Becker pass
Federal prosecutors told former SEC General Counsel David Becker that they won’t probe whether he violated ethics laws by having a financial interest in a policy he worked on relating to Bernie Madoff’s Ponzi scheme.
Lauder shines
Cosmetics maker Estee Lauder rose 17.9 percent to $118.92, after raising its profit forecast, boosting its dividend and setting plans for a stock split.
BofA plan
Bank of America said it may exchange some of its preferred stock for 400 million common shares or $3 billion in debt.
Mass. Raj
Raj Rajaratnam, the hedgie sentenced to 11 years in prison for insider trading, was assigned to a federal prison medical center in Massachusetts, according to a source. The SEC also asked that Rajaratnam pay more than the $10 million fine and $53.8 million in gains that he’s been ordered to forfeit.
LightSquared
Sen. Charles Grassley will place a hold on two FCC nominees because the agency hasn’t answered questions about Philip Falcone’s proposed LightSquared wireless service.