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Stock Market & Financial Investment News

News Breaks
July 31, 2014
05:32 EDTCSCredit Suisse says responding to inquiries on trading systems
Credit Suisse said in its Q2 earnings report that it is "responding to inquiries from various governmental and regulatory authorities concerning the operation of its alternative trading systems, and is cooperating with those requests." Credit Suisse added that it is also "among more than thirty defendants named in putative class action complaints filed in the US District Court for the Southern District of New York since April 2014, alleging violations of US securities laws related to high-frequency trading."
News For CS From The Last 14 Days
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December 17, 2014
07:20 EDTCSCapital Link to hold a forum
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December 11, 2014
13:40 EDTCSEuro zone banks accepted $160B in low interest loans, NY Times says
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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
07:56 EDTCSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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