NewsMine — cabal-elite — corporate — accounting-fraud — Viewing Item

Banks deleted email Original Source Link: (May no longer be active)    http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020802/ap_wo_en_po/us_banks_fines_1 http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020802/ap_wo_en_po/us_banks_fines_1 AP World Politics Investment banks may face fines for deleting e-mail Fri Aug 2, 1:51 PM ET By PETER SVENSSON, AP Business Writer NEW YORK - Securities regulators are planning to fine six investment banks for failing to produce e-mails sought in investigations into industry practices, sources said Friday. The Securities and Exchange Commission (news - web sites), the regulatory arms of the New York Stock Exchange (news - web sites) and the National Association of Securities Dealers have proposed fining the banks a total of dlrs 10 million for failing to store their e-mails as required, according to sources close to regulators and one of the investment banks who spoke on condition of anonymity. Securities companies are required to retain e-mails and other documents for three years. Morgan Stanley, Goldman Sachs Group, Citigroup's Salomon Smith Barney, Merrill Lynch, Deutsche Bank and U.S. Bancorp Piper Jaffray are being targeted. Neither the banks nor regulators commented officially on the matter. The SEC currently is conducting investigations at about a dozen firms on how stocks are allocated to investors in initial public offerings and whether investment banking taints analyst coverage, among other things. Analyst e-mails were a crucial part of New York attorney general Eliot Spitzer (news, bio, voting record)'s case against Merrill Lynch, which agreed in May to pay a dlrs 100 million fine for touting stocks of companies because it sought investment banking business from them. A source at one of the investment banks said the proposed fine was not related to Spitzer's inquiry, but could not say which e-mails were sought.

Adelphia founder and son convicted of fraud { July 9 2004 } Adelphia jailed AIG used hedge funds to report gains Bank one mutual fund fraud probe { November 27 2003 } Banks deleted email Bristol meyers Bush angered speech { June 28 2002 } Bush cheney hens { July 9 2002 } Bush stock sell { July 21 2002 } Bush violated laws Cheney Citigroup morgan Citigroup skirt rules Congress grills banks Corporate reforms reassessed { July 23 2004 } Ernst young auditing firm barred auditing six months { April 17 2004 } Everybody outraged { July 2 2002 } Gore bashes bush Harken energy bush { July 12 2002 } Insurance accounting fraud by buffett subsidiary Insurance AIG cooks books and apologizes { February 10 2006 } Lieberman soft on corporate crooks { July 29 2002 } Lynch enron scam { August 8 2002 } Martha stewart convicted Martha stewart seeks retrial after government perjury Mccain proposal { July 12 2002 } New york chinatown bank rush { April 22 2003 } Newscorp worldcom No corporate reform { June 10 2002 } On wall street a rise in dismissals over ethics { March 29 2005 } Post saves bush { July 12 2002 } Qwest admits Scandal closes mutual fund security trust { November 26 2003 } Scandal markets { June 26 2002 } Schwab mutual funds improper trading { November 14 2003 } Sec charges dallas firm with fraud { December 5 2003 } Sec probes disney { December 4 2002 } Sec probing ibm { June 2 2003 } Sec told to get tough mutual fund fraud Secret service stewart witness charged with perjury Time warner may pay 750m fine Tyco execs charged { September 13 2002 } Xerox admits fraud Files Listed: 43

Correction/submissions

CIA FOIA Archive

National Security Archives

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information, go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purpose of your own that go beyond 'fair use', you must obtain permission from the copyright owner.