Two of R. Allen Stanford’s investors lost a bid to hold the federal government liable for the U.S. Securities and Exchange Commission’s alleged failure to tell another agency the financier’s business was in trouble.
There’s a tie that binds the U.S. Securities and Exchange Commission’s separate probes of SAC Capital Advisors LP founder Steven A. Cohen and Fabrice Tourre, the former Goldman Sachs Group Inc. vice president.
In the end, billionaire Steven Cohen, one of the most successful hedge-fund managers of his generation, could end up getting banned from the business he dominated for an error of omission, not commission.
The future of billionaire hedge-fund manager Philip Falcone was up in the air after a proposed $18 million settlement with the U.S. Securities and Exchange Commission was rejected by Chairman Mary Jo White as too lenient, according to two people with knowledge of the matter.
As entrepreneurs and venture capitalists swilled beer and swapped business cards at a technology conference in Austin, Texas, Kevin Callahan hunkered down March 9 for a closed-door meeting with Senator Jerry Moran.
R. Allen Stanford, the indicted financier, sued U.S. prosecutors and agents of the FBI and Securities and Exchange Commission, accusing them of “abusive law enforcement” and seeking $7.2 billion in damages.
Citigroup Inc. failed yesterday to win a judge’s approval to pay $75 million to settle with the U.S. Securities and Exchange Commission over claims the bank misled investors by understating subprime-related holdings.