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The Fed has set out measures to allow banks to transfer so-called legacy swaps from the U.K. to a subsidiary based in Europe or America without triggering tougher new margin requirements if Britain crashes out of the bloc without a deal.
Counsel for a defunct hedge fund called on a New Jersey state court Friday to cut a roughly $5.4 million compensatory verdict won by Fairfax Financial Holdings Ltd. and its subsidiary by the amount of blame attributed to settling defendants in an alleged scheme to lower the Canadian insurance company’s share price.
A New York federal judge said Thursday that a brokerage had failed to undermine the analyses of two experts the U.S. Securities and Exchange Commission intends to use in its suit over the alleged use of a market manipulation practice called "layering" and could not have them excluded from trial.
A former Auburn University coach accused in a college basketball corruption scheme will plead guilty next week, following convictions and guilty pleas in recent months against others facing related charges, according to a Friday filing in New York federal court.
The Federal Deposit Insurance Corp. said Friday that it has reached a $335 million settlement resolving its case against PricewaterhouseCoopers LLP over the accounting giant's audit work for the now-failed Colonial Bank, an amount that's roughly half of what an Alabama federal judge had previously said the agency was entitled to in damages.