Ken fre conference, kate . Were waiting for the start of this slated 1 00 press conference with Preet Bharara. Tough terms coming out of his office from the settlement reached. 1. 8 billion fine related to Insider Trading as well as the surrender of their license. Their ability essentially to manage outside money. They will become a Family Office shortly after the settlement is approved by judges. They have pled guilty to five counts against them, one of wire fraud, four of securities fraud and well hear more detail im sure on what they admitted to in terms of Insider Trading and perhaps not best supervising their employees. In a letter to the judges today two judges who need to approve this settlement in order for it to be set in stone, bharara said considering all things the depth and breadth of the wrongdoing here he thought these penalties were steep but fair. Interesting but lotough languag out of his office. He has amassed a track record of Insider Trading convictions and cases.
Bhahara expected to speak any time now. As we wait, attorney preet bhahara, lets bring sue back in today. Cnbc contribute tore ron used to work at sec. Bob bazani here at the New York Stock Exchange with me. Its going to be a very busy, very fastmoving hour. Let me begin with you, bob, if i might. What are they watching for . I think there is a lot of concern down here simply because they are a big part of the business. The stock trading business has been awful for years, its a low volume, low margin business, and its widely believed that they are 3 of the total volume down here. Thats never been totally confirmed, but they believe that. Also one of the top Ten Commission payers out there. Any pullback from them could hurt the pocketbooks of sktock traders around the united states. Whats taking place for us this morning . What do we expect to hear this afternoon . Will mr. Bharara going to be taking questions or is it just a statement . I imagine he probably will take questions. Its ce
WATERBURY - The city did not have just cause to fire a Waterbury police officer for yelling at a motorist who failed to stop at an intersection in December 2022, the state Board of Mediation and Arbitration said in a decision.
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