Bruce Carton

How about this stroke of brilliance from Credit Suisse? Bloomberg reports today that Credit Suisse Group AG’s investment bank will use about $5 billion of its most illiquid loans and bonds to pay senior executives’ employees’ year-end bonuses. The bank will reportedly use leveraged loans and commercial mortgage-backed debt, among the securities blamed for spawning […]

In the summer of 2001, General Electric (GE) acquired Heller Financial. Before the deal was publicly announced, Pequot Capital Management Arthur Samberg directed the purchase of “a little over a million shares” of Heller Financial stock and also directed Pequot to short shares of GE during the same time period. Just after the acquisition was […]

The SEC announced today (click here) that it has finalized settlements with Citigroup Global Markets, Inc. and UBS Securities LLC and UBS Financial Services, Inc. that will provide nearly $30 billion to tens of thousands of customers who invested in auction rate securities before the market for those securities froze in February. The SEC stated […]

Last month I wrote here that although there are virtually no “repeatable” ways to legally trade and profit off of inside information, every once in a while a scenario or idea emerges that puts that proposition to the test. I cited two examples: (1) the recent assertion that some people have early access to, and […]

A couple interesting things I heard this week from people who usually know what they’re talking about when it comes to the SEC: There were several articles today about the SEC’s “Restacking Project,” a reshuffling of offices for nearly all of the 1,900 SEC employees at its 3-year-old DC headquarter. The reshuffling is apparently an […]

Let me go slightly off-topic for just one post here for a public service announcement: You need to go register your law firm or company’s Twitter user name. Now. Exactly one week ago I wrote a column at Securities Docket called, “Please Take 30 Seconds Now, Your Law Firm Will Thank You Later,” in which […]

On December 3, 2008, the First Circuit reversed the District of Massachusetts’ dismissal of an SEC enforcement action against two former executives of Columbia Funds. The SEC’s case alleged fraud related to mutual fund market timing arrangements. The SEC issued a Litigation Release today discussing the case, and noting that the ruling now permits it […]

Enron shareholders are now receiving notices to submit claims in the SEC’s $450 million worth of settlements resulting from its Enron investigation. The shareholders eligible for part of the $450 million are a different group than was eligible to recover in the $7.2 billion Enron securities class action settlement (the claim deadline in the securities […]