US market regulator Securities and Exchange Commission has charged Countrywide Financial founder Angelo Mozilo and two former executives with securities fraud. Mozilo, who is the former chief executive of financial services entity Countrywide along with David Sambol and Eric Sieracki, have been charged with fraud for misleading investors about the significant credit risk taken by the company.
The US regulator Securities and Exchange Commission has appointed heads of five new specialised units, in a move to rebuild its enforcement programme.
Stock tickers can say a lot about a company in just a few letters. Find out how to read them.
The firms settled the charges by paying a total of $1.8 million.
Looking beyond the lesser penalty regime, in its 10th year of existence, the CCI needs more branches, according to experts
Goldman Sachs is seeking to avoid a fraud charge as part of its settlement with the United States market regulator SEC, which had charged the investment banking major with defrauding investors by misrepresenting facts, a media report said.
Wal-Mart said in its annual report, filed with the US Securities and Exchange Commission, that it could not estimate how much loss would come to because of the complexity of the related probes and internal review.
Warren Buffett, chairman and chief executive officer of Berkshire Hathway, has received a total compensation of $519,490 (Rs 2.36 crore) for 2009, including a salary of $100,000 that has remained unchanged for more than 25 years.
The Centre has recovered around Rs 95.86 crore from at least 11 crypto exchanges for evading goods and services tax (GST), according to data released by Parliament on Monday. The amount includes interest and penalty. The GST investigation department has detected a total tax evasion of Rs 81.54 crore by crypto exchanges that include WazirX, Coin DCX, CoinSwitch Kuber, Buy Ucoin, UnoCoin and Flitpay, among other exchanges. In a written reply to Lok Sabha, minister of state (MoS) for finance Pankaj Chaudhary said 11 cases of GST evasion by cryptocurrency exchanges have been detected by central GST formations.
Since the start of the year, the PE player has no board representation in the company.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Facebook, which has about 800 million users worldwide, is currently in 'internal discussions' with US regulator Securities and Exchange Commission regarding the timing of its initial public offering, the Wall Street Journal quoted people familiar with the matter as saying.
The SEC has charged Citigroup's principal US broker-dealer subsidiary with misleading investors about the $1 billion derivatives deal tied to the US housing market.
The team will then proceed for discussions with the government-appointed Board of Satyam Computer Services in Hyderabad on Thursday to assess the present status of India's fourth- largest software firm. Following the confessions of Satyam's founder and former chairman B Ramalinga Raju that he had cooked up the firm's balance-sheet for several years, US investors have filed over a dozen law suits against the company in various US courts.
Infosys Technologies, India's second largest information technology services firm, has discontinued some of its loan schemes for employees.
Zuckerberg currently holds around 444 million shares of Class B common stock as well as 60 million shares of Class B common stock issuable upon the exercise of an option.
Facebook founder and CEO Mark Zuckerberg, along with his three top leutinants, will get about USD 2 million in just salaries and bonuses, but cannot work on creating a rival to the social networking giant.
Gupta, who has not been indicted in the criminal trial of Galleon Group founder Raj Rajaratnam, faces civil charges from the Securities and Exchange Commission for allegedly passing confidential information about Goldman Sachs to the defendant.
Global market regulators are keen to have a close look at a model for assessing corporate governance, developed for the first time by Securities and Exchange Board of India.
This settlement relates to an accounting fraud perpetrated by the company's former management from at least 2003 through September 2008.
The US government has asked a court in New York to slap a maximum penalty of $15 million on India-born fallen Wall Street titan Rajat Gupta and permanently bar him from serving as director of any publicly-traded firm for his "terrible breach of trust" by indulging in insider trading.
The UGC chairperson stressed that foreign varsities with campuses in the country can only offer full-time programmes in physical mode and not online or distance learning.
Business process outsourcing company Genpact has set the ball rolling for a $600 million (around Rs 2,500 crore) initial public offer on New York Stock Exchange
This was disclosed in a filing to the US Securities and Exchange Commission, in which Motorola outlined the compensation that Jha stands to gain.
De Castro is the second big appointment that Yahoo! has made from its rival Google. Earlier this year, Yahoo! appointed former Google executive Marissa Mayer as its chief executive.
After oscillating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.
Facebook co-founder Dustin Moskovitz has sold another 450,000 shares of the social networking major so far this week, reducing his holding to just 6.15 million of Class A stock, which have lesser voting rights than Class B stock.
Pharmaceutical major Dr Reddy's Laboratories Ltd on Tuesday said it will offer up to 13.5 million American Depositary Shares.
UAL and Continental Airlines closed their merger on October 1 creating the world's largest carrier by traffic.
Yahoo!'s new Chief Executive Marissa Mayer will get a compensation package of more than $59 million over the next several years.
The SEC is talking tough about changing how these agencies work. But we have a few suggestions of our own for how to make ratings firms credible again.
The England and West Indies cricket boards suspended sponsorship negotiations with financier Allen Stanford following fraud allegations against the Texas billionaire on Tuesday. The US Securities and Exchange commission charged Stanford and three of his companies with alleged fraud involving a multi-billion dollar investment scheme.
Indian American Rajat Gupta, a former director at Goldman Sachs, had violated the firm's code of conduct by disclosing details from a 2008 board meeting to hedge fund manager Raj Rajaratnam, the main accused in the largest hedge fund insider trading case to hit US courts, the company CEO Lloyd Blankfein has testified.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
Kraft Foods, the world's second biggest food company, has said it is facing investigation by the Securities and Exchange Commission (SEC) for possible corrupt practices in India by its arm Cadbury, relating to a manufacturing plant there.
The Wall Street Journal has reported that the SEC has contacted many investment banks whose analysts cover generic drug-maker Mylan, asking about a meeting the company hosted last September with those analysts and a group of investors.
Wipro Chairman and CEO Azim H Premji received the highest annual remuneration in the company for the fiscal 2006-07. Premji who also holds 79.58 per cent stake in the company, got an annual remuneration of $721,522.
SEC rules require companies with 500 or more shareholders of record in a given type of stock to publicly disclose certain financial information.
"Following preliminary investigations, FSA has decided to commence a formal enforcement investigation into Goldman Sachs International in relation to recent SEC allegations. FSA will be liaising closely with SEC in this review," FSA said in a statement today. No further details were provided.
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