First Marathon's Cartaway debacle
Article Abstract:
First Marathon Inc. has agreed to pay the Toronto Stock Exchange (TSE) C$44 million to settle charges it failed to supervise its employees who placed their own financial assets ahead of clients in Cartaway Container Corp. TSE's 45-page notice of hearing states First Marathon's eight employees acquired control of Cartaway Container, the firm that saw its shares plunge from C$26 a share to C$2 in one trading session in 1996, by buying shares of the company at a very low price and at the same time acted as promoters and underwriters. First Marathon Founder and CEO Lawrence Bloomberg was also fined C$250,000 by the TSE.
Comment:
Agrees to pay Toronto Stock Exchange C$44 mil to settle charges it failed to guide workers who invested in Cartaway Container
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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First Marathon stock halted after leak on talks
Article Abstract:
First Marathon Inc., a stock brokerage based in Toronto, Ontario, saw a halt in the trading of its shares on the Toronto Stock Exchange after a leakage of information on negotiations between the company and securities regulators. The trading of the stock was ceased after the stock exchange noticed a sharp drop in First Marathon's Class A shares on heavy volume. First Marathon hopes to end the talks with regulators and stated that the end result should not have a material impact on its operations or financial status.
Comment:
Trading of shares on the Toronto Stock Exchange is halted after leakage of information on negotiations between co & regulators
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Agency finds dirty money
Article Abstract:
The Financial Transactions and Reports Analysis Centre of Canada has been organized to combat money laundering and terrorism links in the financial services sector. The new governmental agency already has discovered $500 million in suspect financial transactions.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 2003
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