The Department of Justice (DoJ) reports that the Madoff victim fund (MVF) has begun its initial distribution of $772.5 million in funds forfeited to the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. Bernard “Bernie” Madoff is, of course, the perpetrator of the largest financial fraud in American… Read More >>
Banca IMI Securities Settles ADR Case with SEC
The SEC reports that broker-dealer Banca IMI Securities Corp. (BISC), a wholly owned subsidiary of IMI Capital Markets USA Corp., which in turn is a wholly owned subsidiary of Intesa Sanpaol, an Italian banking group, has agreed to pay more than $35 million to settle charges that it violated federal securities laws when it received… Read More >>
J.P. Morgan
J.P. Morgan Worldwide Securities Services (WSS) is a securities servicing provider for institutional investors, alternative asset managers, broker dealers and equity issuers. The WSS unit offers services for: Commercial Paper GlobeClear (international clearing, settlement and custody) U.S. Broker/Dealers Benefit Payments Collateral Management for Cash, Derivatives and Securities Compliance Reporting Depositary Receipts Direct Custody & Clearing… Read More >>
