Muddy Waters LLC, whose analyst reports triggered $7 billion in losses for Chinese stocks, used an unlikely secret weapon for its research: the public website of the U.S. Securities and Exchange Commission.
A multistate probe of alleged manipulation of interest rates threatens to leave banks liable for billions of dollars in estimated state and local losses from the scandal, even as they settle with national regulators.
Securities and Exchange Commission guidelines on when companies should disclose cyber-attacks have become de facto rules for at least six companies, including Google Inc. and Amazon.com Inc., agency letters show.
JPMorgan Chase & Co.’s claim that it found possible employee intent to misprice trades in a unit that lost $5.8 billion may put distance between management and any wrongdoers while providing a road map for U.S. investigators.
UBS AG will pay about $1.5 billion and two former traders face prison as the bank settled charges with U.S. and U.K. authorities for manipulating interest rates in a global conspiracy to boost profits and bonuses.
For the sixth time, the U.S. government has linked an employee of hedge-fund icon Steven A. Cohen to insider trading while at the firm. For the first time, prosecutors said Cohen had talked with a defendant about the stocks in their complaint, pulling him deeper into one of the biggest investigations of securities fraud in history.