Massachusetts regulators on Friday fined a Citigroup unit $2 million for failing to prevent analysts from illegally leaking confidential information about Facebook's initial public offering.
Citigroup (C) was one of several banks that competed to underwrite Facebook's (FB) IPO, along with lead underwriter Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC) and others.
Under U.S. securities law, IPO underwriters are not allowed to publish research on a company until MOREBen Rooney - Oct 26, 2012 11:11 AM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
It's been a great year for bank stocks. The KBW Bank Index (BKX) has surged more than 30%, easily outperforming the broader market. And Bank of America (BAC) is up nearly 70%, making it by far MOREPaul R. La Monica - Oct 11, 2012 12:29 PM ET
The world's top mutual fund managers say the U.S. stock rally is about to come to an end.
More than half, or 58%, of 253 fund managers surveyed by Bank of America Merrill Lynch say stocks are the most overvalued investments in the world. That's up from 51% in an August survey.
Many investors and market watchers have been confounded by the U.S. stock market rally of 2012 amid what appears MOREMaureen Farrell - Sep 19, 2012 12:23 PM ET
Banks have had their share of bad publicity recently, but investors continue to give them the benefit of the doubt.
Standard Chartered (SCBFF) is a prime example.
The British bank's stock has recouped nearly all of the losses sustained earlier this month, when the bank was accused of laundering money for Iran.
U.S.-listed shares plunged to a low of $18.65 on Aug. 7, one day after banking regulators in New York threatened to MOREBen Rooney - Aug 24, 2012 7:04 AM ET
Paychecks for executives and top employees at the world's largest financial institutions are expected to get only a little bit bigger in 2012.
Compensation at the big banks will remain far below the highs of 2007, but overall, top executives could see paychecks and bonuses jump by as much as 10% in 2012.
Compensation consulting firm Johnson Associates projects that overall pay will hover between remaining flat and increasing up to 10%, MOREMaureen Farrell - Aug 17, 2012 11:21 AM ET
|Black Monday 1987: Remembering the worst day in Wall Street history|
|Soon, there will be just 3 black Fortune 500 CEOs|
|Judge rejects Martin Shkreli's request to release his bail|
|Meet the bears predicting stock market doom|
|SeaWorld is laying off 350 workers as attendance wanes|