abstract:Special settlements in the securities markets exist for OTC trades. It allows a settlement day to be chosen at the time of trading which is outside of the market norms.
Two reports by the state ethics board and a special prosecutor criticized Silver for the settlement, which they said violated Assembly policy for handling such claims.
Liggett Group, for a long time controlled by financier Bennett LeBow, has pumped out half a billion dollars in dividends thanks to special, lower rates it pays under the settlement.