The U.S. Securities and Exchange Commission is asking financial firms for information on how they market “principal-protected” notes,” Bloomberg reported on Friday, citing people familiar with the matter. Principal-protected notes, complex securities marketed as carrying a money-back guarantee, have started to make a comeback lately after losing much of their luster when Lehman Brothers collapsed in 2008.
Posts Tagged ‘Jpmorgan Chase’
SEC To Review Marketing of Principal Protected Products
July 6th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Bank Of America, Bank Of America Corp, Barclays, Barclays Plc, Bloomberg, Chase Co, Citigroup Inc, Financial Industry Regulatory Authority, Hsbc Holdings, Hsbc Holdings Plc, Initial Outlay, Jpmorgan Chase, Lehman Brothers, Luster, Money Back Guarantee, Principal Protected Notes, Promotional Materials, Regulatory Agency, Securities And Exchange Commission, Securities Industry 
Comments OffWaddell is mystery trader in market plunge
May 15th, 2010 Before You Invest (Reuters) – A huge mystery seller of futures contracts during the market meltdown last week was not a hedge fund or a high frequency trader as many have suspected, but money manager Waddell & Reed Financial Inc, according to a document obtained by Reuters.Waddell sold on May 6 a large order of e-mini contracts during a 20-minute span in which U.S.
Posted in Finance Fraud Tags: Anomalous Activity, Chicago Mercantile Exchange, Commodity Futures Trading, Commodity Futures Trading Commission, Directional Indicator, Futures Contracts, Futures Trading Commission, Gary Gensler, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Interactive Brokers Group, Interactive Brokers Group Inc, Jpmorgan Chase, Market Meltdown, Market Plunge, Minute Span, Reed Financial Inc, Sachs Group Inc, Waddell Reed Comments OffAuthorities look into whether large banks misled investors
May 12th, 2010 Before You Invest Federal prosecutors are working with the Securities and Exchange Commission to look into whether some major banks, including Morgan Stanley, Deutsche Bank, UBS, JPMorgan Chase and Citigroup, might have misled investors regarding their role in collateralized debt obligations, a source said. Prosecutors reportedly are in the early stages of gathering evidence but have not issued subpoenas or started outlining potential cases.http://online.wsj.com/article/SB10001424052748704247904575240783937399958.html
Posted in Finance Fraud Tags: Authorities, Banks, Citigroup, Collateralized Debt Obligations, Deutsche Bank, Federal Prosecutors, Investors, Jpmorgan Chase, Morgan Stanley, Securities And Exchange, Securities And Exchange Commission, Subpoenas, Ubs, Wsj Comments Off4 Big Banks Score Perfect 61-Day Run
May 12th, 2010 Before You Invest By ERIC DASHIt is the Wall Street equivalent of a perfect game of baseball — 27 up, 27 down, the final score measured in millions of dollars a day.Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year.Their remarkable 61-day streak is one for the record books.
Posted in Finance Fraud Tags: American Finance, Amp Company, Bank Of America, Baseball History, Controversial Role, Dallas Braden, First Three Months, Goldman Sachs, Hitting Home, Jpmorgan Chase, Major League Baseball, Management Consulting Firm, Oakland Athletics, Perfect Games In Major League Baseball, Remarkable Feat, Risk Advisors, Risk Management Consulting, Risk Management Consulting Firm, Risk Management Experts, Wall Street Experts Comments OffThe 10 Best And Worst Regarded U.S. Companies
April 6th, 2010 Before You Invest BOSTON (Reuters) – These are the 10 most admired U.S. companies, according to a Harris Interactive Inc survey of 29,963 people conducted from Dec. 29 though Feb. 15. The survey considers the 60 best-known companies:MOST ADMIRED: prior rank1. Berkshire Hathaway Inc 112. Johnson & Johnson 13. Google Inc 24. 3M Co 95.
Posted in Finance Fraud Tags: 3m Co, Amazon Com Inc, American International Group, American International Group Inc, Bank Of America Corp, Berkshire Hathaway, Berkshire Hathaway Inc, Citigroup Inc, Coca Cola Co, Delta Air Lines, Delta Air Lines Inc, General Mills Inc, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Google Inc, Harris Interactive Inc, International Group Inc, Jpmorgan Chase, Sachs Group Inc Comments OffEx-Investment Banker Charged With Insider Trading
March 15th, 2010 Before You Invest (Bloomberg) — Christian Littlewood, a former banker at Shore Capital Group Plc and Commerzbank AG’s Dresdner Kleinwort, and his wife have been charged with insider trading by the U.K. financial regulator.Littlewood, faces 13 counts of insider trading with his wife, Angie Littlewood, the Financial Services Authority said today in a statement.
Posted in Finance Fraud Tags: Alternative Investment Market, Capital Group, Chase Co, Commerzbank, Commerzbank Ag, Comoros Islands, Company Lawyer, Corporate Finance Adviser, Criminal Case, Criminal Prosecution, Deterrence, Dresdner Kleinwort, Financial Regulator, French Territory, Insider Trading, Investment Banker, Jpmorgan Chase, Littlewood, Mayer Brown, Wife Angie Comments OffJPMorgan Chase CEO – Economy could still “double dip”
March 2nd, 2010 Before You Invest JPMorgan Chase will not raise its dividend until the threat of a “double dip” in the economy has subsided, the company’s chief executive officer has said.Jamie Dimon made the comments at the financial institution’s annual investor meeting, Reuters reported.Representatives from the bank stated that ideally the dividend would be increased from 75 cents to $1.But, further confirmation that the financial crisis had finished, such as rising employment figures, would be needed before the bank would increase the figure.Mr Dimon said: “We don’t mind holding extra capital right now because we don’t know what’s going to happen. There are hugepotential negatives out there.”He added that the company is “cautious” due to uncertainty over the amounts of money needed to be maintained in reserve for future potential credit losses.Although the economic turmoil in Greece was not an issue for the bank, the CEO did express concern over the ability of states such as California to manage debt.Earlier in the month, JPMorgan announced the acquisition of the commodities arm of RBS Sempra for $1.7 billion.
Posted in Finance Fraud Tags: Acquisition, Ceo Express, Chief Executive Officer, Commodities, Confirmation, Credit Losses, Dividend, Economic Turmoil, Economy, Employment Figures, Financial Crisis, Financial Institution, Greece, Investor, Jamie Dimon, Jpmorgan Chase, Money, Rbs Sempra, Reuters, Uncertainty Comments OffGoldman Sachs criticized by financial crisis panel chief
February 27th, 2010 Before You Invest Goldman Sachs has been singled out for criticism from Phil Angelides, the chairman of the Financial Crisis Inquiry Commission (FCIC).In an interview with the Financial Times, Mr Angelides said that he was concerned at revelations uncovered by the public hearing that suggest Goldman Sachs had been “making and selling securities and then fully betting against them”.He added that recent allegations about Goldman Sachs’ behavior in relation to debt swaps carried out on behalf of the Greek government were also a worry for him.”I find the practice troubling and it raises questions about honest dealing and trust and transparency in the marketplace,” he said.The FCIC is set to start hearing from further witnesses again today (February 26th 2010) after previously taking testimony from leading figures in the US banking sector.Mr Angelides said that the commission may choose to recall witnesses such as Lloyd Blankfein from Goldman Sachs and Jamie Dimon of JPMorgan Chase as its enquiries continue.Last month, Mr Blankfein told the inquiry that he believed the lessons of the financial crisis had been learned and such events would not occur again in his lifetime.
Posted in Finance Fraud Tags: Allegations, Banking Sector, Fair Dealing, Fcic, Financial Crisis, Financial Times, Goldman Sachs, Greek Government, Inquiry Commission, Jamie Dimon, Jpmorgan Chase, Lifetime, Lloyd Blankfein, Panel Chief, Phil Angelides, Public Hearing, Revelations, Selling Securities, Swaps, Transparency Comments OffJPMorgan Chase chief gets $10m in shares
February 6th, 2010 Before You Invest Jamie Dimon, JPMorgan Chase’s chief executive officer, has taken $10 million in shares after exercising stock options that have accrued over the course of ten years.He has taken on an additional 250,000 shares – a go he had to make before the stock expired in March.The windfall comes on top of his 2009 pay packet, which is set to be revealed in the next few days and is estimated to stand between $15 and $20 million, reports the Financial Times.JPMorgan Chase shares have increased in value by around 60 per cent over the course of the past 12 months but company insiders indicated that Mr Dimon has no immediate intention of selling his stock. It is believed that he is also likely to forgo a cash bonus for the second year in a row to help fend off potential criticism of JPMorgan Chase’s pay practices.Last month, industry analysts predicted to the Telegraph that the firm’s bonus pot will stand at around $29 billion.
Posted in Finance Fraud Tags: 10 Million, 12 Months, Cash Bonus, Chief Executive Officer, Company Insiders, Few Days, Financial Times, Industry Analysts, Intention, Jamie Dimon, Jpmorgan Chase, Pay Packet, Pot, Shares, Stock Options, Telegraph, Windfall Comments OffItaly Seizes Bank of America, Dexia Assets in Derivatives Probe
February 3rd, 2010 Before You Invest (Bloomberg) — Italy’s financial police are seizing 73.3 million euros ($102 million) of assets from Bank of America Corp. and a unit of Dexia SA as part of a probe into an alleged derivatives fraud in the region of Apulia.The police are sequestering a further 30 million euros that the municipality was set to place in a fund managed by the banks on Feb.
Posted in Finance Fraud Tags: 30 Million, Bank Of America, Bank Of America Corp, Bank Of Italy, Bloomberg Financial, Borrowings, Charlotte North Carolina, Crediop, Derivatives Losses, Dexia, E Mail, Economic Advantage, Financial Police, Italian Municipalities, Italian Unit, Jpmorgan Chase, Prosecutor, Prosecutors, Swaps, Ubs Ag Comments Off
