2008年8月17日日曜日

ARS詐欺 捜査対象25社か

ARS詐欺の捜査対象は25社らしい。
NY司法当局と和解した会社も含めて、ARS詐欺の捜査対象は25社らしい。
報道された会社は10社で15社は不明。
Charles Schwab Corp
Citigroup
Fidelity Investments
Goldman Sachs
JPMorgan
Merrill Lynch & Co. Inc.
Morgan Stanley
Royal Bank of Canada
UBS AG
Wachovia Corp.

カナダ、スイスの大手銀行が米国で犯罪を犯している。
銀行の本質とはこんなものだろう。


---金融商品の不透明販売 米、捜査25社に拡大---
http://www.nikkei.co.jp/news/kaigai/20080816AT2M1600J16082008.html

 【ニューヨーク=松浦肇】米司法当局がオークション・レート・セキュリティーズ(ARS)と呼ばれる仕組み債の不透明な販売手法を巡る捜査を拡大している。ニューヨーク州のクオモ司法長官は15日、米大手銀ワコビアとの和解を発表する一方、大手証券メリルリンチを訴える可能性を示唆した。米司法当局が証拠提出を求めた金融機関は25社となり、ARSを発行したり引き受けたりしたケースも捜査対象となる可能性が出てきた。
 ワコビアが合意した和解内容には、販売した価格でARSを個人顧客から買い戻すことや、5000万ドル(約55億円)の罰金を支払うことなどが盛り込まれている。買い戻し額は総額で85億ドル(約9300億円)を超えるもよう。
 クオモ司法長官は15日の電話会見で、メリルリンチに対して訴訟を検討している内容の手紙を送った事実を明らかにした。捜査対象となる可能性があるのは25社で、米メディアによるとゴールドマン・サックスなど大手金融機関も含まれているという。(16日 14:54)


---Wachovia latest to agree to buy back securities---
TARA PERKINS
FINANCIAL SERVICES REPORTER; With files from Bloomberg
August 16, 2008
http://www.theglobeandmail.com/servlet/story/LAC.20080816.RAUCTIONRATE16/TPStory/Business

U.S. authorities, led by New York Attorney-General Andrew Cuomo, have unleashed a barrage of firepower against banks in recent days, following months of investigations into February's collapse of the $330-billion (U.S.) market for auction-rate securities.

In the past eight days, Mr. Cuomo and others have forced financial institutions to buy back nearly $35-billion worth of the securities from clients, and pay more than $300-million in fines. Investigators started with the big fish and are working their way down.

Yesterday, Wachovia Corp. agreed to buy more than $8.5-billion from its customers to settle allegations that it sold auction-rate securities (ARS) as safe, cash-equivalent products, when in fact the securities faced increasing liquidity risk.

Investors across the United States, from individuals to charities to small companies, have been stuck with the bond-like investments, and had flooded regulators' offices with complaints.

The banks that have settled so far - Citigroup, UBS, JPMorgan, Morgan Stanley, and now Wachovia - are among the bigger players in the market, and are collectively responsible for more than half of all auction-rate securities owned by investors, Mr. Cuomo's office said.

"There are dozens of firms who've been involved in this area," Mr. Cuomo said. "We're starting at the top, working our way down."

Royal Bank of Canada was one of about 25 banks subpoenaed in April in connection with the investigation. Analysts believe RBC's U.S. retail customers own about $1-billion worth of the securities.

Mr. Cuomo ratcheted up the pressure against two of the larger players yesterday, threatening Merrill Lynch & Co. Inc. with an "imminent" lawsuit because he believed its offer to buy back $10-billion of the debt was inadequate.

"We were surprised that New York sent us a letter threatening legal action on auction-rate securities," Merrill spokesman Mark Herr said in a statement. "We had been discussing this issue with New York and other regulators since we announced last week our plan to purchase our retail clients' ARS and we thought we were making progress. We anticipated further talks."

"The larger the firm, the larger the portfolio, the more intense our effort," Mr. Cuomo said yesterday. "We have an ongoing discussion with Goldman Sachs. In the course of investigations, we're also having discussions."

A spokesman for his office told Reuters that Fidelity Investments and Charles Schwab Corp. are the latest firms under investigation.

The market for auction-rate securities seized up earlier this year when some financial institutions stopped acting as buyers of last resort, prompting the market to collapse.

The fines that financial institutions are paying will be divided among various states. The North American Securities Administrators Association will distribute the money.

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