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  • NEW YORK— The CEOs of government-backed mortgage giants Fannie Mae and Freddie Mac are getting large raises, to about $4 million a year, as the government relaxes rules that were imposed on the companies after they suffered big losses and were bailed out. In forms filed with the Securities and Exchange Commission on Wednesday, the companies disclosed that...

  • They also agreed to wind down their AlphaBridge Fixed Income Master Fund and two similarly named "feeder funds," which were all launched in 2001, and Carino accepted a three-year ban from the securities industry, the SEC said. Instead, the SEC said the defendants by 2010 were generating those valuations themselves, and encouraging broker-dealers to pass them...

  • District Judge Ronnie Abrams in Manhattan dismissed Tilton's lawsuit against the SEC, saying the head of Patriarch Partners lacked power to stop the agency from pursuing its case against her and her private equity firm in its in-house court. The judge said Congress designated the SEC and then a federal appeals court as the "exclusive avenue of review" of an...

  • The SEC said Goldman sent about 16,000 mispriced options orders to various exchanges on Aug. 20, 2013, leading to about 1.5 million options contracts, representing 150 million shares, being executed within minutes after the market opened. "Firms that have market access need to have proper controls in place to prevent technological errors from impacting...

  • WASHINGTON, June 29- Private equity giant Kohlberg Kravis Roberts& Co. will pay nearly $30 million to settle civil charges that it misallocated more than $17 million in expenses and breached its fiduciary duty to clients, U.S. regulators said. The settlement marks the most high-profile case brought by the Securities and Exchange Commission to date against a...

  • WASHINGTON, June 29- Private equity giant Kohlberg Kravis Roberts& Co. will pay nearly $30 million to settle civil charges that it misallocated more than $17 million in expenses and breached its fiduciary duty to clients, U.S. regulators said.

  • Oops! Congressmen fail hedge fund name game Thursday, 25 Jun 2015 | 2:52 PM ET
    Rep. Jason Chaffetz, R-Utah, speaks during a House Oversight and Government Reform Committee hearing on Capitol Hill in Washington, June 24, 2015.

    Congressmen slammed Obama administration officials for hiring a failed hedge fund manager, but they made a big mistake.

  • SEC to change corporate board election rules Thursday, 25 Jun 2015 | 11:55 AM ET
    SEC Securities and Exchange Commission

    The SEC will propose new rules to simplify the voting process for contested corporate board elections, said chair Mary Jo White.

  • Key Target merchandising exec steps aside Thursday, 25 Jun 2015 | 9:57 AM ET

    NEW YORK— Target's reinvention plan continues. The retailer said Thursday that Kathryn Tesija, who also served as executive vice president, will move temporarily to a strategic adviser role on July 6 and plans to leave the company in April 2016. In a filing with the Securities and Exchange Commission Thursday, Target said that Tesija will continue to receive her...

  • It is an "absolute first" for the SEC to approach companies about possible breaches in connection with an insider trading probe, said John Reed Stark, a former head of Internet enforcement at the SEC. "The SEC is interested because failures in cybersecurity have prompted a dangerous, new method of unlawful insider trading," said Stark, now a private cybersecurity...

  • How SEC hopes to protect retiree investors Monday, 22 Jun 2015 | 3:24 PM ET
    SEC Security and Exchange Commission

    The SEC, working to protect retirement age investors, is regulating brokerages and advisers to comply with a "best interest" policy.

  • SEC Chair Mary Jo White has said the SEC should proceed with its own best-interest rule for the industry. The SEC said its examiners will focus on "certain higher-risk areas of registrants' sales, investment, and oversight processes, with particular emphasis on select areas where retail investors saving for retirement may be harmed. The SEC will also make sure...

  • State Street says SEC may file charges Thursday, 18 Jun 2015 | 5:39 PM ET

    June 18- State Street Corp said it may face enforcement action by the U.S. Securities and Exchange Commission following investigations related to solicitation of asset servicing business for public retirement plans. State Street said on Thursday it received a' Wells Notice' from the SEC specifically relating to the company's relationships with clients in...

  • State Street gets notice of possible SEC lawsuit Thursday, 18 Jun 2015 | 5:26 PM ET

    NEW YORK— Financial services firm State Street said it received notice that the Securities and Exchange Commission may accuse it of violating securities laws in its efforts to win business from public retirement plans. The company said Thursday the SEC's Division of Enforcement wants to sue the company, and the division has asked the SEC itself for...

  • Andrew Ceresney, head of the SEC's enforcement division, said the firms represented about 70 percent of the dollar value of all municipal bonds issued in the United States during the four years ended on Sept. 30. Among the firms charged include units of banks such as Bank of America Merrill Lynch, BNY Mellon, Goldman Sachs, Citigroup, JP Morgan, Royal Bank of Canada...

  • WASHINGTON, June 18- Brokerages that have branched into selling traditional banking products will face increased scrutiny for compliance with anti-money laundering rules, a U.S. regulator said on Thursday. Kevin Goodman, a director at the Securities and Exchange Commission who oversees the brokerage exam program, said in prepared remarks in New York that...

  • Fitbit shows off its pipes in NYSE debut as shares soar Thursday, 18 Jun 2015 | 10:16 AM ET

    Fitbit's initial public offering priced at $20 per share, bringing in more than $730 million and valuing Fitbit at about $4.1 billion in total. Fitbit Inc. is the biggest-selling company in the young fitness tracking gear industry. In filings with the Securities and Exchange Commission, Fitbit said it sold 10.9 million devices last year.

  • Both Montana and Massachusetts are suing the SEC after the agency voted in March to greatly scale back states' rights to police Regulation A deals before they are sold to the public. As part of that effort, Montana had asked the SEC to stay the rule until a federal appeals court could decide the merits of the case. In 2012, Congress required the SEC to boost the...

  • WASHINGTON, June 17- The U.S. Securities and Exchange Commission said on Wednesday it had settled with Sand Hill Exchange for alleged illegal offerings of derivatives to retail investors. Sand Hill sold security-based swaps outside of a national securities exchange and without required registration statements, violating requirements of the Dodd-Frank...

  • WASHINGTON, June 17- The U.S. Labor Department secretary will try to persuade skeptical Republican lawmakers on Wednesday that new draft rules to rein in conflicts posed by brokers who offer retirement advice reflect "the right middle ground in providing greater consumer protection." In addition, the industry wants the Securities and Exchange Commission to...