Corporations & securities brief ~ Canadian market regulators fine CFSB over improper stock trades

[JURIST] In Friday's corporations and securities law news, the Canadian unit of Credit Suisse First Boston (CSFB) will pay Canadian regulators $1.5 million Canadian to settle allegations it improperly traded shares of BCE, Canada's biggest phone company. This is the second-largest fine given by Market Regulation Services, Canada's stock market regulator. The MRS press release is here. Bloomberg has more.

In other news, the UK Office of Fair Trading has filed a complaint with the European Commission that Apple's iTunes is charging too much for its music downloading service in the UK. Currently iTunes downloading service charges UK customers 20% more than French and German customers and bars customers in the UK from logging onto French and German sites to get a cheaper deal. The Financial Times has more.... The SEC announced enforcement actions this week against Eisner Securities of St. Louis after a branch manager embezzled more than $2 million from clients. The St. Louis Post Dispatch has more.... IBM has hired Merrill Lynch to find a buyer for its personal computer unit. The asking price is expected to be $1-2 billion. Bloomberg has more.... European Union officials are asking United States to clarify its position in its complaint to the WTO over alleged unfair subsidies given to Airbus after the US announced it would not bring an action in 2004. AP has more.... ABA Ltd, the world's largest maker of electricity transformers, was dealt a serious blow when a US court threw out the company's $1.3 billion plan to resolve more than 135,000 asbestos lawsuits. The court said the company would have given the company too much protection in future suits. Bloomberg has more.... As previously reported on JURIST's Paper Chase, the Department of Justice announced four executives of German computer chipmaker Infineon Technologies have agreed to plead guilty to charges of participating in a price-fixing scheme. A DOJ press release on the plea deal is available here. Reuters has more.

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