The average bonus paid to employees in New York City’s securities industry increased by 3 percent in 2019 to $164,100, but it is likely to fall sharply in 2020 as the coronavirus crisis strains industry profitability, according to annual estimates released this week by New York State Comptroller Thomas P. DiNapoli. “The securities industry had […]
BY RICHARD LAWLESS This is truly a story about David verses Goliath. Over the past four to five months, two hundred and forty small claims court lawsuits have been filed with the California Superior Court. The plaintiffs claim that the executives at the three largest credit rating agencies, Moody’s, Fitch and S&P engaged in securities fraud, mail fraud, wire […]
PRESS RELEASE FROM THE STATE COMPTROLLER’S OFFICE Cash bonuses paid to New York City securities industry employees are forecast to rise by 8 percent to $20 billion during this year’s bonus season, according to an estimate released by State Comptroller Thomas P. DiNapoli. “Wall Street is still in transition, but it is slowly adjusting to changes in its economic […]