This week, the SEC filed charges against Melville ten Cate for making an elaborate but infeasible takeover bid for Textron (NYSE: TXT), the defense and aerospace giant, through a company that had no revenue or capital
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One of the many institutions name-checked in Inventing Anna, the Netflix story of fake German heiress Anna Sorokin, is City National. The Los Angeles bank is part of the Royal Bank of Canada empire. It caters to Hollywood movers and shakers, so it fit with Sorokin’s vibe/con. She applied for a $22 million loan from City National for the club that she wanted to open, but the application was rejected. Instead, she received a $100,000 overdraft facility that she drew down
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One of the headaches of running an investment firm is the ongoing regulatory paperwork. The agencies want things done properly, which takes up lots of time and keeps lawyers billable. Aren’t you sometimes tempted, just a little, to ignore the regulations and do what you want?
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People who commit insider trading know that it is wrong, so they often have others place their trades or open accounts under pseudonyms. The SEC doesn’t care: if you pass on material non-public information in violation of your fiduciary responsibility, you are guilty of insider trading
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The world’s financial markets are interconnected, so this week, a Swiss investment bank was sanctioned in Washington and London for its activities in Mozambique. Here’s what happened
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