4 Financial Stock Stories To Take to the Bank

UBS (NYSE:UBS): Current price $15.59

On Monday UBS reported that it has filed an arbitration demand against Nasdaq OMX Group over losses from Facebook’s problematic May IPO. The former’s intention is to be fully compensated for its losses, which it has said went over $350 million. Also on Monday, Nasdaq said that the U.S. Securities and Exchange Commission okayed its compensation plan for firms harmed in the IPO, which would compensate a total of $62 million, spread out over all qualifying firms that  for reimbursement.

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UBS

Manulife Financial Corporation (NYSE:MFC): Current price $14.67

The insurer has said that it paid Chief Executive Donald Guloien C$10.4 million in 2012, representing a 20.5 percent rise from 2011 because of  the company’s increased profit. Guloien led Manulife through a rebuilding as it has shrank its exposure to financial markets, and earned base salary of C$1.1 million, along with other compensation including stock and options awards of C$6 million and a cash bonus of C$2.8 million, said a regulatory filing. That amount was up from C$8.7 million in total compensation for 2011.

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MFC

Bank of America Corporation (NYSE:BAC): Current price $12.25

Investor pressure appears to be prompting Bank of America to initiate a new compensation policy through which Chief Executive Brian Moynihan and a number of other top executives will be required to hold many shares for a minimum of a year after they retire, says Reuters, citing exchanges between the firm and the Securities and Exchange Commission.

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BAC

Goldman Sachs Group (NYSE:GS): Current price $145.34

It seems to be official: The investment bank nicknamed “Government Sachs” because so many senior executives who have moved into public posts, will not be entering politics itself. The idea was proposed in 2012 by Harrington Investments President John Harrington, who said that the $6.39 million in 2012 political contributions from Goldman employees risks doing more harm to its reputation. He also said that the bank should explore running for office, using a United States Supreme Court ruling that corporations have similar political rights to those of individuals, explaining that “It would be less damaging to the integrity of our political system and our company, for our corporation to directly run for office as a person under federal or state law, than to continue in the current form of political participation.” However, a letter last month from the U.S. Securities and Exchange Commission agreed the firm can exclude the measure from a vote at its annual meeting, thus removing that potential hot potato from Goldman executives.

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GS

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