Bank One Corp has agreed to pay penalties of $90m after an inquiry into improper stock trading.
The US Securities and Exchange Commission and New York’s attorney general both announced settlements with Bank One late on Tuesday.
Mark Beeson, ex-head of Bank One’s mutual funds unit, was fined $100,000 and banned from trading for two years
Jean-Marie Messier, former chief executive of French media giant Vivendi Universal, has been taken into custody.
Mr Messier is being questioned as part of an investigation into “financial misappropriation”, Paris police said.
The arrest follows a probe into Vivendi ex-finance chief Guillaume Hannezo launched earlier this month
CHICAGO (Reuters) – Nine current and former employees of Lucent Technologies Inc. and another individual on Monday were charged with securities fraud for their roles in accounting problems at the telecommunications equipment maker.
The civil case dates back to the company’s fiscal year 2000, during which the U
TORONTO (Reuters) – A U.S. grand jury has subpoenaed records from Nortel Networks Corp
Switzerland’s largest bank, UBS, has been fined $100m by the United States Federal Reserve for violating US trade sanctions.
UBS admitted “very serious mistakes” had been made and said it would now quit the banknote trading business outside Switzerland.
The Fed had accused the bank of supplying US dollars to countries such as Cuba, Libya, Iran and Yugoslavia
A drug manufacturer being investigated for possible antitrust violations because it cut off shipments to Canadian mail-order pharmacies has to turn its records over to the Minnesota attorney general’s office, a judge has ruled.
Hennepin County District Judge Peter Albrecht also gave a boost to Gov. Tim Pawlenty’s drug-importation Web site, ruling that not all drug importation is illegal
Citigroup is to pay $2.6bn to settle claims that it was partly to blame for losses suffered by investors who backed failed telecoms giant Worldcom.
The bank is facing legal action from Worldcom shareholders who lost out two years ago when the firm went bust after admitting it had inflated its profits
NEW YORK (Reuters) – Prudential Financial Inc., the second largest U.S
the software company under investigation for its accounting, Thursday said it will revise its filings for the second half of 2003 to defer recognition of about $9 million in revenue, due to an adjustment in the way the company calculates subscription revenue.
The Islandia-based software company also said it will report results for the fiscal fourth quarter ended March 31 up to two weeks later than planned, due to the work involved in the restatement.
Computer Associates was set to report fourth-quarter and full-year fiscal 2004 results May 12
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said Thursday it filed civil fraud charges against PIMCO Advisors Fund Management LLC, affiliates and officers in a probe of mutual fund market timing