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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-23T20:26:00
Bloomberg Finance agreed to pay a $5 million fine for alleged misleading disclosures it made about how it calculated the valuations it provided on fixed-income securities to the financial services industry.
From at least 2016 to October 2022, Bloomberg failed to disclose valuations offered through its paid subscription service, BVAL, could be affected by a single data input, such as a broker quote, the Securities and Exchange Commission (SEC) said Monday in a press release.
Bloomberg disclosed to its BVAL customers “that its independent valuations of fixed income securities are derived by using proprietary algorithmic methodologies,” the SEC said in its order, and described those methodologies in detail.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2021-06-14T18:32:00Z By Kyle Brasseur
SEC Chair Gary Gensler expressed his support for the Fed-backed Secured Overnight Financing Rate over the Bloomberg Short-Term Bank Yield Index, which he believes has similarities to LIBOR that could be manipulated.
2024-11-22T14:39:00Z By Aaron Nicodemus
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
2024-11-22T14:17:00Z By Adrianne Appel
Dr. Mehmet Oz, President-elect Donald Trump’s pick to lead the Centers for Medicare and Medicaid Services, has a mandate from Trump to “take on the illness industrial complex” and to cut costs.
2024-11-21T20:19:00Z By Oscar Gonzalez
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
2024-11-19T21:05:00Z
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
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