The Securities and Exchange Commission has warned members the public against patronizing illegal capital market operators. The Commissioned averred that investors should always consult the list of registered capital market operators on its website to ascertain their authenticity of any operators before entrusting their hard – earned money to such […]
Frauds & Scandals
EU regulators open lengthy probe into Telefonica, KPN deal
EU antitrust regulators opened on Friday an in-depth probe into Telefonica’s (TEF.MC) (O2Dn.DE) proposed 8.6 billion euro ($11.9 billion) takeover of KPN’s (KPN.AS) German unit, saying the deal may reduce competition in the German mobile market. Spanish telecoms provider Telefonica’s takeover of KPN’s E-Plus will put it on par with […]
SAC’s Steinberg found guilty of insider trading
Michael Steinberg, a top portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty on Wednesday on charges that he traded on insider information. A federal jury in Manhattan found Steinberg, 41, guilty on all five counts of conspiracy and securities fraud that he faced. Prosecutors […]
