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Securities and Exchange Commission News

News on Securities and Exchange Commission continually updated from thousands of sources around the net.

12 hrs ago | Investopedia

The Uptick Rule Debate

There has been a lot of discussion about the uptick rule and whether it should be a part of the financial markets. First instituted by the Securities and Exchange Commission in 1938 as Rule 10a-1, the uptick rule prevents securities from being consecutively short sold without the stock trading higher at least once between short selling orders.

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Related Topix: Corporate / Securities Law, Law, Financial Markets, Home, Mortgage, Personal Finance

Sat Sep 13, 2014

KDWN

HSBC paying $550M to resolve mortgage bond claims

British bank HSBC has agreed to pay $550 million to resolve U.S. claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007. The Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the settlement Friday with HSBC.

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Related Topix: Home, Mortgage, Personal Finance, Financial Services, Fannie Mae, Goldman Sachs, Investment Services, Corporate / Securities Law, Law

Truthdig

Shareholders' Quest for More Transparency

If you own a share of a company, how much information about the company are you entitled to? That is the question embedded in the debate over a proposed Securities and Exchange Commission rule that would force publicly traded companies to disclose their political spending to their shareholders. As of this month, a 2011 petition to the SEC proposing the rule has received more than 1 million comments - most of them in favor of the mandate.

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Related Topix: Corporate / Securities Law, Law, US News, Liberal Political News

China Daily

Alibaba roadshow bodes well for record-breaking IPO

Investors' fever toward the Alibaba Group during its roa ds how and all the hype surrounding the Chinese e-commerce behemoth are boding well for its record-breaking initial public offering in the US market next week. "We believe that Alibaba will be a successful IPO.

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Related Topix: Alibaba, Internet, World News, Science / Technology, China, Asia, Corporate / Securities Law, US Securities and Exchange Commission, Law, Financial Services

Investor's Business Daily

WhiteWave Foods Announces Pricing of $500 million of 5.375% Senior...

The WhiteWave Foods Company announced today the pricing of $500 million in aggregate principal amount of 5.375% senior notes due 2022, through underwriters led by J.P. Morgan Securities LLC. The offering is being conducted pursuant to a registration statement and related preliminary prospectus supplement filed with the Securities and Exchange Commission. The notes mature on October 1, 2022.

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Related Topix: Corporate / Securities Law, Law

NewsTalk 1530 KFBK

Hewlett-Packard Pleads Guilty to Bribery

Hewlett-Packard has pleaded guilty to felony charges that former employees bribed Russian government officials for a contract, and the company has been fined $58.7 million. The Securities and Exchange Commission says HP's Russian subsidiary admitted violating the Foreign Corrupt Practices Act in a Northern California court Thursday.

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Related Topix: Hewlett Packard, HP, Hewlett-Packard, Computers, Corporate / Securities Law, Law

Fri Sep 12, 2014

Wall Street Journal

To Be Clear, SEC Reviewers Want Filings in Plain English, Period

The Securities and Exchange Commission headquarters in Washington, where lawyers and accountants review several thousand of the more than half-million documents that companies file with the agency every year. After combing through a 19,974-word filing for a securities offering, Securities and Exchange Commission senior counsel Catherine Gordon had some guidance for the company that drafted it.

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Related Topix: Corporate / Securities Law, Law

Business Journal

A sticky situation for some publicly traded marijuana companies

Cannabis-related firms, including Seattle-based GrowLife, have been caught up in alleged stock-manipulation schemes. GrowLife has responded by trying to be as transparent as possible.

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Related Topix: Corporate / Securities Law, Law, Financial Markets

jdsupra.com

SEC Increases Focus on Accounting and Financial Fraud at Public Companies

"I would describe the time period we are living through as an era of creative and aggressive enforcement by the US Securities and Exchange Commission ," said Latham & Watkins partner John Sikora. "The SEC has set a completely different tone with their 'broken windows' strategy, a tougher approach to sanctions and who they charge."

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Related Topix: Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services, Latham & Watkins, Latham and Watkins

JD Supra

CFTC Publishes Long-Awaited JOBS Act Relief

The staff of the Commodity Futures Trading Commission published a no-action letter on September 9, 2014 that permits certain commodity pool operators to conduct general solicitation in private offerings of pool interests under the Rule 506 regime or amended Rule 144A under the Securities Act of 1933, as adopted by the Securities and Exchange Commission pursuant to the Jumpstart Our Business Startups Act.

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Related Topix: Corporate / Securities Law, Law

JD Supra

Dodd-Frank Splits Courts on Granting Whistleblower Protections

As more claimants take advantage of the U.S. Securities and Exchange Commission's whistleblower program created under the Dodd-Frank Act of 2010, courts have increasingly been called upon to decipher the law's provisions protecting claimants from retaliation. In particular, the issue of whether Dodd-Frank requires an informant to make a complaint directly to the SEC in order to qualify as a whistleblower - and thus be protected from retaliation - has become more divisive and could eventually be left to the U.S. Supreme Court to decide.

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Related Topix: Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services, US News, US Supreme Court, Employment / Labor Law, Corporate Governance

jdsupra.com

The SEC Gets Serious About Late Beneficial Ownership Reporting

On September 10, 2014, the Securities and Exchange Commission announced charges against 28 directors, officers and significant shareholders of public companies for repeated failures to timely report their share ownership and transactions on Form 4, Schedule 13D and Schedule 13G. The SEC also announced charges against 6 public companies for contributing to these failures by voluntarily agreeing to assist insiders with their filings, but failing to do so on a timely basis, and by failing to report insiders' late filings in their periodic reports.

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Related Topix: Corporate / Securities Law, Law

AmericanBankingNews.com

Insider Buying: DelMar Pharmaceuticals Director Purchases 7,000 Shares of Stock

DelMar Pharmaceuticals Director John K. Bell acquired 7,000 shares of DelMar Pharmaceuticals stock on the open market in a transaction that occurred on Monday, September 8th. The shares were purchased at an average cost of $0.71 per share, for a total transaction of $4,970.00.

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Related Topix: Corporate / Securities Law, Law

Business Journal

Two companies founded by same engineer in legal battle over patent

Cesca Therapeutics filed a federal patent-infringement lawsuit against SynGen. The suit alleges that Cesca founder Philip Coehlo brought confidential information with him from Cesca to SynGen.

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Related Topix: Corporate / Securities Law, Law, Scientific Instruments, THERMOGENESIS, Medicine, Medical Equipment, Healthcare Industry

Thu Sep 11, 2014

JD Supra

SEC Money Market Reform: An Analysis of Fund Director Responsibilities

In July 2014, the Securities and Exchange Commission adopted long-awaited rule amendments to regulations that govern money market funds . The Rules are designed to lessen money market funds' susceptibility to heavy redemptions, improve the ability of money market funds to manage and mitigate potential contagion from high levels of redemptions and increase the transparency of risks associated with these funds.

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Related Topix: Corporate / Securities Law, Law

Business Wire

KMG Announces Settlement with U.S. Securities and Exchange Commission

KMG's settlement was part of an enforcement action undertaken by the SEC against numerous officers, directors, and public companies. KMG agreed to pay a civil penalty of $150,000, which the Company has already accrued for, and has taken appropriate steps to ensure ongoing compliance with filing deadlines.

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Related Topix: KMG Chemicals, Chemicals, Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services

WBOC-TV Salisbury

Wilmington Trust Pays $18.5M to Settle SEC Charges

Federal regulators say Wilmington Trust has agreed to pay $18.5 million to settle charges of accounting and disclosure fraud regarding its loan portfolio. The Securities and Exchange Commission said Thursday that Wilmington Trust, which was on the brink of collapse when it was hastily acquired by M&T Bank in 2011, failed to report the true volume of loans at least 90 days past due in 2009 and 2010.

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Related Topix: Corporate / Securities Law, Law

CFO

Wilmington Trust Concealed Problem Construction Loans: SEC

Wilmington Trust Company has agreed to pay $18.5 million to settle U.S. Securities and Exchange Commission charges of accounting and disclosure fraud for hiding mounting problems in its commercial real estate portfolio. In announcing the settlement Thursday, the SEC said that instead of fully and accurately disclosing the volume of construction loans at least 90 days past due, Wilmington Trust "improperly excluded the matured loans from its public financial reporting."

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Related Topix: Wilmington Trust, Corporate / Securities Law, Banking, Law, Financial Services, US Securities and Exchange Commission, Corporate Governance

Crooks and Liars

Five Reasons The SEC's Executive-Pay Rules Matter - And Five Ways To Use Them

Executive compensation plays a large role in this rupture between what people earn and the rate at which the overall economy is becoming more productive. Two little-known rules on corporate reporting of executive pay are currently being reviewed by the Securities and Exchange Commission.

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Related Topix: Corporate / Securities Law, US News, Liberal Political News

Business Journal

Former BioFuel Energy chairman settles with SEC over trades

Thomas J. Edelman , a major investor in and former chairman of Denver's BioFuel Energy Corp. , will pay a $64,125 fine to settle a civil action filed against him by the Securities and Exchange Commission . Edelman and investors in other companies were targeted by the SEC for failing to promptly report information about their stock holdings and dealings, in violation of federal securities laws.

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Related Topix: Corporate / Securities Law, Law

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