Lehman Brothers Holdings Inc said it is cooperating with a US Securities and Exchange Commission probe of brokers in the US$204 billion auction-rate bond market. \nLehman "has received a letter from the commission requesting that it voluntarily conduct an investigation regarding its practices and procedures in connection with those markets," the firm said today in an SEC filing on behalf of the Energy Income and Growth Fund. \n"Lehman Brothers is cooperating with the commission in providing the requested information." \nThe SEC is investigating whether brokers improperly tipped customers to other investors' bids in auctions that set yields for the securities, people familiar with the matter have said. \nInvestors aren't supposed to be able to see competing bids. \nLehman spokeswoman Hannah Burns declined to comment. Lehman included the disclosure in the offering documents for the sale of US$34 million in notes by the energy fund, a sale that the firm is underwriting. The SEC asked about 25 firms that participate in the auction-rate market to conduct similar investigations. The agency's enforcement staff asked brokers to provide reports "detailing any potentially deceptive, dishonest or unfair practices," according to a memo sent to members in May by the Bond Market Association, the Securities Industry Association and the American Bar Association. \nUBS AG, Citigroup Inc, Merrill Lynch & Co, Wachovia Corp, Bank of America Corp and AG Edwards Inc have previously disclosed that they are subjects of the inquiry. The SEC hasn't publicly accused any firm of wrongdoing in connection with the probe.
‘HERO OF THE ERA’: President Tsai Ing-wen expressed deep sadness at Lee’s passing, and told the government to assist his family with all their needs Former president Lee Teng-hui (李登輝) passed away at 7:24pm yesterday at Taipei Veterans General Hospital. He was 97 years old. The hospital stated the cause of death as septic shock and multiple organ failure. Lee had been hospitalized there since February, when he choked on a mouthful of milk at home. He was later diagnosed with pulmonary infiltrates and aspiration pneumonia. The hospital said that Lee had been treated with antibiotics, but that his health had not improved, as his advanced age and diabetes had inhibited his immune system and led to recurring infections. During his hospitalization, Lee underwent daily kidney dialysis, which removed
‘WEAK POSITIVE’: The man arrived in Taiwan in May and was quarantined for two weeks, Chen Shih-chung said, adding that he might be infected a long time ago The government is considering tightening mask-wearing rules again in light of a potential domestic COVID-19 infection, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday. The Central Epidemic Command Center (CECC) confirmed seven new COVID-19 cases, six of which are imported. The other case involves a Belgian engineer who entered Taiwan on May 3 and remained in quarantine until May 17, said Chen, who heads the CECC. Although the source of infection has yet to be identified, the case could end the nation’s record of not having any domestic cases in the previous 110 days. The Belgian, in his 20s, is a technician
RECEIVING TREATMENT: President Tsai Ing-wen, Vice President William Lai and Premier Su Tseng-chang visited former president Lee Teng-hui yesterday morning Taipei Veterans General Hospital yesterday rebutted speculation that former president Lee Teng-hui (李登輝) had died a day earlier, saying that he was weak, but receiving treatment. The hospital said the 97-year-old Lee was not in good condition and needed ongoing care, adding that if there are any changes in his condition, it would make those public. The comments came after rumors emerged online on Tuesday that Lee had died after being hospitalized since early February. Soon after the unsubstantiated rumors emerged, reporters started flocking to the hospital seeking confirmation. Lee was admitted to Taipei Veterans General Hospital on Feb. 8 after choking while drinking
THAI CASE UPDATE: Twenty-nine close contacts of the worker have been tested with two types of tests, including 18 dorm mates, with 28 negative results so far Five imported cases of COVID-19, four from the Philippines and one from Hong Kong, were reported yesterday, bringing the total confirmed cases in Taiwan to 467, the Central Epidemic Command Center (CECC) said yesterday. The four returning from the Philippines were on the same flight, and the local health department has identified 15 people who had direct contact with them — including 10 passengers in the two rows in front or behind them, who have been put under 14-day home isolation, and five crew members, who will practice 14-day self-health management, said Centers for Disease Control (CDC) Deputy Director-General Chuang Jen-hsiang