SEC investigating bank over auction-rate securities sales
Recent Cases
The Bank of New York Mellon Corp. disclosed Friday in its quarterly report that the Securities and Exchange Commission is investigating possible breaches of procedure by one of the bank's subsidiaries in auction-rate securities sales and purchases. Auction-rate securities are long-term bonds with varying interest rates that change based on weekly or monthly auctions. In the report, bank officials wrote:
The Company self-disclosed to the SEC that Mellon Financial Markets LLC placed orders on behalf of issuers to purchase their own Auction Rate Securities. The SEC is conducting an investigation of those transactions. MFM is cooperating fully with the SEC in its investigation.
On Thursday, the SEC agreed to a preliminary settlement with financial firm Citigroup Global Markets, Inc. over the firm's auction-rate securities practices, and Friday the agency entered into a similar settlement with the firm UBS. UBS is also facing a lawsuit filed late last month by New York Attorney General Andrew Cuomo for allegedly misrepresenting auction-rate securities as low-risk despite the actual volatility of such investments.
Related listings
-
Former Bush Assistant Sues over 'Swing Vote'
Recent Cases 08/08/2008Bradley Blakeman, a former member of the Bush administration, claims the movie "Swing Vote" is based on a copyrighted treatment he gave to actor Kelsey Grammer, who passed it along to Disney's Touchstone Pictures without his knowledge or permission. ...
-
'Junior' Gotti Arrested on Murder Charge
Recent Cases 08/05/2008John A. "Junior" Gotti has been arrested on charges linking him to three New York murders, The New York Times reported. He is expected to be indicted on racketeering and murder-conspiracy charges over the killings, which took place nearly two decades...
-
'Trashman' Posted Alarmist Videos, Feds Say
Recent Cases 08/04/2008Anton Dunn, using the alias "Trashman," posted threatening videos on YouTube, in which he claims to have told Gerber employees to poison baby food with the intent to kill millions of black babies, federal prosecutors claim. Dunn has been charged with...
Forte Law Group is a trusted resource to protect your child’s needs.
Based on the culmination of ongoing state, municipal and board of education budget cuts, coupled with school districts having to do more with less resources, the current climate within schools often dictates that you may require a special education attorney to achieve the best results when advocating for your child’s right to a free appropriate public education. Coupled with increasing class sizes, your child may slip through the cracks within the school system itself and not be receiving an appropriate education with measurable goals and objectives.
A Connecticut Special Education Attorney Knows the Law
Often is the situation that there already exists a high level of frustration and contention between the family and school when special education and related services are not being appropriately delivered. Many times, the relationship between family and school results in an adversarial environment that is not conducive towards a team approach for the benefit of your child’s needs.