(Reuters) – The U.S. Securities and Exchange Commission has
fined 22 municipal bond underwriting firms more than $4 million
for selling bonds with offering documents that contained false
statements or omissions, the securities regulator said on
The action relates to activities between 2010 and 2014 and
is part of the agency’s increased focus on the U.S. municipal
bond market, where disclosure and pricing practices are often
inconsistent and not monitored as actively as in other markets.
WASHINGTON, Sept 16 (Reuters) – President Barack Obama on
Wednesday called for an international framework to prevent the
Internet from being “weaponized” as a tool of national
aggression, while holding out the prospect of a forceful U.S.
response to China over hacking attacks.
With Chinese President Xi Jinping set to visit Washington
next week, Obama said at a conference with business leaders that
his talks with Xi would include cybersecurity, a topic that has
become a point of friction in U.S.-Chinese relations.
WASHINGTON (Reuters) – The Puerto Rico Aqueduct and Sewer
Authority has reached a settlement with the U.S. government to
make major upgrades to its systems, the Justice Department said
on Tuesday, adding that because of the territory’s current
financial hardships it had waived fines for violating
Under the agreement, the authority, known as PRASA, will
spend $1.5 billion on improvements and also invest $120 million
to construct sewers for communities surrounding the Martin Pena
Canal, the department said.
WASHINGTON/NEW YORK (Reuters) – Kmart Corp has paid $1.4
million to settle U.S. allegations that it violated the federal
False Claims Act by inducing Medicare beneficiaries to fill
prescriptions at its pharmacies, the Department of Justice said
The government said the accord resolves allegations that
Kmart, a unit of Sears Holdings Corp, let beneficiaries
use drug manufacturers’ coupons to reduce or eliminate
WASHINGTON, Aug 24 (Reuters) – Jostling for position in the
U.S. presidential race, candidates on Monday blamed Wall Street
elites, the Federal Reserve, exposure to China, and President
Barack Obama’s spending policies for the market contagion from
China’s stock-market plunge.
As the Dow Jones industrial average briefly slumped to its
biggest point-drop ever, Republican front-runner Donald Trump
said he had long warned about U.S. exposure to China.
WASHINGTON (Reuters) – As China’s stock-market plunge spread to the United States, presidential candidates on Monday laid on blame and pushed their policy ideas from the sidelines, with Republican Donald Trump saying he had warned about U.S. exposure to China.
“I’ve been talking about China for years. Because China’s going bad it’s going to bring us down, too, because we’re so heavily coupled with China,” said real-estate mogul Trump on Fox News. “I’m the one that says you better start un-coupling from China because China’s got problems.”
Aug 12 (Reuters) – Brokerage firm Investment Technology
Group agreed to pay $20.3 million to settle charges it
ran a secret trading desk that profited off of confidential
customer information within its “dark pool,” the U.S. Securities
and Exchange Commission said on Wednesday.
ITG has always billed itself as an agency broker, meaning it
only trades on behalf of its clients, including matching buy and
sell orders within POSIT, the company’s private stock trading
venue, or “dark pool.”
WASHINGTON (Reuters) – The white man suspected of murdering nine black people during bible study at a South Carolina church was charged on Wednesday with federal hate crimes, adding to multiple state counts that raise the possibility of a death sentence.
“The parishioners had Bibles. Dylann Roof had his .45 calibre Glock pistol and eight magazines loaded with hollow point bullets,” U.S. Attorney General Loretta Lynch said after a federal grand jury returned the 33-count indictment against Roof.
By Sarah N. Lynch and Lisa Lambert
(Reuters) – The U.S. Securities and Exchange Commission
filed enforcement actions against 36 municipal bond underwriting
firms over fraudulent offerings on Thursday, marking the first
time the regulator has brought such cases.
The SEC’s enforcement sweep stems from a March 2014
initiative that invited firms to voluntarily self-report
disclosure violations made by material misstatements and
omissions in bond offering documents.
WASHINGTON (Reuters) – Possible Republican presidential candidate Chris Christie on Tuesday said the policies of President Barack Obama and the Federal Reserve had widened the gulf between rich and poor.
Christie, who is governor of New Jersey, said Obama had failed to curb spending and that his regulatory policies had led to stagnant growth. As for the U.S. central bank, he said that while middle-class families struggled, the Fed had boosted stock prices which benefited people who were already wealthy.