TheRepublic.com - U.S. Securities and Exchange Commission News

Bill clears House for wider SEC economic analyses

Fri, 17 May 2013 16:37:54 -0400

WASHINGTON - Legislation cleared the House on Friday that would place stricter requirements on the federal agency overseeing Wall Street to assess the costs and benefits of its regulations before they are issued.

Hedge fund manager Falcone to settle fraud case

Thu, 09 May 2013 19:57:10 -0400

WASHINGTON - Billionaire hedge fund manager Philip Falcone and his firm have agreed to pay $18 million to settle civil fraud charges that he used fund money to pay his taxes and favored some clients over others.

SD broker faces federal wire fraud charges

Thu, 09 May 2013 15:13:11 -0400

SIOUX FALLS, South Dakota - A Sioux Falls broker who already has been sued by former investors and the Securities and Exchange Commission now faces felony wire fraud charges in federal court.

Venezuelan bank official charged in NY bribe case

Tue, 07 May 2013 19:59:25 -0400

NEW YORK - A senior Venezuelan banking official is being held in Miami on charges that she accepted at least $5 million in bribes to funnel business to two Miami broker-dealers, federal authorities in Manhattan announced Tuesday.

SEC chief to review 'no admit or deny' policy

Tue, 07 May 2013 17:46:42 -0400

WASHINGTON - The new chairman of the Securities and Exchange Commission says she will review the agency's policy of letting companies and individuals settle charges without admitting or denying wrongdoing.

SEC says Harrisburg, Pa., misled bond investors

Mon, 06 May 2013 16:51:08 -0400

HARRISBURG, Pennsylvania - Pennsylvania's debt-laden capital city violated federal antifraud rules for securities issuers by repeatedly giving misleading information that created risks for bond investors at a time the city's finances were rapidly deteriorating, the U.S. Securities and Exchange Commission said Monday.

SEC files civil charges against Victorville

Mon, 29 Apr 2013 17:36:01 -0400

VICTORVILLE, California - The U.S. Securities and Exchange Commission filed civil charges Monday against the city of Victorville, a city official and a local agency accusing them of misleading investors by inflating property values so they could issue municipal bonds five years ago.

Level Global paying $21.5M in SEC settlement

Mon, 29 Apr 2013 16:33:27 -0400

WASHINGTON - Level Global Investors, a hedge fund with a co-founder convicted of criminal insider trading, will pay $21.5 million to settle related civil charges.

How a phony tweet and computer trades sank stocks

Wed, 24 Apr 2013 20:14:49 -0400

NEW YORK - For a few surreal minutes, a mere 12 words on Twitter caused the world's mightiest stock market to tremble.

Capital One paying $3.5M to settle SEC charges

Wed, 24 Apr 2013 17:48:28 -0400

WASHINGTON - Capital One Financial Corp. is paying $3.5 million to settle federal civil charges of underreporting as much as $123 million in losses on auto loans in the months preceding the financial crisis.

Best Buy CEO makes $19.6M in difficult year

Wed, 24 Apr 2013 16:47:54 -0400

NEW YORK - The CEO of Best Buy, turnaround expert Hubert Joly, earned compensation worth $19.6 million in his five months on the job in 2012.

Argentina tells SEC it wants proof in bribery case

Tue, 23 Apr 2013 14:44:16 -0400

BUENOS AIRES, Argentina - Argentina wants the U.S. Securities and Exchange Commission to name names and provide proof that Ralph Lauren Corp. bribed customs officials for years to allow its products into the South American country.

Wal-Mart's CEO paid $20.7 million in 2012

Mon, 22 Apr 2013 20:01:20 -0400

NEW YORK - Wal-Mart Stores Inc. gave its CEO Mike Duke a pay package in 2012 worth $20.7 million, a 14 percent increase from the year before, according to an Associated Press analysis of a regulatory filing Monday.

Lauren settles Argentine bribery case for $1.6M

Mon, 22 Apr 2013 13:21:23 -0400

ALBANY, New York - Ralph Lauren Corp. settled U.S. Justice Department and Securities and Exchange Commission allegations that bribes were paid to Argentine import officials, agreeing to give up more than $700,000 of illicit profits and pay an $882,000 penalty, federal authorities said Monday.