Tag Archives: sec

Major banks under investigation for ties to Mexican drug cartels

Charles Schwab Corp. founder and chairman Chuck Schwab

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab Corp. and Bank of America’s Merrill Lynch brokerage firm because ... Read More »

JPMorgan CEO Jamie Dimon gets 74% payrise; to $20 million

Jamie Dimon

It was only a year ago that JPMorgan CEO Jamie Dimon was getting his pay docked by millions of dollars. Now, though, the company is giving their chief executive a raise. Despite the fact that JPMorgan was hit with $20 billion worth of fines during 2013, Dimon will receive $1.5 million for the year. That base salary is virtually unchanged ... Read More »

Put big bank CEOs in jail – Senator Elizabeth Warren

Senator Elizabeth Warren

Sen. Elizabeth Warren (D-Mass.) This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on Wall Street regulators to hold all those responsible for the ... Read More »

Are corporations masquerading as government in Australia & world wide?

Australian Commonwealth

Would you be surprised to find a company with the same name as your country registered with the Security and Exchange Commission (SEC) in Washington DC? Well, guess what?! Among those listed as corporate entities by the United States SEC are: Israel, Turkey, Italy, Hungary, Sweden, Finland,Argentina, Colombia, Brazil, The Philippines, South Korea, Japan, Jamaica, South Africa, Canada,Australia… and my personal favourite (and I quote) “Her Majesty the Queen in Right of the Province of ... Read More »

Congressional report blames Corzine for MF Global’s collapse

Former MF Global CEO Jon Corzine Testifies To House Hearing On Company's Bankruptcy

Congressional investigators took aim on Wednesday at a former colleague, Jon S. Corzine, blaming the onetime senator’s risk-taking at MF Global for accelerating the brokerage firm’s demise. In excerpts from a broader MF Global report to be released on Thursday, Republican members of a Congressional panel outlined a withering critique of Mr. Corzine’s 19-month tenure at the firm. Mr. Corzine, a former Democratic ... Read More »

JPMorgan faces money laundering probe

JP Morgan

JPMorgan Chase & Co’s compliance with U.S. anti-money laundering laws is being reviewed by a banking regulator, a source said, making the largest U.S. bank the latest target of a wide investigation of how banks prevent transactions involving drug money and sanctioned countries. The Office of the Comptroller of the Currency, an independent branch within the Treasury Department, is examining ... Read More »

Graphing Groupon’s grotesque governance and “growth”

Groupon

In case you hadn’t noticed, Facebook is set to IPO very soon but, courtesy of BackgroundCheck.org, we have a breakdown of the dismal truth behind the next best thing since sliced bread – Groupon. Between their ‘dodgy’ growth and desperately poor governance, the SEC is showing a keen interest (or maybe just angling for a handout of IPO allocations). With a timeline ... Read More »