BNP Paribas SA won a reprieve during final talks to settle a criminal probe into U.S. sanctions violations, giving the bank six months to prepare for a ban on handling certain dollar transactions, according to a person with direct knowledge of the matter.
For about eight years, the group hacked into U.S. companies including Alcoa Inc., United States Steel Corp. and Westinghouse Electric Co. to steal “sensitive, internal communications,” the Department of Justice alleges.
A group of technology companies, including Facebook Inc., Google Inc. and Apple Inc., opposed the bill because of what it called an “unacceptable loophole that could enable the bulk collection of Internet users’ data.”
The CCC was founded by Koutoulas and John Roe shortly after MF Global declared bankruptcy when it became apparent that there was a lack of urgency inside and outside the industry to protect the sanctity of customer segregated funds.
The MF Global debacle was really a slow motion car crash. There were numerous red flags going back a year and the bottom line is that according to the initial bankruptcy filing, there was capital within MF Global Holdings to cover the shortfall in customer segregated funds but the appropriate regulatory authorities did not demand those assets
Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker: