The SEC will discuss rules to improve oversight of the credit rating industry as well as a proposed ban  on flash trades—or buy and sell orders that exchanges send to a specific group of participants before revealing them publicly.

A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.

A global crackdown on bank secrecy and offshore tax havens is gaining steam due to  the worldwide financial crisis, the head of the OECD told CNBC.

Late Tuesday, a federal appeals court, without explanation, denied Allen Stanford's petition to remove U.S. District Judge David Hittner from his criminal case.

The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.

Several banks, including two in the U.S., face new scrutiny as investors and regulators try to sort out the alleged Stanford Ponzi scheme, CNBC has learned. At issue: what the banks and regulators knew about massive deposits and withdrawals from Stanford over the years.

A regulatory ban on so-called flash trading, which gives some big brokerage firms a split-second advantage in buying and selling stocks, will take time to implement, Securities and Exchange Commission Chairman Mary Schapiro told CNBC.

An appeals court has ordered a new, shorter sentence for ex-Qwest CEO Joe Nacchio, saying his 6-year term for insider trading was too long.

Though Sonia Sotomayor is widely expected to win confirmation to the US Supreme Court, the business community is still wondering just what kind of justice she'll be

National Economic Counsel Advisor Larry Summers told CNBC Tuesday that President Obama's call for new regulations in the financial industry has no winners or losers and is more like a re-organization than creating new agencies

An Indiana money manager is set to plead guilty to charges of crashing an airplane near a Panhandle neighborhood in a botched attempt to fake his own death.

The SEC charged Angelo Mozilo, the former chairman and CEO of Countrywide Financial, with insider trading.

The Supreme Court said Monday that it will rule on the constitutionality of the anti-fraud law that grew out of accounting scandals at Enron and other companies.

Stocks flopped Friday, capping a dismal week, as bank stocks pulled back after recent gains.

Stocks opened flat Friday as investors were encouraged by a pair of better-than-expected manufacturing readings but dismal economic data out of Europe and weak U.S. retail reports capped gains.