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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: SEC

SEC stories: 180 news summaries

81 - 100 of 180 Stories | << Prev 1 2 3 4 5 6 7 8 9 Next >>

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Feds Give Green Light to Wells Fargo-Wachovia

Citigroup plans to sue over breach of contract, but will not interfere

Oct 10, 08 3:02 PM CDT
(AP) - Federal antitrust regulators cleared Wells Fargo's $11.7 billion acquisition of Wachovia Corp. today, capping a weeklong battle for the Charlotte, NC-based bank. The rapid approval comes a day after Citigroup walked away from its acquisition effort. Citigroup plans to seek $60 billion in damages for breach of contract but... More »

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Citigroup • mergers and acquisitions • Wachovia • antitrust • Wells Fargo • SEC • credit crisis • financial crisis

 Now Brace for Short-Sellers 

Wall Street steels for end of ban short-selling

Oct 8, 08 6:01 AM CDT
(Newser) - The controversial three-week ban on short-selling financial stocks ends at midnight tonight and analysts are uncertain about the impact on an already-traumatized Wall Street. Financial shares have plunged 23% since the ban was imposed, suggesting short-selling might not have played as large a role as suspected in earlier declines, reports... More »

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NASDAQ • General Motors • MIT • General Electric • SEC • short selling • financial stocks • hedge funds • CVS Caremark

 SEC Relaxes 
 'Fire Sale' 
 Assets Rule 

Aims to ease pressure by freeing assets from free-market value

Oct 1, 08 3:23 AM CDT
(Newser) - The SEC is relaxing enforcement of a controversial rule in a bid to ease pressure on banks during the financial crisis, the New York Times reports. Current accounting rules require companies to value assets at a fluctuating fair market price. In the current financial chaos, values are rapidly heading south,... More »

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SEC • accounting • JPMorgan Chase • banks • financial crisis • Wall Street bailout • American Bankers Association

ANALYSIS

SEC Chair Cox Fiddled as US Markets Burned

'Exceedingly cautious' approach had Paulson looking to kill agency

Sep 22, 08 3:22 PM CDT
(Newser) - With US markets in upheaval, the head of the watchdog Securities and Exchange Commission was preoccupied with a new technology for corporate filing, Bloomberg reports. Christopher Cox’s inaction has provoked bipartisan criticism: McCain adviser Carly Fiorina said he has been “asleep at the switch,” while Democratic Sen.... More »

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Ben Bernanke • Federal Reserve • Henry Paulson • SEC • Christopher Cox • regulation • SEC commissioners • bank regulation

Candidates Talk Leadership, Race, on 60 Minutes

Mac goes bipartisan, Obama talks leadership, plays down race

Sep 22, 08 2:20 AM CDT
(Newser) - John McCain tried to strike a bipartisan tone during his 60 Minutes interview last night, and Barack Obama played down the race issue while highlighting his leadership experience. Both presidential candidates sat for prime-time interviews on the show, during which McCain floated the name of prominent Democrat Andrew Cuomo to... More »

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Barack Obama • John McCain • SEC • Andrew Cuomo • 60 Minutes • Iraq mess • television interview

Wall Street's New Rules Worry Traders

Temporary ban on short-selling causes fundamental shifts

Sep 20, 08 11:22 AM CDT
(Newser) - Stocks roared back to life yesterday on the government’s actions to stabilize the markets, but many traders expressed uncertainty about the new rules of the game, the New York Times reports. The temporary ban on short selling and the new requirement to disclose such trades have wreaked havoc with... More »

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stock market • Wall Street • SEC • short selling • financial stocks

ANALYSIS

Short Sellers Vilified But Vindicated

They may be vultures, but it's not their fault banks are in trouble

Sep 19, 08 3:36 PM CDT
(Newser) - In a memo to Morgan Stanley employees, CEO John Mack fumed that the investment bank was being attacked "by fear and rumors, and short sellers are driving our stock down." Today, following similar action in the UK, the SEC banned short selling of 799 financial companies to stem... More »

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Morgan Stanley • John Mack • SEC • Lehman Brothers • AIG • short selling • Financial Services Authority

(Newser) - Stocks surged this morning, with the Dow shooting up more than 400 points within minutes of the open, and steadying just under that, as investors celebrated new rules clamping down on short selling and the government’s hotly anticipated plan to buy bad debt from banks. The S&P and... More »

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stock market • SEC • capital markets • financial crisis

McCain Wants SEC Chief Out; Obama Says It's Not Enough

Candidates at odds over blame for market meltdown; Dem faults all Bush cronies

Sep 18, 08 5:25 PM CDT
(Newser) - John McCain said today he would fire the head of the Securities and Exchange Commission and blasted federal regulators for being “asleep at the switch,” Bloomberg reports. McCain, who's lost ground in the polls during the recent economic turmoil, said the SEC “kept in place trading rules... More »

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John McCain • SEC • Obama 2008 • Christopher Cox • credit crisis • McCain 2008 • Election 2008

ANALYSIS

Cox Has Neutered SEC's Watchdog Role

Critics say agency has gotten soft, especially against big business

Sep 17, 08 4:37 PM CDT
(Newser) - Under chairman Christopher Cox, the US Securities and Exchange Commission has drastically reduced the power of its enforcement division, Portfolio reports. Cox was brought in to “chill it out” after his predecessor was perhaps too zealous for White House tastes. Congress chided Cox for essentially turning down more funding,... More »

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Bush administration • Wall Street • fraud • law enforcement • SEC • Christopher Cox • Paul Atkins

BofA Could Partner With China Fund on Lehman Bid

Bankruptcy remains possibility for firm

Sep 12, 08 12:17 PM CDT
(Newser) - Bank of America could partner with financial investor JC Flowers and a Chinese sovereign wealth fund on a bid to rescue Lehman Brothers, the Financial Times reports. The hobbled investment bank had resisted selling itself, but is now eagerly seeking suitors before the last of its goodwill on Wall Street... More »

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private equity • Wall Street • Bank of America • Henry Paulson • shareholders • Bear Stearns • SEC • Lehman Brothers • JC Flowers and Co • China Investment Corp

SEC Looking Into United Airlines Stock Glitch

Stock slid hard on bad, old info picked up by automated Google news service

Sep 11, 08 5:40 PM CDT
(Newser) - The Securities and Exchange Commission is looking into the recent, but temporary, nosedive in United Airlines stock spurred by the republication of a 6-year-old article about the company’s bankruptcy, the Wall Street Journal reports. The agency has begun a preliminary investigation to see whether any shady behavior was... More »

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stock market • Internet • Tribune Company • news • United Airlines • SEC • Google News

Investors, Companies Benefit by Accounting Switch: SEC

Move to international standard will require 'massive effort,' US firms say

Aug 28, 08 9:50 AM CDT
(Newser) - The Securities and Exchange Commission sees a smoother ride for American companies, and investors, in its plan for the US to adopt international accounting standards, the Wall Street Journal reports—though the shift would be an expensive, “massive effort,” some say, requiring new training from business schools on... More »

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SEC • accounting • corporate earnings • Financial Accounting Standards Board • International Financial Reporting Standards

SEC Wants US Firms to Switch to International Accounting

Multinationals would change first under plan

Aug 27, 08 4:42 PM CDT
(Newser) - The Securities and Exchange Commission is planning to require US companies to switch to international accounting rules, the Wall Street Journal reports. The body voted today to seek public comment on a plan for the transition, which would stagger requirements. Large multinational firms would be expected to voluntarily switch in... More »

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globalization • business • SEC • accounting • corporations • Christopher Cox • regulation • multinationalism

 3 More Wall Street Firms Agree to Buy Back Securities

Settlement reached after auction-rate securities market collapse

Aug 22, 08 2:23 AM CDT
(Newser) - Merrill Lynch, Goldman Sachs and Deutsche Bank have agreed to a settlement with New York's attorney general and other state regulators to buy back $14.5 billion of now worthless auction-rate securities. The brokerages will also pay $162 million in fines to settle charges that they misled investors into thinking... More »

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Citigroup • Goldman Sachs • Wachovia • Morgan Stanley • Deutsche Bank • UBS • Merrill Lynch • SEC • Andrew Cuomo • John Thain • auction-rate securities • JPMorgan Chase

Citigroup Will Buy Back $7B of Bad Debt, Pay $100M Fine

Deal with SEC, NY state seen as 'face-saving,' could mean more ahead

Aug 7, 08 2:12 PM CDT
(Newser) - Citigroup has agreed to buy back $7 billion in risky debt it marketed to consumers as safe and equivalent to cash, Reuters reports. Today’s deal, struck with New York's attorney general and the SEC, also requires the bank to pay fines totaling $100 million, and reimburse customers who took... More »

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Citigroup • debt • SEC • Andrew Cuomo • New York Attorney General • fines • auction-rate securities

Invisible Ink, Hidden Numbers Help Fuzzy Accounting

SEC complaint shows CFO used printouts to fool auditors

Jul 23, 08 5:59 PM CDT
(Newser) - Sometimes high-stakes fraud doesn’t have to be high-tech. The former chief financial officer at a company now called Voyager Learning allegedly cooked the company's books by entering figures as white text on white background—the equivalent of invisible ink, Adam Jones notes in a Financial Times blog. More »

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fraud • earnings reports • SEC • accounting • revenue • Microsoft Excel

ANALYSIS

Demonizing Shorters Won't Save the Likes of Lehman

Darwinian market bloodletting may eliminate raider targets

Jul 19, 08 9:34 AM CDT
(Newser) - Short-sellers have the power to utterly crush Lehman Brothers, as they did Bear Stearns, writes James Cramer in New York, but it's largely Lehman's own fault. Lehman shares much of the "mismanagement, arrogance and recklessness" that brought down Bear, Cramer opines in a piece that says excoriating short-selling hedge... More »

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Bear Stearns • SEC • financial markets • hedge fund • Lehman Brothers • short selling • financial crisis

SEC Will Limit
Short Sales of
Finance Stocks

Agency worried negative bets by traders are hurting the market

Jul 16, 08 9:48 AM CDT
(Newser) - The SEC will step in to police naked short-selling of 17 financial firms, as well as Fannie Mae and Freddie Mac, the Wall Street Journal reports. The agency said it plans to impose short-term, emergency rules on Monday that curtail traders betting on the stocks to drop, worried the short... More »

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stock market • Wall Street • SEC • Christopher Cox • short selling • financial crisis

SEC Aims to Check False Rumors on Wall Street

Feds worried about false info in skittish market, but nailing culprits is tough task

Jul 14, 08 9:15 AM CDT
(Newser) - After months of urging from business, the Securities and Exchange Commission announced plans yesterday to clamp down on the rumor mill that can induce Wall Street gyrations with false information. Last week's market turbulence pushed the feds to make the move before this week's trading, the New York Times reports—... More »

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Wall Street • investigation • Bear Stearns • SEC • Lehman Brothers • rumor • securities fraud

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