Nasdaq (NASDAQ:NDAQ) may be forced to upgrade its trading systems, a costly and embarrassing exercise, in order to placate the SEC after the exchange botched up the Facebook IPO.
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According to sources, the Office of the Comptroller of the Currency has embarked on a scrutiny of JPMorgan’s (NYSE:JPM) risk models, and is conducting reviews of the bank’s risk models for various events such as trading losses, interest-rate moves and everything in between.
A disgruntled former employee, Steve Jacobs, who is suing Las Vegas Sands (NYSE:LVS) for wrongful dismissal, has alleged in court filings that CEO Sheldon Adelson approved a “prostitution strategy” at the Macau properties owned by the casino operator. This accusation by Jacobs follows on other allegations of impropriety.
According to Credit Suisse (NYSE:CS) the second quarter should see the bank becoming profitable at the Group level and across all its divisions. The announcement should help its shares recoup after the SNB’s comment last month that the bank needs to substantially shore up its capital this year.
Honda (NYSE:HMC) is seeking to counter concerns regarding Fit, its new electric vehicle, over the car’s driving range, power and the high initial investment required, by offering free collision insurance for customers leasing the vehicle.
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