Bankruptcy Blogs

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Questioned: The Securities and Exchange Commission has stepped up its probe into Wall Street's foreign hiring practices. Anonymice are telling their favorite news outlets that Citigroup and Morgan Stanley have both received letters requesting information to determine whether the banks violated the Foreign Corrupt Practices Act. Scan readers will recall that, back in August, JPMorgan Chase revealed the regulator was investigating whether the bank habitually hired the children of prominent Chinese officials...

Big-bank executives should finalize living wills, hold each other publicly accountable and re-teach ethics training within their rank-and-file if they hope to escape an escalated regulatory crackdown.

Receiving Wide Coverage ...

A Battle over Board Member Bonuses: A small bank holding compnay has set the stage for a battle over whether activist hedge funds should be allowed to pay preferred board members bonuses. More specifically, Institutional Shareholder Services (of "dethrone Jamie Dimon" fame) is calling on shareholders to vote out three Provident Financial Holdings directors after they unilaterally approved a bylaw barring investor-paid incentives. The vote is indicative of larger tensions that have...

A judge on Monday said he’d decide within the next few days on whether to approve the antitrust settlement between the Justice Department and merging airlines AMR Corp. and US Airways Group Inc. Read the Daily Bankruptcy Review story