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Securities and Exchange Commission News

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

3 hrs ago | ABS-CBN News

SEC approves Smartmatic-TIM venture

The Securities and Exchange Commission has approved the incorporation of Smartmatic TIM Corp.

Comment?

Related Topix: Corporate / Securities Law, Law, Computers

7 hrs ago | StarNewsOnline.com

A Stock With Bounce: Investors Stick to G.M.

Shares in "General Motors," the company says, are worthless. But many investors apparently have missed the message.

Comment?

Related Topix: Automakers, General Motors, Economics News, Bankruptcy, Corporate / Securities Law, Law

12 hrs ago | Kansas' CW

Cessna Cancels Columbus Citation

Cessna cancels its Citation Columbus business jet. The program would have brought more than 1,000 jobs to Wichita.

Comment?

Related Topix: Wichita Metro, Wichita, KS, Corporate / Securities Law, Law

16 hrs ago | The South Mississippi Sun Herald

Obama proposes investor protections in wake of Madoff scandal

Fresh on the heels of new proposals to regulate mortgages and other consumer credit products, the Obama administration on Friday sent Congress proposed legislation designed to head off another Bernard Madoff-style fraud.

Comment?

Related Topix: Home, Mortgage, Personal Finance, Corporate / Securities Law, Law, Bernie Madoff, Mutual Funds, Financial Markets

Fri Jul 10, 2009

MSNBC

U.S. seeks to police OTC derivatives

Treasury Secretary Timothy Geithner is set to propose on Friday giving securities and futures regulators authority to police the over-the-counter derivatives market, according to a document obtained by Reuters.

Comment?

Related Topix: Corporate / Securities Law, Law

WTOP

Lancelot Investment accused of aiding Ponzi scheme

Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme.

Comment?

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

Star Tribune

Ameriprise paying $17.3M to settle SEC case

Ameriprise Financial Services Inc. on Friday agreed to pay more than $17 million to settle federal regulators' charges that it failed to disclose nearly $31 million received for selling certain investments to its brokerage customers.

Comment?

Related Topix: Corporate / Securities Law, Law, Minneapolis Metro, REIT, Personal Finance

The Brownsville Herald

Sanctions against The GEO Group sought

An appellate court is weighing claims against The GEO Group, formerly known as Wackenhut Corrections Corp., to determine if the private prison business lied when it claimed to have been exonerated of any responsibility in the beating death of an inmate and if it should be sanctioned.

Comment?

Related Topix: Wackenhut, Security, Prison, Raymondville, TX, Corporate / Securities Law, Law

TELEPHONY Online

RCN withdraws bid for FiberNet

July 9, 2009 - " FiberNet Telecom Group, Inc. today announced that RCN Corporation withdrew its proposal to acquire FiberNet for $12.50 per share of FiberNet common stock.

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Related Topix: Telecom, IT Services, Fibernet Telecom Group, RCN, Computers, New York Metro, Corporate / Securities Law, Law

Thu Jul 09, 2009

Post and Courier

Feds sue ex-officer at UCI

COLUMBIA a ' Federal regulators this week sued a former executive of Columbia-based UCI Medical Affiliates, manager of Doctors Care medical clinics, over the embezzlement of $2.97 million.

Comment?

Related Topix: Corporate / Securities Law, Law

Hampton Roads Daily Press

Smithfield CEO's compensation drops

Smithfield Foods Inc. CEO C. Larry Pope received compensation valued at $1.8 million for fiscal 2009, 49 percent less than the year before, according to a Securities and Exchange Commission filing Thursday.

Comment?

Related Topix: Food, Smithfield Foods, Corporate / Securities Law, Law

WPMT-TV York

SEC expected to call for California IOUs to be regulated as securities

The recipients of billions of dollars in IOUs being issued by California soon may have a regulated market where they could sell them.

Comment?

Related Topix: Corporate / Securities Law, Law

New York Times

Six Employees of Sky Capital Are Accused in a $140 Million Fraud Scheme

Six employees of a Wall Street retail broker, Sky Capital, ran a $140 million "trans-Atlantic boiler room" to defraud investors in the United States and Britain, authorities charged Wednesday.

Comment?

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

Wall Street Folly

SEC charges Sky Capital CEO Ross Mandell and 5 others in multi million dollar boiler room scheme

Here's the press release detailing the SEC boiler room charges against Sky Capital CEO Ross Mandell, COO Stephen Shea and four registered reps: FOR IMMEDIATE RELEASE 2009-152 Washington, D.C., July 8, 2009 a ' The Securities and Exchange Commission today charged New York-based broker-dealer Sky Capital LLC and six individuals involved in a ...

Comment?

Related Topix: Corporate / Securities Law, Law, New York, US Travel, Travel, Brooklyn, NY, New York, NY, Financial Markets

Chicago Tribune

Head of SEC inspections office since 1995, Lori Richards leaving agency in August

The official who has headed a key division at the Securities and Exchange Commission since its creation in 1995 is leaving the agency.

Comment?

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

Wed Jul 08, 2009

The New Zealand Herald

Paris Hilton sued in fraud case

MIAMI a ' In an odd intersection of showbiz and securities fraud, proving a claim that Paris Hilton was a lousy pitchwoman would benefit investors jilted by a Ponzi scheme she had no part in.

Comment?

Related Topix: Paris Hilton, Theater, Arts, Corporate / Securities Law, Law

ZDNet

Did Jobs and Apple lie about reason for departure?

Corporations must make "material disclosures" to shareholders, information that, if known, would induce a shareholder to sell or buy shares.

Comment?

Related Topix: Computers, Apple Computer, Corporate / Securities Law, Law, Steve Jobs

TulsaWorld.com - Business

SEC alleges oil, gas Ponzi scheme

Federal regulators have frozen the assets of a Delaware company accused of swindling nearly 8,000 investors in a $485 million Ponzi scheme that falsely promised hefty returns on investments in the oil and gas business, officials said Tuesday.

Comment?

Related Topix: Corporate / Securities Law, Law

Tue Jul 07, 2009

The Herald

Shake-up of SEC vital in wake of Madoff scandal

The Obama administration needs to move quickly on a promised shake-up of the Securities and Exchange Commission after the US financial watchdog failed to spot the illegal activities of jailed fraudster Bernie Madoff - a scandal that has dented confidence in the investment industry.

Comment?

Related Topix: Corporate / Securities Law, Law, Prison, Bernie Madoff, US Politics, US News, Barack Obama

Bloomberg

Stanford Asks Judge for Access to Funds to Defend Against Criminal Charges

R. Allen Stanford , who the U.S. accuses of leading a $7 billion securities fraud, told a federal judge the criminal case against him should be thrown out if he doesna t get access to money to pay his lawyers.

Comment?

Related Topix: Criminal Defense Law, Law, Corporate / Securities Law, Financial Services, US News

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