SEC

SEC taps Adam Storch as first-ever chief operating officer

Nicole Palmby — Fri, 16 Oct 2009 16:44:44 -0500

The Securities and Exchange Commission named its first-ever chief operating officer today when they hired Adam Storch, executive of the Goldman Sachs Group, Inc.

SEC Charges Merrill Lynch For Not Protecting Customer Order Information

Armen Hareyan — Fri, 13 Mar 2009 09:15:37 -0500

The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner & Smith Inc. with securities laws violations for having inadequate policies and procedures for controlling access to institutional customer order flow. Merrill Lynch agreed to settle the SEC’s charges and pay a $7 million penalty, among other remedies.

Madoff Guilty Of Ponzi Scheme, SEC Charges Two Others

Armen Hareyan — Thu, 12 Mar 2009 13:15:39 -0500

After Bernie Madoff is pleaded guilty in a Ponzi Scheme and ordered to jail SEC has charged two others from California in a multi-million dollar Ponzi scheme type of investment fraud.

Matthew Devlin , Maria Checa, Jamil Bouchareb In Insider Trading

Armen Hareyan — Fri, 19 Dec 2008 09:52:04 -0600

The Securities and Exchange Commission today charged seven individuals and two companies involved in an insider trading ring, alleging that Matthew Devlin, a former registered representative at Lehman Brothers, Inc. in New York City, traded on and tipped his clients and friends with confidential, nonpublic information about 13 impending corporate transactions.

SEC Improves Protections for Seniors and Other Investors

Armen Hareyan — Thu, 18 Dec 2008 08:44:51 -0600

The Securities and Exchange Commission yesterday approved a new rule to help protect seniors and other investors from fraudulent and abusive practices that can occur in the sale of equity-indexed annuities.

Obama May Name Mary Schapiro As SEC Chief

Armen Hareyan — Thu, 18 Dec 2008 07:18:20 -0600

Sources close to Mr. Obama's transition team say he will nominate Mary Schapiro to head the Securities and Exchange Commission (SEC). Schapiro currently heads a self-regulatory group for securities firms. She also is a former head of the Commodities Futures Trading Commission and a former SEC commissioner.

Mamma.com Earns Mark Cuban Insider Trading Charges

Michael Santo — Mon, 17 Nov 2008 13:06:48 -0600

If anyone is a maverick, it's Mark Cuban. Not only is he the owner of the NBA franchise the Dallas Mavericks, he's a billionaire and Chairman of HDNet, an HDTV cable network. He's also poked his nose into things some think he should stay out of, such as commenting on politics and tech --- and blogging as well, on a blog with Maverick in its name. On Monday, he was charged with insider trading in the shares of Mamma.com by the Securities and Exchange Commission (SEC).

SEC Investigating Fake "Steve Jobs Heart Attack" Report

Michael Santo — Sat, 04 Oct 2008 14:48:48 -0500

The SEC has announced an investigation after a fake report indicating that Steve Jobs had suffered a major heart attack caused Apple (AAPL) stock to drop 10%. The report first appeared on CNN's iReport citizen journalism site, which describes itself as a source of "Unedited. Unfiltered. News."

SEC Attacks Short Sellers, Subpoenas Rumormongers

Armen Hareyan — Wed, 16 Jul 2008 10:11:47 -0500

The SEC, tired of being left out of the regulatory party, has launched a few initiatives this week to punish those who are responsible for the current credit crisis: short sellers and rumormongers.

SEC Charges 38 Defendants in Multi-Million Dollar Stock Loan Scams

Armen Hareyan — Thu, 20 Sep 2007 16:11:32 -0500

Stock Loan Traders Paid Phony Finder Fees and Received Kickbacks in Schemes Netting More Than $12 Million in Unlawful Profits

SEC Charges Former Nortel Networks Officers in Financial Fraud Scheme

Armen Hareyan — Thu, 13 Sep 2007 00:16:54 -0500

SEC Charges 4 Additional Former Officers of Nortel Networks Corporation in Financial Fraud Scheme.

SEC Announces Positive Early Results of Penny Quoting Pilot Program

Anastvatz — Sat, 30 Jun 2007 13:48:34 -0500

The Securities and Exchange Commission announced on June 29 that early results from the Penny Quoting Pilot program show lowered trading costs for retail trades. An analysis of reports from the options exchanges by the Commission's Office of Economic Analysis indicate that the Pilot has been successful in narrowing average quoted spreads, which enables investors to trade options at better prices. The reduction in spreads also has led to a reduction in payment for order flow.