U.S. investigators have subpoenaed a 2011 deposition of SAC Capital Advisors LP founder Steven Cohen, whose sworn statements on insider-trading compliance may hurt him as he tries to persuade regulators not to file a lawsuit with the potential to shut his $14 billion firm.
The largest U.S. banks are weighing whether to disregard a Federal Reserve request and announce their dividend plans shortly after the central bank’s stress tests are released, people with knowledge of the process said.
Trading surges that temporarily boosted the value of credit derivatives held by JPMorgan Chase & Co. may provide clues about whether traders at the bank masked losses that have spiraled to $5.8 billion.
The U.S. Senate probe into JPMorgan Chase & Co. did more than conclude the bank hid the full damage of last year’s trading losses from investors and regulators. It also delivered 900 pages of evidence that could help the Securities and Exchange Commission make the case that bank executives broke the law.
A federal judge yesterday refused to immediately endorse a settlement between the U.S. and a bank for a third time in a year, calling a proposed $298 million fine of Barclays Plc for trading with Iran, Cuba and Sudan “a sweetheart deal.”
Berkshire Hathaway Inc. former manager David Sokol exercised poor judgment yet may not have broken insider-trading laws by buying stock in a company he later proposed as a takeover target to Chairman Warren Buffett , legal experts said.
The biggest insider case ever, an alleged $276 million fraud that has led prosecutors and securities regulators to the inner-circle of SAC Capital Advisors LP’s Steven Cohen, stemmed in part from a referral from the Financial Industry Regulatory Authority.