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Government Agencies SEC

  • WASHINGTON, Jan 26- The U.S. Securities and Exchange Commission said on Thursday that Citigroup Global Markets agreed to pay $18.3 million to settle charges that it overbilled investment advisory clients and misplaced client contracts. The SEC said in a statement it found that at least 60,000 advisory clients of the Citigroup Inc unit were overcharged some...

  • WASHINGTON, Jan 25- The confirmation process for Republican President Donald Trump's choice to chair the U.S. Securities and Exchange Commission appears to be moving forward without any hiccups. Jay Clayton, a lawyer whose specialties include mergers and acquisitions, met privately with Senate Banking Committee Chairman Michael Crapo on Tuesday.

  • The SEC said the civil case arose from the marketing of CitiFX Alpha to Morgan Stanley Smith Barney customers from August 2010 to July 2011, when Citigroup held a 49 percent ownership stake in that joint venture. The SEC also said brokers failed to adequately disclose the markups charged on trades. Their payouts each include a $2.25 million civil fine, plus...

  • The Securities and Exchange Commission has opened a probe into whether Yahoo's data breaches should have been disclosed sooner to investors, the Wall Street Journal reported on Monday.. Operating results for the fourth quarter, featuring a 15 percent gain in revenue from a year ago, appeared to provide some belated vindication of embattled Yahoo CEO Marissa...

  • Marissa Mayer, CEO of Yahoo

    Yahoo reported quarterly earnings that beat analysts' expectations on Monday, and revenue that topped Wall Street's forecasts.

  • Yahoo said in a November 2016 quarterly filing that it was "cooperating with federal, state and foreign" agencies, including the SEC, that were seeking information and documents about a "security incident and related matters." The SEC is investigating whether two massive data breaches at Yahoo should have been reported sooner to investors, the Wall Street...

  • Michael Johnson, chairman and chief executive officer of Herbalife Ltd.

    Herbalife also said it expects fourth-quarter earnings to come in "at the low end of guidance."

  • Jan 20- The U. S Securities and Exchange Commission asked Herbalife Ltd for documents and information related to the dietary supplements maker's compliance with anti-corruption laws in China, the company said on Friday. Hedge fund manager Bill Ackman, who had called Herbalife a pyramid scheme, said a couple of years back that the company was breaking...

  • The General Motors logo on the world headquarters building in Detroit.

    The SEC says GM did not properly assess the potential impact on its financial statements of a defective ignition switch.

  • The deal would resolve charges that accounting control failures at the automaker prevented GM from properly assessing the potential financial impact of the defective ignition switch, which led to vehicle recalls beginning in 2014, the SEC said. The largest U.S. automaker said in a statement it consented to an administrative SEC order, without admitting or...

  • GM settles with SEC for $1 million

    General Motors agrees to pay a $1 million fine to settle SEC accounting control failure charges connected to the ignition switch scandal. CNBC's Phil LeBeau reports.

  • WASHINGTON, Jan 18- Texas- based medical device company Orthofix International NV has admitted wrongdoing and agreed to pay more than $14 million to settle charges that it improperly booked revenue and paid off doctors in Brazil to boost sales, U.S. regulators said on Wednesday. The Securities and Exchange Commission said in a statement that Orthofix...

  • Jan 13- Citadel Securities, the market-making arm of billionaire hedge-fund manager Ken Griffin, has agreed to pay $22.6 million to settle charges that it misled customers about the way it priced trades, the U.S. Securities and Exchange Commission said on Friday. "This affected millions of retail orders," said Stephanie Avakian, the acting director of...

  • WASHINGTON, Jan 17- Billionaire investor Bill Ackman's hedge fund paid $75,000 to settle civil "pay-to-play" charges with the Securities and Exchange Commission after running afoul of campaign contribution and money management rules. Pershing Square Capital Management, which invests roughly $11.6 billion for a number of state pension funds and wealthy...

  • Pershing to pay $75,000 to settle pay-to-play case

    The SEC is charging 10 firms for violating the pay-to-play rule by accepting pension fund fees following campaign contributions. Among those listed is Pershing Square Capital Management. CNBC's Sue Herera reports.

  • "We removed the language at issue from our form separation agreement prior to being contacted by the SEC and there was no finding that this provision ever prevented an employee from communicating with the agency." The SEC in 2011 adopted rules designed to encourage people to come forward with tips about possible corporate wrongdoing. Since 2015, the SEC has...

  • The court will hear an appeal filed by investment adviser Charles Kokesh, who the SEC sued in 2009 for allegedly misappropriating money from several business-development company funds to pay for expenses such as salaries and bonuses. The case hinges on whether the SEC has time limits on seeking disgorgement of ill-gotten gains, a remedy the regulator often...

  • The SEC found that between 2007 and 2010, Citadel used two algorithms to execute stock trades on customers' behalf that often gave investors a worse price for their trades, even when Citadel knew better prices existed elsewhere. The SEC penalized Citadel for failing to disclose the use of those algorithms to clients. "This affected millions of retail orders,"...

  • SANTIAGO, Jan 13- Chilean lithium and fertilizer giant SQM said on Friday it had agreed to pay more than $30 million in penalties to the U.S. Department of Justice and Securities and Exchange Commission to resolve a probe over alleged fake invoices. Meanwhile, SQM said it had agreed with the SEC to pay a penalty of $15 million, also over accounting violations.

  • The SEC said that the billing errors at Morgan Stanley affected more than 149,000 clients. In addition, the SEC said that Morgan Stanley did not comply with custody rules, in which an independent accountant conducts an annual "surprise" exam to ensure asset managers are keeping their clients' money safe. For two consecutive years, the SEC said, Morgan Stanley did...