June 9, 1999 |
Merrill Lynch & Co., Goldman Sachs Group Inc. and Bernard L. Madoff Investment Securities said Tuesday that they plan to start an electronic auction market for stocks that would let investors offer better quotes than those displayed on U.S. markets. The three brokerages, seeking to position themselves in the rapidly changing electronic securities markets, said they formed a company called Primex Trading that will offer anonymous broker-to-broker trades starting in the second quarter of 2000.
February 6, 2009 |
Call it Six Degrees of Bernard L. Madoff. To a roster that already included such notables as director Steven Spielberg and actor Kevin Bacon, add actor John Malkovich, talk-show host Larry King and retired Dodgers pitching ace Sandy Koufax among those hurt by Madoff's alleged Ponzi scheme. Their names appeared on a New York Bankruptcy Court filing late Wednesday that listed thousands of people and institutions allegedly duped by Madoff.
December 21, 2008 |
Sarah Mandell and her husband, Bob Chew, wanted to cut their expenses and lead a "simpler life," so in 2004 they sold their house in Los Angeles and set out for the mountains of Colorado. To secure their future, they took the money from the house and invested it with Stanley Chais of Beverly Hills. It seemed like a safe bet: Chais was a wealthy investment advisor and trusted family friend who had produced strong returns for Mandell's relatives for two decades.
September 22, 1999 |
Securities and Exchange Commission Chairman Arthur Levitt may propose combining the brokerage-policing units of U.S. stock markets into a single organization separate from the exchanges, an SEC official said Tuesday. Levitt plans in a New York speech Thursday to urge the established markets and new electronic trading networks to end growing fragmentation of stock quotes and prices by finding new ways to share this information, SEC market-regulation director Annette Nazareth said.
September 21, 2001 |
Temporary rules designed to stem stock market declines may be extended for another week as the Securities and Exchange Commission plans to decide today whether to keep the emergency measures in place. "They've had a very positive effect without unduly influencing the market," SEC Chairman Harvey Pitt said in an interview Thursday after testifying before the Senate Banking Committee.
December 28, 2008
So Securities and Exchange Commission Chairman Christopher Cox wants an investigation into why his commission did not investigate Bernard L. Madoff after so many red flags. ("Critics assail watchdog's lax oversight," Dec. 18.) Cox is the same SEC commissioner who, when the subprime mortgage disaster first came to public light, said that maybe having a self-regulating financial industry wasn't such a great idea after all, or words to that effect. This "Heck of a job, Brownie!" president we're still saddled with and his infamous, ignoble loyalty to Cox and anyone in his administration further harm this country every day he remains in office.
May 9, 2011 |
The trustee seeking money on behalf of Bernard Madoff's victims announced on Monday a $1-billion settlement with liquidators for three large "feeder funds," boosting payouts to the swindler's former customers. Irving Picard said the agreement reduces the claims that the Fairfield funds, which had been affiliated with Fairfield Greenwich Group, have against a fund he administers for former Madoff customers. The claims will be reduced to about $230 million from $1.2 billion, he said.
September 29, 2010
At the time of his death, former Beverly Hills money manager Stanley Chais was facing several civil lawsuits related to his financial investments with Bernard L. Madoff. He also was under criminal investigation by the U.S. attorney's office in New York. No criminal charges were filed. The civil lawsuits pending include: Picard lawsuit: Irving H. Picard, trustee overseeing the liquidation of Madoff's assets, sued Chais, his wife, Pamela, and several family members in Manhattan Bankruptcy Court in May 2009, seeking to recover hundreds of millions of dollars Picard said were ill-gotten profits from Madoff's Ponzi scheme.
February 10, 2009 |
The Securities and Exchange Commission on Monday announced an agreement with disgraced money manager Bernard L. Madoff that could eventually force him to pay a civil fine and return money raised from investors. The partial judgment, which renders permanent a preliminary injunction that froze Madoff's assets after his arrest in December, must be approved by the judge overseeing the case in federal court in Manhattan.