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Government Agencies SEC

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  • NEW YORK, July 9- Officials from the U.S. Securities and Exchange Commission met with top executives of the New York Stock Exchange on Thursday to learn more about what caused Wednesday's nearly four hour trading halt on the exchange, the regulator said. "At the direction of Chair Mary Jo White, Director of Trading and Markets Steve Luparello is meeting with senior...

  • SEC probes sale of hot private tech shares: Report Monday, 6 Jul 2015 | 1:35 PM ET
    SEC Securities and Exchange Commission

    The SEC is investigating whether investors are improperly selling shares of privately held technology companies, according to a report.

  • 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.

  • Trader on the floor of the New York Stock Exchange.

    Equity research teams are clinging to "buys" and "holds" because they do not want to upset colleagues, the FT reports.

  • 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.

  • 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...

  • 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...

  • 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...

  • 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...

  • Is Elizabeth Warren wrong about SEC? Friday, 12 Jun 2015 | 6:44 AM ET
    Is Elizabeth Warren wrong about SEC?

    Hal Scott, Harvard law professor, shares his thoughts on Mary Jo White's leadership at the U.S. Securities and Exchange Commission. I'd grade her performance an A+, says Scott. Also Scott weighs in on Elizabeth Warren's "tendency to make personal attacks."

  • WASHINGTON, June 11- Two top officials at the U.S. Securities and Exchange Commission called on the regulator on Thursday to update stale rules governing back-office businesses that keep track of stocks as they change hands and of the issuance of shares. The commission had not significantly revised the rules for the operations known as transfer agents in...

  • In an unusual hearing before a standing room-only audience, trial lawyers for the U.S. Securities and Exchange Commission sought to convince the regulator's commissioners of the legality of SEC administrative proceedings. The case involved Timbervest LLC, which was seeking to overturn an August decision by SEC Administrative Law Judge Cameron Elliot...