Hong Kong, which won a ruling that former Fidelity Management & Research Co. portfolio manager George Stairs sold shares of Chaoda Modern Agriculture Holdings Ltd. using inside information, isn’t seeking any penalty.
JPMorgan Chase & Co., the biggest U.S. bank, has hired former U.S. Securities and Exchange Commission enforcement chief William McLucas to help respond to regulatory probes of the firm’s $2 billion trading loss, according to two people with knowledge of the assignment.
Former Fidelity Management & Research Co. portfolio manager George Stairs was banned from dealing securities in Hong Kong for two years for selling Chaoda Modern Agriculture Holdings Ltd. shares using inside information.
The U.S. Supreme Court expanded the reach of a federal law enacted in response to the 2001 Enron Corp. collapse, saying it protects people who work for a public company’s contractors, including law firms and auditors.
British businessman Victor Dahdaleh paid about 40 million pounds ($64 million) in bribes to the former chairman and chief executive officer of Bahrain’s state- owned aluminum producer, a prosecutor said.
UrtheCast Corp., the digital-imaging company whose largest shareholder is Fidelity Investments, has surged almost 40 percent in the past seven months as investors bet it has found an inexpensive niche in the $1.5 billion market for pictures from space.
BlackRock Inc. and Fidelity Investments will be studied by U.S. regulators who are in the early stages of reviewing whether asset managers pose a potential risk to the financial system, two people with knowledge of the matter said.