Government Agencies SEC

  • NEW YORK, Oct 31- A New York auditor on Monday settled U.S. Securities and Exchange Commission charges that it issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, New York, and its local development corporation, which were charged with fraud in April. The SEC said PKF O'Connor Davies and senior partner Domenick...

  • The PwC partner, Adrian Beamish, based in San Jose, California, failed to determine whether an adviser to Burrill Life Sciences Capital Fund III was properly authorized to take the money, the SEC said. Beamish will have an opportunity to rebut the agency's allegations at a hearing, the SEC said. The SEC's administrative proceedings against Beamish will determine...

  • NEW YORK, Oct 31- A New York auditor on Monday settled U.S. Securities and Exchange Commission charges that it issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, New York and its local development corporation, which were charged with fraud in April. The SEC said PKF O'Connor Davies and senior partner Domenick...

  • Oct 31- A PricewaterhouseCoopers audit partner failed to scrutinize millions of dollars taken from a venture capital fund under the guise of "advanced management fees," the U.S. Securities and Exchange Commission said in a complaint on Monday.

  • Time to reform shareholder activism?

    John Engler, Business Roundtable president, and John Hayes, Ball Corp. president and CEO, discuss why shareholder activism is detracting from creating long-term value, and where the shareholder proposal process needs improvement.

  • BOSTON, Oct 26- The top U.S. securities regulator on Wednesday outlined rule proposals to allow so-called' universal' proxy cards for investors to use in contested corporate elections. The proposals "would strike the appropriate balance," said Mary Jo White, chair of the U.S. Securities and Exchange Commission, speaking at a meeting in Washington, which was webcast.

  • NEW YORK Oct 24- On Monday, Time Warner filed a disclosure at the Securities and Exchange Commission of its $85 billion merger agreement with AT&T. The SEC filing includes a provision notifying investors that Time Warner amended its bylaws over the weekend to direct all shareholder litigation to Delaware Chancery Court. The net effect of this recent precedent,...

  • At the start of a trial in Manhattan, Randy Mastro, Tilton's lawyer, told an administrative law judge that the founder of New York- based Patriarch Partners did not defraud investors, who were instead well aware of her investment strategy. He urged SEC Administrative Law Judge Carol Fox Foelak to force Tilton, 57, and Patriarch Partners to pay at least $200 million...

  • Embraer and U.S. investigators said an investigation had found evidence of wrongdoing in deals with Saudi Arabia, India, Mozambique and the Dominican Republic from 2007 through 2011.. A complaint from the U.S. Securities and Exchange Commission alleged that Embraer had made more than $83 million in profits from foreign contracts involving $11.7 million in...

  • Will regulators approve a ATT-TWC merger?

    Christopher Sagers, Cleveland State University law professor, discusses the possible antitrust complications of the AT&T-Time Warner merger.

  • NEW YORK, Oct 18- Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. In addition, the SEC filing said Gemini's...

  • NEW YORK, Oct 18- Investors Cameron and Tyler Winklevoss on Tuesday filed amendments to their proposed bitcoin exchange-traded fund, naming State Street as administrator, according to a filing with the Securities and Exchange Commission. If approved by the SEC, this would be the first bitcoin ETF issued by a U.S. entity. In addition, the SEC filing said Gemini's...

  • Calvert said it would pay a $3.9 million penalty and reimburse affected shareholders as part of the settlement. "The mistakes made in the past are regrettable and Calvert sincerely apologies for them," Calvert Chief Executive John Streur said in a statement. The case against Calvert centered on illiquid, or hard to price, bonds issued by Toll Road Investors...

  • Oct 18- Calvert Investments said on Tuesday it overstated the value of some of its mutual funds for several years and agreed to settle the case with the U.S. Securities and Exchange Commission. Calvert said it would pay a $3.9 million civil penalty and reimburse affected shareholders as part of the settlement. Between March 18, 2008 and Oct. 18, 2011, Calvert...

  • WASHINGTON, Oct 18- Ernst& Young will pay $11.8 million to settle charges over "failed audits" of oil services company Weatherford International PLC, the U.S. Securities and Exchange Commission said on Tuesday.

  • The SEC also reached deals with Joaquin Alberto Dos Santos Almeida, an ex-vice president of operations; Karan Raina, an ex-director of operations; Julianne Chandler, a former corporate controller; and James Smith, an ex-executive vice president. According to the SEC, while working in Lime's utilities division, Almeida and Raina began recognizing millions of...

  • The move crimps the number of SEC examiners monitoring brokerages, and to make sure FINRA is picking up the slack, the commission formed a group that assesses the Wall Street regulator's efforts at monitoring the sector, said Marc Wyatt, the head of the SEC's Office of Compliance Inspections and Examinations at a speech in Washington, D.C.. The group that will...

  • These rules from the Securities and Exchange Commission are aimed at safeguarding the sector, currently worth $2.7 trillion, from the sort of panicked withdrawals that followed the collapse of Lehman Brothers and contributed to the credit crunch that ensued during the financial crisis of 2008-09. Under the SEC rules, institutional prime funds and some...

  • Securities and Exchange Commission Chair Mary Jo White listens during a meeting at the Treasury Department in Washington.

    To have a member of Congress dictate the rulemaking agenda of the SEC is verboten, former SEC commissioner Laura Unger says.

  • She made the call in a 12- page letter to Obama, saying she was exasperated with the SEC's stalled work on a rule to require corporations to disclose money they contribute to political campaigns. She added that White was undermining Obama's priorities, failing to uphold the SEC's investor protection mission, and not carrying out mandates passed by Congress in...