New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 24, 2014
06:03 EDTFNMA, CS, FMCCCredit Suisse in $885M settlement with FHFA
The Federal Housing Finance Agency, as conservator of Fannie Mae (FNMA) and Freddie Mac (FMCC), on Friday announced it reached a settlement with Credit Suisse (CS), related companies and specifically named individuals for $885M. The settlement resolves all claims in the lawsuit FHFA v. Credit Suisse, et al. as well as all claims against the Credit Suisse defendant in FHFA v. Ally Financial Inc., et al. alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac during 2005-2007. Under the terms of the agreement, Credit Suisse will pay approximately $234M to Fannie Mae and approximately $651M to Freddie Mac and certain claims against Credit Suisse related to the securities involved will be released. This is the ninth settlement FHFA has announced in relation to the 18 PLS lawsuits the agency filed in 2011.
News For CS;FNMA;FMCC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 17, 2014
10:50 EDTFMCC, FNMAAckman says added 'meaningfully' to Freddie, Fannie positions in last week
Subscribe for More Information
07:20 EDTCSCapital Link to hold a forum
Subscribe for More Information
December 11, 2014
13:40 EDTCSEuro zone banks accepted $160B in low interest loans, NY Times says
Subscribe for More Information
10:17 EDTCSFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) $ 5M; Credit Suisse Securities (CS) $5M; Goldman, Sachs & Co. (CS) $5M; JP Morgan Securities LLC (JPM) $5M; Deutsche Bank Securities Inc. (DB) $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) $4M; Morgan Stanley & Co., LLC (MS) $4M; Wells Fargo Securities, LLC (WFC) $4M; Needham & Company LLC $2.5M. In addition, FINRA found that six of the 10 firms Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
December 8, 2014
12:31 EDTFMCC, FNMAFannie Mae, Freddie Mac to back mortgages with 3% down payments, LA Times says
Subscribe for More Information
07:56 EDTCSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
Subscribe for More Information
December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use