Steven A. Cohen, the billionaire whose hedge-fund firm SAC Capital Advisors LP agreed to plead guilty to securities and wire-fraud charges, will stay on the board of the Robin Hood Foundation, the organization said.
BlackRock Inc., the world’s biggest money manager, persuaded a judge to dismiss a lawsuit brought by two pension funds that accused the company of collecting “grossly excessive” compensation from securities-lending returns linked to iShares Inc.
American International Group Inc.’s resumption of securities lending at a life insurance division would carry risks for the company and be negative for bondholders, Moody’s Investors Service said today.
Wells Fargo & Co. was cleared by a jury of claims it misrepresented a securities-lending program to Blue Cross Blue Shield of Minnesota and other institutional investors and a demand it pay for $8.2 million of losses.
Brokers face restrictions on using clients’ assets as collateral for other trades, as part of a push by global regulators to prevent the securities lending market from sparking chain reactions that could cause a crisis.
BlackRock Inc., the world’s biggest money manager, is accused in a lawsuit by two pension funds of reaping “grossly excessive” compensation from securities- lending returns associated with iShares Inc.