Securities: UK's FSA and USA's SEC co-ordinate in enforcement action
11. May 2012
The Financial Services Authority (FSA) has fined Martin Currie Investment Management Limited and Martin Currie Inc (together, Martin Currie) GBP3.5 million for failing to manage a conflict of interest between two of its clients. At the same time, ithout admitting or denying the SEC's findings, Martin Currie agreed to settle the SEC's charges by paying a penalty of USD8.3 million and accepting censures and cease-and-desist orders against future violations. |
Securities: in-house paralegal and father charged with insider trading
8. May 2012
The Securities and Exchange Commission today charged a former paralegal at a Kalispell, Montana-based semiconductor company and her father with insider trading on confidential information about the 2009 acquisition of the company. |
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Household insurance: Aus market leader deems two town "uninsurable."
7. May 2012
Leading Australian Insurance company Suncorp has said that it will not provide home and contents insurance for property in two Queensland towns: Emerald and Roma. The towns were amongst the worst affected in last year's floods. |
Funds management: USA's SEC charges UBS Puerto Rico and two executives with defrauding fund customers
3. May 2012
The Securities and Exchange Commission has charged UBS Financial Services Inc. of Puerto Rico and two executives with making misleading statements to investors, concealing a liquidity crisis and masking its control of the secondary market for 23 proprietary closed-end mutual funds. |
Insurance - healthcare: prosecutions in US-wide medicare fraud
3. May 2012
Eight Los Angeles-area residents, including two doctors, have been charged for their roles in schemes to submit more than USD14 million in false billing to Medicare, announced the US Departments of Justice and Health and Human Services (HHS). |
