The political connections of investors raise questions about Alibaba as it prepares to go public in the U.S. The New York Times reports.» Read More
The SEC said employees of Washington Council EY, a lobbying subsidiary of Ernst& Young, met with congressional staff and tried to influence pending legislation on the two companies' behalf.
WASHINGTON, July 14- Accounting giant Ernst& Young will pay $4 million to settle civil charges that it violated auditor independence rules after one of its units lobbied congressional staffers on behalf of audit clients, U.S. regulators said Monday.
As the SEC investigates CYNK Technology, the days of boiler rooms and high-pressured telemarketing are gone. There is a new pump and dump.
The lawsuit, filed in U.S. District Court in Manhattan, claims that shareholders suffered losses after Lions Gate, which also produces TV shows such as "Mad Men," on March 13 agreed to pay $7.5 million and admit wrongdoing to settle the probe by the U.S. Securities and Exchange Commission.
The lawsuit claims shareholders suffered losses after Lions Gate agreed to pay $7.5 million and admit wrongdoing to settle an SEC probe.
July 11- U.S. regulators on Friday suspended trading in Cynk Technology Corp, citing possible market manipulation in the one-time penny stock whose market value rocketed within weeks from less than $20 million to more than $6 billion.
While the feds investigate CYNK Technology, the traders involved in the company are frozen, and maybe out of luck.
The SEC has halted shares of CYNK Technologies temporarily, after the stock took off in the past month. Former federal prosecutor Joel M. Cohen, and CNBC's Herb Greenberg, discuss what the SEC will investigate, and what will happen to the investors' money if it is indeed fraudulent.
Cohen proved to be a stickler for the letter of the law when it came to paying the criminal penalty imposed on his former hedge fund. The NYT reports.
Despite the publicity from the Madoff case, regulators say a new Ponzi scheme operator is found nearly every week. The NYT reports.
CNBC's Rick Santelli speaks to Nelson Obus, Wynnefield Capital, about his op-ed on regulatory overreach and intimidation by the SEC. Obus says the SEC has "gone beyond rational" and hurts small businesses and the economy.
This was untrue, according to the SEC, because Kings Canyon failed to make some of the annual disclosures of financial information and other events that it had promised to make when it conducted three other bond offerings in 2006 and 2007..
The series of examinations, which will likely begin this summer or fall, will also gauge funds' compliance with securities industry laws and regulations, said Norm Champ, director of the SEC's Division of Investment Management, in prepared remarks published by the agency late on Monday.
The SEC accused Babikian of reaping an illegal $1.9 million profit by selling nearly 1.4 million shares of coal mining company America West Resources Inc after his emailed touts had boosted their price.
WASHINGTON, July 2- An official at the U.S. Securities and Exchange Commission broke ranks with other commissioners and voted against granting BNP Paribas a waiver to continue operating several investment advisory units in the United States.
Lawyers for the SEC told U.S. But Stephen Susman, the Wylys' lawyer, said the SEC failed to show the brothers took any concrete steps to sell the company before executing the swap transactions. In May, jurors found Sam Wyly and the estate of Charles Wyly liable on all counts brought by the SEC in the regulator's largest case to reach trial in recent years.
"I'm grateful that the SEC took the time to consider all the facts and drop the investigation," Matthew Korenberg, the former Goldman banker, said. Korenberg's lawyer John Hueston said the SEC had initially authorized its staff to take action against Korenberg, 39, who worked in San Francisco on Goldman's healthcare team.
Funds managed by Trian collectively own about 28.9 million shares, or about 2 percent, of BNY Mellon after adding to the stake in the first quarter, according to disclosures with the U.S. Securities and Exchange Commission and the person familiar with Trian's investment strategy. "Trian is a respected investment firm," BNY Mellon spokesman Kevin Heine said.
Carol Fox Foelak, an SEC administrative law judge, ruled on Friday that KPMG auditors John Aesoph and Darren Bennett overlooked "numerous red flags" when auditing TierOne Bank's 2008 financial statements.
NEW YORK, June 27- Independent refiner PBF Holding Company LLC will terminate the crude oil supply agreement with Morgan Stanley Capital Group for its Toledo, Ohio, refinery, effective July 31, the company said in a filing with the Securities and Exchange Commission on Friday.