Tuesday, 25 November 2014
Last updated 3 hours ago
Feb 5 2014 | 8:28am ET
JPMorgan Chase's settlements with Bernard Madoff's victims and the court-appointed trustee recovering money for them has been approved.
U.S. Bankruptcy Judge Stuart Bernstein signed off on the $543 million pact, part of the bank's $2.7 billion deferred-prosecution agreement with the U.S. Justice Department. The deal, struck last month, will see $325 million go to Irving Picard, the trustee, and $218 million to settle class-action lawsuits.
JPMorgan struck the agreement to avoid criminal prosecution for failing to notify U.S. authorities of its concerns about Madoff. The firm served as Madoff's primary banker for decades.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...