SEC's Commissioner Dan Gallagher discusses which stock and bond market regulations needs overhaul.» Read More
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.
NEW YORK, Aug 6- A lawyer for Texas businessman Sam Wyly and his late brother Charles on Wednesday urged a U.S. judge to reject the Securities and Exchange Commission's request for as much as $750 million in damages for their role in a fraudulent offshore scheme.
The U.S. Securities and Exchange Commission said Mikhail Galas, Alexander Hawatmeh, Christopher Mrowca and Tovy Pustovit made more than $2.5 million by buying six thinly traded stocks and then artificially driving up their prices through a so-called "pump-and-dump" scheme.
A U.S. judge on Tuesday reluctantly approved a $285 fraud settlement between Citigroup and the Securities and Exchange Commission.
NEW YORK, Aug 5- A U.S. judge on Tuesday reluctantly approved a $285 fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission, two months after an appeals court voided his decision to reject it as inadequate. But he said he feared the 2nd U.S. Circuit Court of Appeals' decision would rob such settlements of any "meaningful oversight."
NEW YORK, Aug 5- A U.S. judge on Tuesday reluctantly approved a $285 fraud settlement between Citigroup Inc and the U.S. Securities and Exchange Commission, two months after an appeals court voided his decision to reject it as inadequate.
NEW YORK, Aug 4- Texas tycoon Sam Wyly and his late brother Charles' estate should pay about $750 million in damages for their role in a fraudulent offshore tax scheme, a lawyer for the U.S. Securities and Exchange Commission told a judge in New York on Monday.
The SEC's Office of Inspector General started the investigation after Reuters published information about the regulator's decision, taken in a closed-door meeting on Sept. 12, 2013, to settle its probe into JPMorgan Chase& Co's massive London Whale trading loss. The SEC made its decision public on Sept. 19, 2013.
The broker, Michael Horowitz of Los Angeles, also admitted to wrongdoing as part of the settlement, the SEC said. Horowitz, the SEC said, recruited people to help him steal personal health information from hospice and nursing home patients so he could designate them as annuitants and sell the products to wealthy investors.
The SEC conducted a dragnet to determine who inside the agency allegedly leaked information about the JP Morgan "London Whale" settlement.
CNBC has obtained the internal SEC Inspectors General Report, which includes details of an SEC investigation into who allegedly leaked details of the SEC deliberations about the London Whale issue with JPMorgan, reports CNBC's Eamon Javers.
July 30- Oil and natural gas producer Hess Corp said it plans to form a publicly traded master limited partnership comprising its pipeline and storage assets in North Dakota's Bakken oil shale field. Hess said it expected the MLP to file a registration statement with the U.S. Securities and Exchange Commission in the fourth quarter.
July 30- Oil and natural gas producer Hess Corp said it plans to form a publicly-traded master limited partnership comprising its pipeline and storage assets in North Dakota's Bakken oil shale field. Hess said it expects the partnership to file a registration statement with the U.S. Securities and Exchange Commission in the fourth quarter.
July 29- DreamWorks Animation SKG Inc said the U.S. Securities and Exchange Commission is investigating the company's write-down of film inventory on "Turbo". DreamWorks took an impairment charge of $13.5 million, or 12 cents per share, on "Turbo" in the fourth quarter due to the poor performance of the movie, about a garden snail that races in NASCAR.
Retirees offered 365 tips to the SEC, the most of any occupation, since the agency started its whistleblower program in 2011.
WASHINGTON, July 29- An attorney at the U.S. Securities and Exchange Commission who once helped craft legislative language for the "Volcker rule" and other major pieces of the 2010 Dodd-Frank financial reform law is returning to Capitol Hill.