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Securities and Exchange Commission News

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

2 hrs ago | Reuters

SEC seeks $1.4 billion from Texas Wyly brothers after fraud verdict

Texas tycoon Sam Wyly and the estate of his late brother Charles should pay damages totaling $1.41 billion for their role in a scheme that hid trades in companies they controlled using offshore trusts, the U.S. Securities and Exchange Commission said.

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Related Topix: Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services, Michaels Stores, Retail

4 hrs ago | Reuters

U.S. SEC appeals crisis-era case against ex-bank executives

U.S. government lawyers asked federal regulators on Friday to overturn a judge's ruling dismissing their case against two former State Street Corp executives accused of misleading investors in a fund exposed to subprime mortgages.

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Related Topix: Corporate / Securities Law, Law, State Street, Financial Services, Investment Services, Home, Mortgage, Personal Finance

8 hrs ago | Christian Science Monitor

Mutual funds face new SEC regulations, falling assets

The Securities and Exchange Commission headquarters in Washington. Regulators voted Wednesday July 23, 2014 to end a longtime staple of the investment industry _ the fixed $1 share price for money-market mutual funds _ at least for some money funds used by big investors.

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Related Topix: Mutual Funds, Personal Finance, Corporate / Securities Law, Law

12 hrs ago | Holtville Tribune

Four Charged in NFL-Related Securities Fraud Scheme Targeting Senior Citizens

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation , Miami Field Office, announced that Peter D. Kirschner, 49, of Delray Beach, Stuart R. Rubens, 61, of North Miami, Dean R. Baker, 34, of Coral Springs, and Bret A. Grove, 35, of Delray Beach, ... (more)

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Related Topix: Family, Elderly (Senior Citizen), Florida, US News, US Federal Bureau of Investigation, Corporate / Securities Law, Law

Fri Jul 25, 2014

Fox News

Citi Unit Pays Record Fine to Settle SEC Charges

A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect its clients' confidential trading data, U.S. regulators said Friday.

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Related Topix: Corporate / Securities Law, Law, Business News

ComputerWorld

SEC drops probe into Facebook's pre-IPO sales disclosures

The U.S. Securities and Exchange Commission has dropped its investigation into disclosures about Facebook advertising sales before the company went public in 2012.

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Related Topix: Social Software, Startups, Facebook, Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services

Reuters

Facebook says SEC's IPO probe ends, extending WhatsApp closing date

Facebook Inc said the U.S. Securities and Exchange Commission dropped its probe into the social networking company over events surrounding its controversial initial public offering.

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Related Topix: Startups, Facebook, Social Software, Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services

Reuters

UPDATE 2-Citigroup unit to pay $5 million to settle U.S. SEC charges

A private trading venue owned by Citigroup will pay a $5 million penalty to settle charges that it failed to protect customers' data, marking the latest case in a crackdown by U.S. regulators over alleged market rule violations.

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Related Topix: Corporate / Securities Law, Law, Banking, Financial Services, CitiMortgage, Citigroup

Reuters

Citigroup unit pays record penalty to settle SEC charges

A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect its clients' confidential trading data, U.S. regulators said Friday.

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Related Topix: Corporate / Securities Law, Law

WTHR-TV Indianapolis

Morgan Stanley paying $275M to settle SEC charges

Virginia State Police say two were killed and at least 20 injured when a fierce storm slammed a campground on the state's Eastern Shore.

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Related Topix: Stanley, Corporate / Securities Law, Law, Weather, Toddlers, Family

Law.com

A Close Look at JPMorgan Chase GC's Stock Moves

After battling a raft of corporate legal problems, JPMorgan Chase & Co. general counsel Stephen Cutler has been selling off stock in his company while piling up stock options and other incentives.

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

Thu Jul 24, 2014

The Miami Herald

SEC files charges against two South Florida men allegedly involved in a boiler room scheme

The Securities and Exchange Commission on Thursday announced a second round of charges against individuals, including two people from South Florida, who were allegedly behind a boiler room scheme.

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Related Topix: Corporate / Securities Law, Law

Federal Bureau of Investigation

New York: Executive pleads guilty to role in $3 million securities fraud scheme.

Yesterday, Cecil Franklin Speight, also known as Frank Speight, pleaded guilty to conspiracy to commit mail fraud and securities fraud for engaging in a conspiracy to steal over three million dollars from investors.

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Related Topix: Prison, Corporate / Securities Law, Law, Criminal Defense Law, US News, US Federal Bureau of Investigation

Business Journal

Sarepta terminates chief science officer as it heads toward drug approval

Arthur Krieg was hired to the company just six months ago as senior vice president and chief scientific officer.

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Related Topix: Corporate / Securities Law, Law

Fox News

Morgan Stanley to Pay $275M Over Subprime Securities

Morgan Stanley has agreed to pay $275 million to settle allegations of fraud related to mortgage-backed securities the firm packaged and sold ahead of the financial crisis.

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Related Topix: Stanley, Home, Mortgage, Personal Finance, Corporate / Securities Law, Law, Business News

News Times

SEC bars Darien man from industry

A Darien man who worked as an investment adviser without the proper registration has been barred from the securities industry for 10 years, according to a U.S. Securities and Exchange Commission order issued Wednesday.

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Related Topix: Darien, CT, Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services

Business Wire

Press release distribution, EDGAR filing, XBRL, regulatory filings

The report is available at 'www.fitchratings.com'. Additional information is available at 'www.fitc... )--McDermott International, Inc. announced today that it plans to issue a press release regarding its financial results for the sec... rEVO Biologics, Inc. Announces Enrollment of First Patient in Phase 3 Trial of ATryn to Treat Early Onset ... (more)

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Related Topix: Swisscom AG, Telecom, Cash America International, Financial Services, Cardiovascular Systems, Healthcare Industry, Banking, Bank of Nova Scotia The, American Water Works Company, Water Utilities, Corporate / Securities Law, Law

Wed Jul 23, 2014

Reuters

Republican lawmaker to grill U.S. SEC over Ackman tactics

A U.S. lawmaker will pressure the U.S. Securities and Exchange Commission on Thursday to consider a raft of reforms, after William Ackman's aggressive efforts to take over Allergan Inc raised concerns about loose rules governing disclosure and shareholder voting.

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Related Topix: Corporate / Securities Law, Law, US Politics, US News, Edward Royce, Republican, US House of Representatives, US Securities and Exchange Commission, Financial Services, Allergan, Biotech

Reuters

Standard & Poor's may face SEC charges over ratings

The parent of Standard & Poor's, which is defending against a $5 billion lawsuit by the federal government over its credit ratings, said on Wednesday it may soon also face U.S. Securities and Exchange Commission charges over another set of ratings.

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Related Topix: Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services, Home, Mortgage, Personal Finance

Brandon Sun

S&P says regulators considering action against it over mortgage securities ratings in 2011

Standard & Poor's says regulators have told the rating agency they are considering taking civil enforcement action against it over ratings it gave to six deals in 2011 involving securities tied to commercial mortgages.

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Related Topix: Corporate / Securities Law, Law

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