Carribbean bank eyed in Portus probe

Article Abstract:

PDP International Bank, a fledgling bank based in Kingstown, the capital of St.Vincent and the Grenadines is being investigated by the Ontario Securities Commission. OCS has asked an offshore regulator for assistance in gathering information about the bank. The bank is believed to be holding about $700 million worth of Canadian stocks and securities on behalf of controversial hedge fund operator Portus Alternative Asset Management Inc.

Ontario, Securities, Ontario. Securities Commission

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CIBC under U.S. investigation: New York Attorney-General, SEC look at dealings in probe of mutual fund industry

Article Abstract:

New York Attorney-General Eliot Spitzer and the U.S. Securities and Exchange Commission investigated Canadian Imperial Bank of Commerce (CIBC), as part of a widening probe of the U.S. mutual fund industry. The investigators are looking into whether banks contributed to market timing or late trading of mutual funds by providing hedge funds or other investors with financing for the trades.

Management investment, open-end, Mutual fund industry, Canadian Imperial Bank of Commerce, Securities trading, Bank fraud

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TD?s transactions larger than thought

Article Abstract:

A new report from Neal Batson, a court-appointed financial examiner, has discovered that Toronto-Dominion Bank played a key role in financial transactions with Enron Corp. The report shows that TD cooperated with Citigroup Inc. in lending funds to Enron.

Cases, Gas transmission industry, Enron Corp., Toronto Dominion Bank, ENE, Batson, Neal

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