French stock market regulator AMF has filed complaints against media giant Vivendi Universal, its boss and another top executive.
It believes the prospectus for a bond issue was unclear and that executives may have had privileged information.
AMF has begun proceedings against Vivendi, its chief executive Jean-Rene Fourtou and chief operating officer Jean-Bernard Levy
The trial of Bernie Ebbers, former chief executive of bankrupt US phone company WorldCom, has started in New York with the selection of the jury.
Mr Ebbers, 63, is accused of being the mastermind behind an $11bn (£6bn) accounting fraud that eventually saw the firm collapse in July 2002.
His indictment includes charges of securities fraud, conspiracy and filing false reports with regulators
A tribunal is to cut Legal & General’s £1.1m ($2m) fine for mis-selling but upheld a Financial Services Authority ruling that the insurer mis-sold endowments.
The Financial Services and Markets Tribunal, which reviewed L&G’s appeal, said L&G was guilty of mis-selling
The New York Stock Exchange (NYSE) has hit US investment bank Morgan Stanley with a record $19m (£10m) fine.
The penalty, the largest so far imposed by the exchange, was the result of regulatory and supervisory lapses at Morgan Stanley, the NYSE said.
The NYSE said it had discovered “supervisory, operational and technological deficiencies” in some of Morgan Stanley’s operations
National Grid, the firm in charge of supplying electricity to England and Wales, could face fines of up to $20m (£12m) a year in the event of major power cuts.
Regulator Ofgem announced the penalties as part of an incentive scheme to improve the firm’s record on blackouts.
The move follows Ofgem’s investigation of two large power cuts in the South East and West Midlands in 2003
Two former executives at America Online face criminal charges after an FBI investigation into claims of fraudulent transactions with a software supplier.
The duo – Kent Wakeford and John Tuli – have been charged with conspiracy, securities fraud, wire fraud and making false statements.
Prosecutors claim the pair colluded with executives at PurchasePro to inflate revenues at the two firms
Eighteen former Enron directors have agreed a $168m settlement deal in a shareholder lawsuit over the collapse of the energy firm.
Leading plaintiff, the University of California, announced the news, adding that 10 of the former directors will pay $13m from their own pockets.
The settlement will be put to the courts for approval next week
Judy Boynton, Shell’s former finance director who was criticised over the oil group’s massive reserves scandal, will receive a $1m (£535,000) cash pay-off, plus shares and pension worth a further $2.4m.
Shell said Ms Boynton, who “stepped aside” from her board-level position in April, would get a $1m severance payment in line with the terms of her contract
US securities regulators have started an informal inquiry into stun gun maker Taser following statements the company made over safety of its products.
Taser shares fell 17.74% to $22
The US agrochemical giant Monsanto has agreed to pay a $1.5m (£799,000) fine for bribing an Indonesian official.
Monsanto admitted one of its employees paid the senior official two years ago in a bid to avoid environmental impact studies being conducted on its cotton