Saturday, 21st November 2009

 

17 June 2009 - Press Briefing

Madoff gets SEC permission to settle civil fraud charges

Bernard Madoff was on Tuesday allowed by the US Securities and Exchange Commission to resolve civil fraud charges without admitting to any wrong-doing, according to a report in the Financial Times.

The settlement also barred the swindler from associating with any broker, dealer or investment adviser. Madoff, who in March pleaded guilty to 11 charges linked to his $64bn (€46.1bn) Ponzi scheme, is scheduled to be sentenced to a long prison term this month, the FT report said.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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