March 9 at 3:20 p.m.
Filed under:
Investigations
By Reuters
A lack of investment in crucial technology systems is to blame for material weaknesses identified last year in the U.S. Securities and Exchange Commission’s financial statements, top SEC officials said in testimony prepared for delivery to lawmakers on Thursday.
The weaknesses, identified in a November 2010 report by the Government Accountability Office, were uncovered in the SEC’s information systems and financial reporting and accounting process during an audit of the agency’s fiscal 2010 and 2009 financial statements. Get the full story »
March 9 at 5:53 a.m.
Filed under:
Government
By Associated Press
The U.S. Securities and Exchange Commission has counseled or disciplined 24 employees who accessed pornographic sites on government computers between 2005 and 2010 as the financial system teetered and almost collapsed.
In a letter dated March 3, the SEC responded to a Freedom of Information Act request by Denver attorney Kevin D. Evans listing the offices of the employees. They were in Chicago, Atlanta, Denver, Boston, Los Angeles, Washington, D.C., and Fort Worth, Texas. Get the full story »
March 8 at 7:14 a.m.
Filed under:
Chicago executives
From Crain’s Chicago Business | Fortune Brands Inc. Chairman-CEO Bruce Carbonari received $11.24 million in total compensation during fiscal 2010, 12 percent less than the $12.84 million he earned the year before, according to the company’s proxy filing to the Securities and Exchange Commission. | Get the full story>>
March 7 at 11:11 a.m.
Filed under:
Regulations
From Bloomberg News | The U.S. Securities and Exchange Commission is about 400 employees short of what it needs to manage its current workload, according to a four-month internal review mandated by the Dodd-Frank Act.
March 3 at 3:33 p.m.
Filed under:
Investigations,
Investing
By Reuters
Two Republican lawmakers are probing a decision by the U.S. Securities and Exchange Commission to let the agency’s top lawyer handle matters concerning Bernard Madoff, even though his deceased mother had invested with the swindler.
House Oversight Committee Chairman Darrell Issa and the Senate Judiciary Committee’s top Republican, Charles Grassley, said on Thursday they had sent an inquiry to SEC Chairman Mary Schapiro asking questions about why SEC General Counsel David Becker was allowed to advise the commission on Madoff matters. Get the full story »
March 2 at 5:38 p.m.
Filed under:
Investing,
Regulations
By Associated Press
The Securities and Exchange Commission has taken a step toward curbing risk-taking at big Wall Street firms and reducing the influence of credit-rating agencies, two factors that contributed to the financial crisis. Get the full story »
March 1 at 2:36 p.m.
Filed under:
Banking,
Real estate
By Dow Jones Newswires
HSBC Holdings PLC has suspended its foreclosure proceedings in the U.S. after a regulatory letter noted “certain deficiencies” in its processes.
The London-based bank became the latest to disclose that investigations by the Federal Reserve and the Office of the Comptroller of the Currency into foreclosure practices will likely result in fines and costly changes to the way it runs its mortgage business. Get the full story »
March 1 at 8:56 a.m.
Filed under:
Autos,
IPOs
By Reuters
Chrysler Group LLC has taken the first step to re-enter the U.S. capital markets through filings with the U.S. Securities and Exchange Commission, the automaker’s boss Sergio Marchionne said Tuesday. Get the full story »
Feb. 28 at 9:23 a.m.
Filed under:
Exchanges
By Reuters
Options exchange operator CBOE Holdings Inc. said on Monday that it had filed with U.S. regulators to list all of its S&P 500 Index options on its new, all-electronic platform called C2. Get the full story »
Feb. 18 at 8:35 a.m.
Filed under:
Exchanges,
Investing
By Reuters
U.S. regulators should stem the growing tide of anonymous stock-trading and consider charging high-frequency traders fees for the disproportionate amount of orders they send into the marketplace, said a panel of experts advising how to avoid another “flash crash.”
The report laying out 14 recommendations for the Securities and Exchange Commission and Commodity Futures Trading Commission contains some fresh ideas. Taken together, they would significantly overhaul the high-speed market that has gone increasingly electronic in the last decade. Get the full story »
Feb. 18 at 5:39 a.m.
Filed under:
Banking
By Dow Jones Newswires
J.P. Morgan Chase & Co. Chief Executive Jamie Dimon received a 2010 equity bonus worth $17 million, the biggest bonus for a big name Wall Streeter so far this year. Though the equity bonus is similar to the prior year’s award, it still tops those so far given out to Dimon’s banking peers. Get the full story »
Feb. 10 at 10:37 a.m.
Filed under:
Policy,
Politics,
Regulations
By Reuters
U.S. securities regulators have made numerous missteps in procuring and managing contracts including office leases, the agency’s internal watchdog said on Thursday. Get the full story »
Feb. 3 at 12:31 p.m.
Filed under:
Government,
Investing,
Litigation
By Reuters
TD Ameritrade Holding Corp. will reimburse about $10 million to customers to settle Securities and Exchange Commission charges that it misled them about the safety of a money market mutual fund.
The SEC announced the settlement Thursday after accusing TD Ameritrade of failing to reasonably supervise sales representatives who mischaracterized the Reserve Yield Plus Fund as being as safe as cash or having guaranteed liquidity. Get the full story »
Jan. 25 at 11:44 a.m.
Filed under:
Government,
Retirement
By Monique Garcia and Kathy Bergen | The Securities and Exchange Commission is conducting an inquiry into the state’s financial disclosures about potential savings expected from the pension reforms enacted last spring, Gov. Patrick Quinn’s office confirmed Tuesday morning.
“This is not an investigation, this is an inquiry,” said Kelly Kraft, the governor’s budget spokeswoman. “The SEC has stated this is not an indication of any violation. We feel our disclosures have always been accurate and complete.” Get the full story »
Jan. 25 at 9:46 a.m.
Filed under:
Government,
Investing,
Regulations
By Dow Jones Newswires
The Securities and Exchange Commission issued draft proposals Tuesday to require hedge fund and other private fund advisers to file periodic reports with regulators seeking to assess threats to the financial system. Get the full story »
