Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Report: Bear Stearns Reaches $250M Settlement With Regulators Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, March 14, 2006

Report: Bear Stearns Reaches $250M Settlement With Regulators

by: Marie Glancy

Insiders say that Bear Stearns Cos. has struck a settlement deal with regulators.

A report published by Bloomberg on Tuesday cites unnamed sources who claim the U.S. Securities and Exchange Commission and the New York Stock Exchange last week reached a $250 million settlement with the company. Bear Stearns, the third-largest broker to hedge funds, stands accused of helping hedge fund customers participate in illegal mutual fund trading.

The wave of mutual fund trading scandals set off by the investigations of New York Attorney General Eliot Spitzer has so far elicited more than $3.5 billion in penalties, collected from over two dozen companies. The $250 million figure -- which Bear Stearns announced it had offered three months ago -- would represent one of the largest single settlements. It includes a fine and payment for ill-gotten profits, but Bloomberg's sources say that under the terms of the agreement, Bear Stearns neither admits nor denies any wrongdoing.

Spokespersons for the SEC, the NYSE, and Bear Stearns all declined to comment. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use