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By Register Staff HARTFORD -- GE Funding Capital Market Services Inc. has agreed to pay $34.25 million in a settlement to resolve allegations it rigged bids for municipal bond derivatives, but Connecticut's share will be much smaller. The settlement comes after attorney generals' offices from Connecticut and New York led an investigation that included 24 states. It was alleged that traders at GE Funding were in collusion with some brokers, allowing what Attorney General George Jepsen called a "last look" at bids for municipal bond derivatives.
Colorado is part of a $34.5 million multi-state settlement with GE Funding Capital Market Services, according to the state's attorney general's office. The settlement involved allegations that the company engaged in anticompetitive conduct in the municipal bond derivatives industry, said Attorney General John Suthers. The settlement is a component of a $70 million coordinated state and federal law enforcement and regulatory action involving the U.S. Department of Justice, the Securities Commission and the Internal Revenue Service.
In this paper, the authors study Turkey's current and future economic conditions and shade some prospects into the prognosis of its probable European Union (EU) membership. Turkey's drive to join the union has faced numerous challenges over the years. Primary inspiration for EU integration transpires from the idea of creating a single market for goods, services, and capital among the union members. Multivariate analysis of Mahalanobis squared distance, canonical correlation, and canonical discriminant analysis show that currently Turkey do not have similar economic status nor the prognosis in near future for them to be a member of the union on the basis of economic profile that the authors have considered in this paper. Therefore, Turkey would like to place a considerable emphasis on th...
LONDON (Reuters) - Hedge funds last month enjoyed their biggest monthly net inflows since August, as investors backed managers to profit from increasing market volatility, indicative data from GlobeOp Financial Services shows. The GlobeOp Capital Movement Index, which tracks the monthly net of subscriptions to and redemptions from around $167 billion of hedge fund assets under administration, showed a net inflow of 2.29 percent in the month to May 1 compared with a 0.05 percent net outflow a month earlier.
To: ENERGY EDITORS Contact: Robert Parry, Chief Executive Officer of ZBB Energy Corporation, +1-262-253-9800, rparry@zbbenergy.com; or Joanne Verkuilen of SMH Capital Inc., Market & Liquidity Services, +1-212- 893-1122, joanne.verkuilen@smhcapital.com, for ZBB Energy Corporation
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