Alibaba's long-awaited IPO is finally around the corner, making this a good time to take a look at just how an IPO works.» Read More
Aug 21- Citigroup Inc has been sending hedge fund firms letters informing them that it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the U.S. Securities and Exchange Commission, the Wall Street Journal reported.
Representative Jeb Hensarling, who leads the House of Representatives' Financial Services Committee, said in the letter to SEC Chair Mary Jo White that the leaks raised questions about who attends closed agency meetings and hurt the SEC's ability to enforce securities laws.
Congressman Jeb Hensarling criticized the SEC for leaks to the news media in a letter that was, well, leaked.
Billionaire investor Carl Icahn revealed he owns an 8.5 percent stake in Hertz and plans to pressure the rental car company's management.
Aug 19- Southeastern Grocers LLC, which operates supermarket chains Winn-Dixie and BI-LO, said on Tuesday it would withdraw its plans for an initial public offering. The Jacksonville, Florida- based company filed with the U.S. Securities and Exchange Commission in September for an IPO of up to $500 million.
Community Health Systems said a group believed to be operating out of China attacked its hospitals, affecting 4.5 million patients. Re/code reports.
FINRA charged Wedbush Securities with having shoddy risk controls, a flaw that allowed traders to flood U.S. markets and execute manipulative trades.
Aug 15- U.S. regulators are investigating the auditor of Cynk Technology Corp, the social media company that was briefly worth more than $6 billion in June before its shares plummeted, the Wall Street Journal reported, citing people close to the probe.
Aug 14- U.S. securities regulators are looking at the hostile takeover bid made by billionaire investor William Ackman and Valeant Pharmaceuticals for Botox maker Allergan Inc, a person familiar with the matter said on Thursday.
The SEC said Toth called his financial advisor and arranged to buy 5,000 shares of O'Charley's after his client revealed the impending acquisition during a tax-planning meeting. Nash bought 10,000 shares, while Schlossberg tipped his business partner, Moshe Manoah, and the two of them jointly bought stock using an account held by Manoah's wife, the SEC said.
The New York- based firm, which ceased acting as a broker-dealer in April 2013, has agreed to pay $14 million to settle the charges, the SEC said in a statement. The SEC said on Thursday brokers at the firm defrauded customers by promising very low commission fees, but charging fees that in some cases were more than 1,000 percent greater than represented, the SEC said.
Aug 14- A hostile takeover bid by billionaire investor William Ackman and Valeant Pharmaceuticals International Inc to acquire Allergan Inc is being investigated by federal regulators for possible violations of securities laws, the Wall Street Journal reported, citing people familiar with the matter.
The Dow Jones is reporting the SEC is in early stages of investigating Valeant and Pershing Square's pursuit of Allergan. CNBC's Scott Wapner has the details.
The Dow Jones is reporting the SEC is investigating Valeant and Pershing Square's pursuit of Allergan. CNBC's Scott Wapner has the details.
The trustee Irving Picard contended last month that Andrew and Mark Madoff obstructed a 2005 U.S. Securities and Exchange Commission probe by deleting emails that linked them to fraud at Bernard L. Madoff Investment Securities LLC, and took out sham loans to buy pricey Manhattan apartments.
Kansas, which was under investigation for four years, has already implemented reforms in how it discloses its pension liabilities and has agreed to settle the charges for its prior incomplete disclosures, without admitting or denying the charges, the SEC said.
WASHINGTON, Aug 11- The U.S. Securities and Exchange Commission said on Monday it has charged Kansas with fraud for not properly disclosing funding problems with its public pension plan, in the third time the federal regulator has taken action against a state.
Aug 8- The chief executive of a New York brokerage was criminally charged on Friday with lying to the U.S. Securities and Exchange Commission and faking documents to disguise how his firm did not have enough capital. Charles Moore, 62, was arrested Friday morning at the offices of his firm, Crucible Capital Group Inc, in downtown Manhattan, U.S.
The SEC in 2010 approved the rule, which prohibits investment advisers from making campaign contributions in the hope of being awarded lucrative contracts to manage public pension funds, a practice known as "pay to play". The SEC declined to comment on the lawsuit.
Aug 7- A Securities and Exchange Commission judge has ordered a San Diego- based investment firm to pay a $15 million penalty and barred its two advisers from the securities industry for a scheme that defrauded clients out of $10.9 million.