All articles tagged with #probe
Standard Chartered's shares dropped nearly 9% after a US Republican lawmaker called for an investigation into the bank over alleged sanctions evasion, despite the bank denying the allegations and stating they are false and repeatedly dismissed by US courts.
A growing number of top aides in President Biden's administration are invoking the Fifth Amendment amid a broad investigation involving subpoenas and legal threats, highlighting the legal challenges faced by the White House officials.
A reform group, Common Cause New York, has called for an investigation into Andrew Cuomo's campaign, alleging improper coordination and undisclosed in-kind contributions involving lobbying firm Tusk Strategies, which provided free campaign services and conducted polls that may have influenced the race. The group urges regulators to scrutinize these activities and consider stripping Cuomo of public funds, amid ongoing concerns about campaign finance violations.
US regulators have expanded their investigation into Morgan Stanley's wealth management business, with more agencies joining the probe. The investigation is focusing on the firm's practices related to its wealth management business, and the involvement of additional regulators indicates a widening scope of the inquiry.
Morgan Stanley's wealth management arm is reportedly under investigation by multiple regulators including the SEC, OCC, and other Treasury Department offices, causing the bank's shares to fall. The probes are focused on the bank's due diligence on prospective clients, monitoring of financial activity, and international clients. This comes after the bank recently resolved an investigation into its block trading practices. Spokespeople for Morgan Stanley and the regulators did not immediately respond to requests for comment.
The movement of a pilot's seat is a key focus of the investigation into a sudden mid-air dive by a LATAM Airlines Boeing 787 that left over 50 people injured. The seat movement, believed to be "pilot induced, not intentionally," caused the nose-down angle of the aircraft, with the possibility of an electrical short also under review. Boeing is expected to release a message to 787 operators regarding the incident, and Chile's aviation regulator is leading the probe. The cause of the flight's sudden change in trajectory remains unexplained, and the cockpit voice recorder and flight data recorder have been seized for investigation.
Morgan Stanley has agreed to pay $249 million to settle a criminal investigation and a related Securities and Exchange Commission probe regarding the unauthorized disclosure of block trades to investors by the bank's employees. The settlement includes a non-prosecution agreement with the U.S. Attorney's Office and an admission of responsibility by the bank. The SEC charged Morgan Stanley with failing to enforce policies related to the misuse of material non-public information. Former equities executive Pawan Passi, involved in the misconduct, has entered into a deferred prosecution agreement and must pay a civil penalty. The bank stated that it has made enhancements to its controls around block trading, while Passi's lawyer expressed relief that criminal conviction was not pursued.
A federal judge has tentatively ruled that Tesla CEO Elon Musk must testify again in the U.S. Securities and Exchange Commission's (SEC) probe of his $44 billion Twitter takeover. The judge rejected arguments by Musk's attorney that SEC officials do not have the authority to issue subpoenas, stating that the agency has broad investigative powers. The SEC is investigating whether Musk followed the law when filing paperwork about his Twitter stock purchases and whether his statements were misleading. This is the latest development in a long-standing feud between Musk and the SEC.
The Office of Inspector General for the General Service Administration (GSA) is launching an investigation into the agency's site selection process for the new FBI headquarters in Greenbelt, Maryland. The selection has faced criticism from Virginia's congressional delegation, who accused the administration of allowing politics to influence the decision. The GSA has welcomed the review and defended the selection, stating that it followed the required process. FBI Director Christopher Wray expressed concern about a potential conflict of interest in the selection process. Virginia lawmakers have applauded the investigation and called for a pause in relocation activities until it is complete.
China has launched an investigation into Zhongzhi, a struggling shadow bank, as part of its efforts to crack down on financial risks in the country. The probe comes amid concerns over the stability of China's financial system and the potential for a debt crisis.
Scientists have simulated a probe descending into the atmospheres of Uranus and Neptune, the two least understood planets in our solar system. The tests, conducted at Oxford University and the University of Stuttgart, simulated the heat fluxes and convective heating that a probe would experience upon entry into the atmospheres of these icy giants. Further tests will simulate actual entry rates, providing valuable information about the nature of these planets and potentially aiding in our understanding of planetary system formation. Both NASA and the ESA have expressed interest in visiting Uranus and Neptune in future missions.
Elon Musk has filed objections in federal court, asking a judge not to force him to testify in the U.S. Securities and Exchange Commission's (SEC) probe into his $44 billion takeover of Twitter. Musk's lawyers argue that the SEC's subpoena exceeds its investigative authority, is burdensome, and seeks irrelevant evidence. The SEC has been investigating Musk's Twitter stock purchases and his statements and filings related to Twitter, which he renamed X. Musk's lawyers claim that the SEC's pursuit of him has crossed the line into harassment. The court battle is the latest in the ongoing contentious relationship between Musk and the SEC.
French financial prosecutors raided the headquarters of Paris 2024 Olympics and targeted event management firms as part of an ongoing investigation into alleged favoritism. The organizers confirmed the raid and stated their full cooperation with the investigation. The probe is focused on suspicions of illegal taking of interest, favoritism, and concealment in the awarding of contracts.
The European Union has launched an investigation into X over allegations of spreading misinformation during the Israel-Hamas war. The probe aims to determine whether X violated EU laws by disseminating false or misleading information that could have influenced public opinion on the conflict.
The U.S. Securities and Exchange Commission (SEC) is suing Elon Musk, CEO of SpaceX and Tesla, in an attempt to compel him to testify as part of an investigation into his $44 billion takeover of Twitter. The SEC is examining whether Musk violated federal securities laws in 2022 when he purchased stock in Twitter, which he later renamed X, as well as the statements and filings he made regarding the deal. Musk initially agreed to appear for testimony but later raised objections and refused to attend. This lawsuit adds to Musk's ongoing legal challenges, including investigations by the Justice Department and federal prosecutors.