Credit Information Bureau (India) Ltd (Cibil) today said it will come out with a database on mortgage defaulters and is also looking at expanding client base to telecom and insurance companies. “We will come up with a database of mortgage defaulters very soon,” Cibil Managing Director Arun Thukral told reporters after announcing the launch of a database of fraudulent activities here.
Posts Tagged ‘Managing Director’
Mortgage defaulters beware! – expressindia.com – 07 Jul 2010
July 9th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Banks Financial Institutions, Borrowers, Cibil, Credit Information, Credit Sector, Fraud Cases, Frauds, Fraudulent Activities, General Insurance Companies, Housing Finance Companies, Incidences, India Ltd, Information Bureau, Joint Venture, Launch, Managing Director, Micro Finance Institutions, Reporting Fraud, Repository, Risk Incidents 
Comments OffSEC to Decide Fiduciary Standard
June 29th, 2010 Before You Invest Legislators finally reached a compromise on the fiduciary standard bill late Thursday after fierce last-minute wrangling over its contents.While the House’s version pushed for the Securities and Exchange Commission to make a fiduciary standard, the Senate preferred instead to have the SEC study differences between its fiduciary standard and the suitability standard many brokers are held to by FINRA, without giving the SEC the power to do anything about it.The final bill contained elements of both—the SEC is charged with studying differences in fiduciary and suitability standards over the next six months, and then potentially make rules that fill any gaps, although the language of the bill doesn’t make this mandatory.
Posted in Finance Fraud Tags: Advisor Recommendations, Bank Clients, Bank Insurance, Finra, Gaps, High Net Worth Individuals, Investment Advisers Act Of 1940, Investment Advisors, Investment Products, Legislators, Lists Of Products, Managing Director, Margins, Platform Programs, Proprietary Products, Securities And Exchange, Securities And Exchange Commission, Sloane, Study Differences, Suitability Standards Comments OffPapaconstantinou Tells Investors Don’t Attack Greece
April 25th, 2010 Before You Invest (Bloomberg) — Greek Finance Minister George Papaconstantinou told investors they will “lose their shirts” if they bet cash-strapped Greece will default, as his government went toward securing emergency aid before debt payments come due in mid-May.Speaking to reporters in Washington, where he’s negotiating terms for a three-year loan package with the International Monetary Fund and European governments, Papaconstantinou expressed confidence the talks will be “concluded rather soon” and said his country wouldn’t restructure its debt.With 8.5 billion euros of Greece’s bonds maturing May 19, finance chiefs want a swift agreement amid concern any delay may trigger a further sell-off in its assets and hurt global markets.
Posted in Finance Fraud Tags: Attack Greece, Bloomberg, Bonds, Budget Deficit, Debt Payments, Dominique Strauss Kahn, Emergency Aid, European Governments, European Partners, Finance Chiefs, Finance Minister, Global Markets, Gross Domestic Product, Imf, International Monetary Fund, Lifeline, Loan Package, Managing Director, Need For Speed, Swift Agreement Comments OffS&P 500 Faces ‘Heavy’ Fibonacci Resistance
March 3rd, 2010 Before You Invest (Bloomberg) — The Standard & Poor’s 500 Index recouped half its bear-market loss, pushing for a second time to a level that might herald more gains, according to some analysts who follow the Fibonacci system of forecasting prices.The benchmark for U.S. stocks surpassed 1,120.84, the 50 percent retracement of its slump from 2007 to 2009, and is up 0.5 percent to 1,124.29 as of 11:42 a.m.
Posted in Finance Fraud Tags: Bank Of Canada, Bear Market, Clos, Contraction, Fibonacci Number Sequence, Financial Crisis, Lehman Brothers, Lehman Brothers Holdings, Lehman Brothers Holdings Inc, Leonardo Of Pisa, Liber Abaci, Managing Director, Rbc Capital Markets, Retracement, Royal Bank Of Canada, S 500, Second Time, Slump, Subprime Mortgages, Technical Resistance Comments OffWall Street Makes It Hard to Earn Legal Living
November 14th, 2009 Before You Invest Alice Schroeder is the author of “The Snowball: Warren Buffett and the Business of Life”, a former managing director at Morgan Stanley, and is a Bloomberg News columnist. Below is a fantastic opinion piece she wrote for Bloomberg.Read more here:A group of university students I spoke to recently questioned if it was possible to make a living on Wall Street without compromising your values.
Posted in Finance Fraud Tags: Alice, Anesthetic, Bloomberg News, Columnist, Ethics, Extreme Statement, Honorable People, Investing, Investors, Managing Director, Money Managers, Morgan Stanley, Schroeder, Securities Laws, Snowball, Street Legal, University Students, Wall Street, Warren Buffett No Comments »$15.8m fine for spam – theaustralian.news.com.au – 24 Oct 09
October 28th, 2009 Before You Invest THE operators of a mobile phone text scam that preyed on the desperate and dateless were yesterday slammed with $15.8million in fines for breaching anti-spam laws. The fine, from Queensland’s Federal Court, makes the operators — who posted fake personals profiles on dating websites to harvest mobile phone numbers and lure men to pay up to $5 per message for SMS sex chat services — the recipients of Australia’s largest spam penalty.It trumped the West Australian Federal Court’s October 2006 imposition of $5.5m in fines against email marketing company Clarity1, of which $1m was levied against managing director Wayne Mansfield.It was also the first time the Australian Communications and Media Authority had taken legal action over SMS spam.By Andrew Colley
Ex-Morgan Stanley banker sentenced to 7 years in prison in Hong Kong insider trading case
September 22nd, 2009 Before You Invest HONG KONG — An ex-Morgan Stanley banker was sentenced Friday to seven years in prison in Hong Kong’s largest insider trading case — an “unprecedented” scam a judge said undermined the integrity of this leading Asian financial center.Du Jun, a former managing director of the Wall Street investment bank, also was fined about 23.3 million Hong Kong dollars (about $3 million).The 41-year-ancient Beijing-native showed small emotion as a Hong Kong judge chastised him for his “greed” and “dishonesty and fraudulence.” Du risked making the illegal trades even though he was earning well over $2 million a year at Morgan Stanley.”The scale was unprecedented,” Judge Andrew Chan said, referring to the millions Du used in his trades.Du’s lawyer Alexander King declined to say whether his client would appeal, only saying “use your common sense.”Du was convicted last week of nine counts of insider dealing for trading shares of Citic Resources Holdings Limited before the company’s announcement of an acquisition in 2007.
Posted in Finance Fraud Tags: Alexander King, Andrew Chan, Business Elite, Citic Resources, Criminal Offense, Dishonesty, Futures Commission, Greed, Hong Kong Dollars, Illegal Trades, Insider Trading, Investment Bank, Local Security, Malfeasance, Managing Director, Mark Steward, Morgan Stanley, Regulators, Wall Street Investment, Watchdog No Comments »Pimco snags Harvard portfolio manager
August 14th, 2009 Before You Invest Marc P. Seidner jumps from coast to coast to join Bill Yucky as a top fixed-income manager at the Newport Beach bond shopPacific Investment Management Co. LLC has hired Marc P. Seidner as an executive vice president and portfolio manager.He will run several fixed-income portfolios and help formulate investment strategies, the company said in a statement todayMr.
Posted in Finance Fraud Tags: Bill Gross, Chief Investment Officer, Co Llc, Executive Vice, Fixed Income Portfolio, Gross Co, Harvard Management, Investment Management, Investment Professional, Investment Strategies, Management Co, Managing Director, Newport Beach, Pacific Investment Management Co, Pimco, Portfolio Management Team, Portfolio Manager, Portfolios, Professional Bill, Seidner, Snags No Comments »Lake Shore Asset operator charged in $300M fraud
June 16th, 2009 Before You Invest The managing director of a Chicago-based hedge fund has been charged with swindling hundreds of investors in a $312 million fraud scheme.A 27-count federal indictment unsealed Monday charged 44-year-ancient Philip J. Baker with wire fraud, commodities fraud and other offenses.Baker is a Canadian citizen last known to be living in Germany.He allegedly told investors in Lake Shore Asset Management that the hedge fund had generated positive returns since 1993 when it really was losing millions of dollars and hadn’t traded at all prior to 2002.The alleged fraud was first revealed in 2007 when Baker was sued by the Commodities Futures Trading Commission.
Hedge Funds Expect Regulatory Hammer to Fall Within Six Months
May 3rd, 2009 Before You Invest Hedge funds are gearing up for a stricter regulatory environment, and examining the technology they will need to comply with any new requirements.A recent panel discussion hosted by the global organization “100 Women in Hedge Funds” and vendor Linedata Services, focused on a need for funds to provide better transparency for regulators and investors.New regulations are expected to include forcing hedge funds to register as advisors, and potentially to open their books and records to the SEC, said Annie Morris, managing director, Linedata Services.The hedge fund community expects new regulations to be announced within the next six months, Morris added.Meanwhile, the panel of 150 Boston-based hedge fund professionals heard that many hedge funds are now scrambling to adopt stronger electronic infrastructure.”Some smaller funds don’t have large IT staff.
Posted in Finance Fraud Tags: 100 Women, Annie, Business Disaster Recovery Plan, Compliance Rules, Disaster Recovery Plan, Educational Programming, Electronic Infrastructure, Global Association, Global Organization, Hammer Fall, Hedge Fund, Hedge Funds, Managing Director, Panel Discussion, Philanthropy, Professional Women, Regulators, Regulatory Environment, Six Months, Transparency No Comments »
