U.S. state- and local-government bond underwriters may have to disclose more information about donations to election campaigns backing new debt sales, under a proposal by the Municipal Securities Rulemaking Board.
The U.S. District Court in lower Manhattan, the primary venue for major financial litigation with jurisdiction over the New York Stock Exchange and bank headquarters, will be closed for the week as a result of the super-storm that pummeled the region.
Ally Financial Inc., the auto and home lender that got a $17.2 billion bailout, said it received subpoenas from the U.S. Department of Justice and the U.S. Securities and Exchange Commission relating to how it handled home loans.
Demonstrators from New York City to San Francisco took to the streets to protest what they call a growing wealth disparity between large U.S. corporations and average citizens in the wake of the financial crisis.
The Occupy Wall Street movement and its labor-union allies took their fight to the homes of some of the New York City’s richest financiers to protest economic inequality and advocate higher taxes for the wealthy.
Morgan Stanley, accused by a group of Singapore investors of fraudulently wiping out their $154.7 million investment, urged a Manhattan judge to dismiss the lawsuit, arguing New York isn’t an appropriate place for trial.
A New York federal judge approved a $153.6 million settlement by JPMorgan Chase & Co. of allegations by the Securities and Exchange Commission that the bank misled investors in a mortgage securities transaction just as the housing market was starting to plummet, according to court records.