Regulatory News

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Madoff victims' payout nearing $7.2 billion: trustee

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NEW YORK - Victims of Bernard Madoff's massive Ponzi scheme will get afresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion.

Two more Colorado foreclosure law firms charged with fraud

DENVER - Colorado's Attorney General John Suthers has sued two more law firms in the state for fraud, accusing them of inflating foreclosure costs charged to homeowners, his office said.

U.S., Breakingviews 5:32pm EST

U.S. regulator charges two with insider trading in Abbott deal

NEW YORK/SANTIAGO - A former board member of Chile's CFR Pharmaceuticals SA was charged Monday by U.S. regulators with insider trading on information regarding Abbott Laboratories’ $2.9 billion acquisition of CFR earlier this year.

Breakingviews 2:39pm EST

Alstom to pay record $772 million to settle bribery charges with U.S.

WASHINGTON - The French firm Alstom SA has pleaded guilty and will pay $772 million in criminal penalties to settle charges with the U.S. Justice Department alleging the company bribed government officials to win business around the world.

Breakingviews 2:17pm EST

UBS whistelblower Birkenfeld lodges request for return to Europe

FORT LAUDERDALE, Fla./ZURICH - Ex-UBS banker Bradley Birkenfeld, a whistleblower in a tax fraud case involving the Swiss bank for which he was awarded $104 million after serving more than two years in prison, has lodged a request to be allowed to return to Europe.

Breakingviews 2:41pm EST

U.S. regulator charges two Chileans with insider trading

NEW YORK/SANTIAGO - A former board member of Chile's CFR Pharmaceuticals SA was charged on Monday by U.S. regulators with insider trading on information regarding Abbott Laboratories’ $2.9 billion acquisition of CFR earlier this year.

Breakingviews 6:17pm EST

Michigan board votes to send state money to Detroit pension funds

- A Michigan board on Monday agreed to send nearly $195 million in state funds to Detroit's two retirement systems on Feb. 9 as part of a pivotal deal that helped to end the city's historic bankruptcy, a state spokesman said.

Politics, Breakingviews 2:06pm EST

NY antitrust lawyer, husband charged with defrauding law firms

- A New York antitrust lawyer and her husband were arrested Monday on charges they conspired to defraud two law firms and a client out of $5 million.

Breakingviews 3:49pm EST

Ocwen executive chairman to step down in $150 million settlement

- Ocwen Financial Corp agreed to replace its chairman as part of a $150 million settlement with New York's financial regulator after the mortgage collection company admitted to violations, including improper foreclosures.

Breakingviews 12:06pm EST

CBOE to pass regulatory duties to FINRA

CHICAGO - CBOE Holdings Inc, operator of the biggest U.S. stock options market, will cede regulatory duties to the securities industry's largest independent regulator next week, the company said on Monday.

Breakingviews 1:14pm EST

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