Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.
The Financial Industry Regulatory Authority is examining whether Wall Street firms overcharge investors on some bond trades and whether they unfairly allocate new corporate debt issues to reward certain clients.
AutoNavi Holdings Ltd. became the second Chinese company in two weeks to see its shares surge in the days leading up to a takeover announcement, raising concern among investors that details of transactions are being leaked.
A top official for the Financial Industry Regulatory Authority resigned after the agency was informed he was indicted for felony theft and charitable bingo fraud in 1993, the year he joined the agency.
Four bankers who worked at Credit Suisse Group AG were charged with conspiring to help U.S. clients evade taxes through secret bank accounts, according to an indictment yesterday and people familiar with the matter.