December 30, 2005 |
Oppenheimer & Co. said Thursday that it settled regulatory matters under which it was being fined $4.4 million, including a fine relating to anti-money-laundering issues brought by the New York Stock Exchange. The NYSE, together with the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, said the New York-based financial services firm was being fined $2.8 million relating to failures found in its anti-money laundering program.
September 15, 2005 |
OppenheimerFunds Inc., the mutual-fund unit of MassMutual Financial Group, on Wednesday settled charges by federal regulators that it improperly used shareholders' money to pay marketing expenses. The company didn't disclose that, from 2000 to 2003, brokerage firms were paid to promote its funds with trading commissions drawn from fund assets, the Securities and Exchange Commission said.
October 28, 1989 |
Some of Wall Street's biggest firms are backing off from a form of computerized trading that is widely blamed for making the stock market more volatile. The strongest backlash against computer-driven "program trading" came Friday, when three of the best-known brokerages--Morgan Stanley & Co., Bear, Stearns & Co. and Oppenheimer & Co.--said they will stop using the technique, at least temporarily, when buying and selling securities with their own money.
January 24, 1989 |
Responding to a $150-million cash takeover offer, Arizona developer Del Webb Corp. sued the Los Angeles-based Calmark Holding Corp. investment group for allegedly misleading the public in filings with the government concerning the proposed acquisition. Privately owned Calmark develops, manages and syndicates residential and commercial real estate. Last December, Calmark bought the Vagabond hotel chain from imprisoned Wall Street speculator Ivan F. Boesky.
October 4, 1988 |
Graphic Dynamics Inc. has retained Oppenheimer & Co. of New York and Boston as its financial adviser in the anticipated sale of an industrial revenue bond, company representatives said. GDI, one of the largest commercial printers in Broward County, is preparing to offer an $8.2-million industrial revenue bond this year. Bond proceeds will be used for continuation of a plant and equipment expansion valued at $10 million, the company said.