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As investors eagerly bought shares in these private start-ups, regulators were scrutinizing brokers and studying how they attracted clients and extracted fees from transactions.
As investors eagerly bought shares in these private start-ups, regulators scrutinized brokers and studied how they attracted clients and extracted fees from transactions.
As a placement agent, Mr. Morris embarked on three years of deal-making, in which he and a Hevesi aide, David Loglisci, extracted fees from private equity firms seeking to manage state pension investments in New York, according to the indictment brought by Mr. Cuomo and a related civil complaint by securities regulators.
Similar(54)
That is fair, and it would be expensive to extract fees from those already there.
"The audacity of Wall Street at extracting fees never ceases to amaze me," Mr. Keating said.
But they might, instead, slowly begin bleeding money out of the Internet economy with quiet threats and expensive carrots, extracting fees and tolls wherever they can.
The outrageous truth is that in many cases banks are blocking such mutually beneficial deals, so that they can continue to extract fees.
But when times are bad, no one wants to extract fees from solvent banks to cover the losses of the failed institutions.
"Each step along the way makes perfect sense, but there are a lot of steps … and at each step there are numerous opportunities for agents to extract fees, often without our being aware of it".
Originally this was used to ensure that no one reconfigured their games console to play unofficial games (meaning that the console maker could extract fees from games companies without fear of competition) and that DVD players weren't modified to play out-of-region discs.
The report found that these problems were "not a consequence of probation privatization per se" but what comes to pass when "public officials allow probation companies to profit by extracting fees directly from probationers, and then fail to exercise the kind of oversight needed to protect probationers from abusive and extortionate practices".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com