Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Salomon: The Sec Points Its Finger


In Business This Week

SALOMON: THE SEC POINTS ITS FINGER

The Securities & Exchange Commission appears to be sorting out the blame for the Salomon Brothers Treasury bond-rigging scandal. In its settlement agreement, the SEC blames Salomon's ousted top management for failure to supervise their employees. John Gutfreund, Salomon's former CEO, must pay a $100,000 fine and agree not to head any brokerage firm without SEC approval. Two other former top officers were hit with lesser penalties.

On Dec. 2, meanwhile, the SEC sued Paul Mozer and Thomas Murphy, the two former Salomon traders who allegedly placed the improper bids for Treasury securities. Mozer's lawyer calls the suit "pure nonsense." Murphy could not be reached for comment.EDITED BY HARRIS COLLINGWOOD


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus