has settled with the USA’s
and Exchange Commission (SEC) after an investigation found it had failed to
inform customers, numbering about 40,000, about the true risk of the securities
sold to them.
New York State attorney general Andrew Cuomo said the agreement was a turning
point for investors seeking relief from the collapse of the auction-rate
securities market, BBC News reports.
Citigroup agreed to a plan which would give investors, small businesses and
charities all $7.5bn of their money back from auction rate securities (ARS) by 5
The bank was also required to use its ‘best efforts’ to liquidate by the end
of 2009 all of about $12bn worth of ARS sold to retirement plans and other
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements