Financial Regulatory Forum

Bank of America-SEC bonus pact rejected; Cuomo eyes charges

September 15, 2009

Bank of America CEO Kenneth Lewis pauses as he speaks at the National Urban League Conference in Chicago July 30, 2009. REUTERS/John Gress By Jonathan Stempel and Grant McCool
NEW YORK, Sept 14 (Reuters) – A federal judge rejected Bank of America Corp’s $33 million settlement with the U.S. Securities and Exchange Commission over Merrill Lynch & Co bonuses as a contrivance, and New York’s top legal officer prepared to sue senior bank executives.

Schwab faces ARS fraud charge, TD Ameritrade settles

July 20, 2009

New York State Attorney General Andrew CuomoBy Jonathan Spicer
NEW YORK, July 20 (Reuters) – New York’s attorney general, probing illegal marketing and sales of auction rate securities, intends to charge Charles Schwab CorpĀ  with civil fraud and has reached a settlement with rival TD Ameritrade Holding Corp, his office said on Monday. (more…)

U.S. government auto task-force chief to step down

July 14, 2009

Steve Rattner WASHINGTON/NEW YORK, July 13 (Reuters) – Steven Rattner will leave as head of the U.S. autos task force, which oversaw bankruptcies at General Motors Corp and Chrysler Group, at a time when a probe into how the private equity firm he co-founded gained New York pension business has intensified. (more…)