enforcement

Merrill Lynch to pay $415 million for misusing customer cash: SEC

An SEC investigation found that Merrill Lynch violated the an SEC rule in place for protecting customers' assets by misusing customer cash that should have been deposited in a reserve account, the agency said. The maneuver freed up billions of dollars per week from 2009 to 2012 that Merrill Lynch used to finance its own trading activities, the SEC said. The case is the largest customer protection settlement in SEC history, Andrew Ceresney, direction of the SEC's Division of Enforcement, said in a call with reporters.

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Merrill Lynch to pay $415 million for misusing customer cash: SEC

enforcement

Exiled tycoon Mallya: India wrong to sequester some assets in graft case

Exiled tycoon Vijay Mallya said on Sunday that Indian authorities trying to recover about $1.4 billion from his collapsed Kingfisher Airlines had no legal grounds for sequestering certain assets in a money laundering case. The Enforcement Directorate (ED) tweeted on Saturday that it had “attached” properties worth 14.11 billion Indian rupees ($210.78 million) in the case involving a loan from state-owned IDBI Bank

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Exiled tycoon Mallya: India wrong to sequester some assets in graft case

enforcement

Dean Foods’ Davis said he threw phone in creek to hinder FBI

By Nate Raymond NEW YORK (Reuters) – Dean Foods Co's former chairman Thomas Davis said he threw his cellphone into a Dallas creek to hide his role in an insider-trading scheme after FBI …

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Dean Foods’ Davis said he threw phone in creek to hinder FBI