Worried by the misleading financial statement prepared by the Bank of Industry and the unsatisfactory responses from its management, the Financial Reporting Council FRC has queried the bank, noting that its reports are capable of misleading the public. It therefore requested that all documents relating to all its transactions and […]

Former Jefferies & Co. Managing Director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities. Litvak, 39, of New York, was found guilty by a federal jury yesterday of all counts […]

The U.S. Securities and Exchange Commission has launched an inquiry into whether high-speed trader Infinium Capital Management violated federal securities laws, according to a SEC letter obtained by Reuters. The SEC has sought documents and recordings related to a lawsuit that former Infinium employees brought against the Chicago-based firm in […]