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Robert Khuzami

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BUSINESS
February 7, 2010 | Kathy M. Kristof, Personal Finance
When it comes to securities fraud, 2009 was either the best of times or the worst. Both arguments are made in the statistics. Last year, the Securities and Exchange Commission, the nation's top investment regulator: Sought 71 temporary restraining orders to halt misconduct and prevent further harm to investors. That was up 82% from 2008. Doubled the number of formal investigations of securities violations. Ordered wrongdoers to disgorge some $2.1 billion in ill-gotten gains, up 170% from the previous year.
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BUSINESS
January 9, 2013 | By Andrew Tangel
Robert Khuzami, who revamped the Securities and Exchange Commission's enforcement division after the agency failed to stop Bernard Madoff's Ponzi scheme, is stepping down. Khuzami, a former federal prosecutor and general counsel for Deutsche Bank, becomes the latest senior SEC official to leave as President Obama's second term gets underway. Mary Schapiro stepped down as chairman of the agency in mid-December. The SEC lost two other major figures last month: Robert Cook, who was head of the SEC's division of trading and markets; and Meredith Cross, who was director of the agency's division of corporation finance.
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BUSINESS
April 30, 2009 | TIMES WIRE REPORTS
Robert Khuzami, the Securities and Exchange Commission's new enforcement chief, said he was considering a reorganization of his division that may be its biggest overhaul since the 1970s. Khuzami, who joined the SEC in March, may change his unit's management structure, possibly creating teams of specialist investigators, he said. No decisions have been made, he said.
BUSINESS
November 26, 2012 | By Jim Puzzanghera and Andrew Tangel, Los Angeles Times
WASHINGTON - Mary L. Schapiro's departure as head of the Securities and Exchange Commission will leave the agency - at least temporarily - deadlocked as it continues to try to enact tough reforms on Wall Street. Schapiro, 57, said Monday that she will resign effective Dec. 14. President Obama quickly designated SEC Commissioner Elisse B. Walter as the agency's new chairwoman. Walter is not expected to radically change the regulator's agenda. But her move will leave the five-member SEC commission one person short - and effectively deadlocked on controversial issues such as Dodd-Frank financial reform, new regulations for money market mutual funds and a push to rein in high-speed trading.
NEWS
July 19, 2012 | By Stuart Pfeifer
A veteran Securities and Exchange Commission attorney has been named director of the agency's Los Angeles regional office. Michele Wein Layne will oversee a staff of more than 120 employees who enforce securities laws in Southern California, Arizona, Nevada, Hawaii and Guam. Layne, 53, had been associate regional director of the SEC's Los Angeles office since 2005. She began her SEC career 17 years ago, working her way from staff attorney to the head of the busy Los Angeles office.
BUSINESS
January 9, 2013 | By Andrew Tangel
Robert Khuzami, who revamped the Securities and Exchange Commission's enforcement division after the agency failed to stop Bernard Madoff's Ponzi scheme, is stepping down. Khuzami, a former federal prosecutor and general counsel for Deutsche Bank, becomes the latest senior SEC official to leave as President Obama's second term gets underway. Mary Schapiro stepped down as chairman of the agency in mid-December. The SEC lost two other major figures last month: Robert Cook, who was head of the SEC's division of trading and markets; and Meredith Cross, who was director of the agency's division of corporation finance.
BUSINESS
November 16, 2012 | By Andrew Tangel
Two major Wall Street banks have agreed to pay more than $400 million to settle cases brought by the U.S. Securities and Exchange Commission in connection with residential mortgage-backed securities. JPMorgan Chase & Co. agreed to pay $297 million while Credit Suisse agreed to pay $120 million to settle the SEC's claims, which the agency announced Friday. The SEC's cases stem from allegations that the banks misled investors. The SEC claims JPMorgan misstated the delinquency status of the underlying residential mortgages bundled into its residential mortgage-backed securities (RMBS)
BUSINESS
May 27, 2011 | By Nathaniel Popper, Los Angeles Times
A former Nasdaq executive has pleaded guilty to securities fraud for using insider information that, regulators allege, helped him net $755,000 trading stocks on the exchange. Donald Johnson admitted Thursday in a federal court in Virginia that he made trades on eight separate occasions from 2006 to 2009 using information he was given as part of his work for Nasdaq's market-intelligence unit in New York. "This case is the insider trading version of the fox guarding the henhouse," Robert Khuzami, the director of enforcement at the Securities and Exchange Commission, said in a statement.
BUSINESS
October 20, 2011 | By Nathaniel Popper, Los Angeles Times
Citigroup Inc. is paying nearly $300 million to settle a civil fraud complaint that the banking giant promoted an investment tied to the housing market, yet failed to tell investors it was betting those securities would fail. The Securities and Exchange Commission alleges that Citigroup packed the $1-billion investment with assets that eventually buckled during the mortgage meltdown. Citigroup traders bet against the security, or shorted it, making money at the expense of its clients, the complaint says.
NEWS
July 15, 2010 | By James Oliphant and Tom Petruno
WASHINGTON -- The government on Thursday settled its sweeping civil fraud case against Goldman Sachs & Co., the Wall Street banking giant that came to exemplify the financial-market meltdown that helped plunge the country into the worst recession in a generation. Under the terms of the agreement, Goldman will pay $550 million, the largest fine ever imposed on a Wall Street firm. In April, the Securities and Exchange Commission accused Goldman of, in a sense, simultaneously betting both on the viability of the soaring housing market and on its collapse.
BUSINESS
November 17, 2012 | By Andrew Tangel and E. Scott Reckard, Los Angeles Times
JPMorgan Chase & Co. and Credit Suisse agreed to pay $417 million to settle the latest cases brought in the federal government's efforts to punish Wall Street firms for the financial crisis. The cases stem from alleged misstatements and failures to disclose that borrowers had defaulted on subprime home loans bundled into residential mortgage-backed securities, or RMBS. The faulty mortgage investments fueled the housing bubble before it burst in 2007. The settlements, announced Friday, came four years after the mortgage meltdown pushed the investment bank Lehman Bros.
BUSINESS
November 16, 2012 | By Andrew Tangel
Two major Wall Street banks have agreed to pay more than $400 million to settle cases brought by the U.S. Securities and Exchange Commission in connection with residential mortgage-backed securities. JPMorgan Chase & Co. agreed to pay $297 million while Credit Suisse agreed to pay $120 million to settle the SEC's claims, which the agency announced Friday. The SEC's cases stem from allegations that the banks misled investors. The SEC claims JPMorgan misstated the delinquency status of the underlying residential mortgages bundled into its residential mortgage-backed securities (RMBS)
NEWS
July 19, 2012 | By Stuart Pfeifer
A veteran Securities and Exchange Commission attorney has been named director of the agency's Los Angeles regional office. Michele Wein Layne will oversee a staff of more than 120 employees who enforce securities laws in Southern California, Arizona, Nevada, Hawaii and Guam. Layne, 53, had been associate regional director of the SEC's Los Angeles office since 2005. She began her SEC career 17 years ago, working her way from staff attorney to the head of the busy Los Angeles office.
BUSINESS
November 29, 2011 | By Nathaniel Popper, Los Angeles Times
A federal judge in New York issued a stern challenge to the government's recent history of imposing "relatively modest" punishments on big Wall Street banks for wrongdoing during the financial crisis. Jed Rakoff, a federal judge in Manhattan, issued a sharply worded order Monday rejecting a proposed $285-million settlement between the Securities and Exchange Commission and Citigroup Inc. that would have allowed the bank to avoid admitting it defrauded investors over toxic mortgage securities.
BUSINESS
October 20, 2011 | By Nathaniel Popper, Los Angeles Times
Citigroup Inc. is paying nearly $300 million to settle a civil fraud complaint that the banking giant promoted an investment tied to the housing market, yet failed to tell investors it was betting those securities would fail. The Securities and Exchange Commission alleges that Citigroup packed the $1-billion investment with assets that eventually buckled during the mortgage meltdown. Citigroup traders bet against the security, or shorted it, making money at the expense of its clients, the complaint says.
BUSINESS
May 27, 2011 | By Nathaniel Popper, Los Angeles Times
A former Nasdaq executive has pleaded guilty to securities fraud for using insider information that, regulators allege, helped him net $755,000 trading stocks on the exchange. Donald Johnson admitted Thursday in a federal court in Virginia that he made trades on eight separate occasions from 2006 to 2009 using information he was given as part of his work for Nasdaq's market-intelligence unit in New York. "This case is the insider trading version of the fox guarding the henhouse," Robert Khuzami, the director of enforcement at the Securities and Exchange Commission, said in a statement.
BUSINESS
November 17, 2012 | By Andrew Tangel and E. Scott Reckard, Los Angeles Times
JPMorgan Chase & Co. and Credit Suisse agreed to pay $417 million to settle the latest cases brought in the federal government's efforts to punish Wall Street firms for the financial crisis. The cases stem from alleged misstatements and failures to disclose that borrowers had defaulted on subprime home loans bundled into residential mortgage-backed securities, or RMBS. The faulty mortgage investments fueled the housing bubble before it burst in 2007. The settlements, announced Friday, came four years after the mortgage meltdown pushed the investment bank Lehman Bros.
BUSINESS
November 29, 2011 | By Nathaniel Popper, Los Angeles Times
A federal judge in New York issued a stern challenge to the government's recent history of imposing "relatively modest" punishments on big Wall Street banks for wrongdoing during the financial crisis. Jed Rakoff, a federal judge in Manhattan, issued a sharply worded order Monday rejecting a proposed $285-million settlement between the Securities and Exchange Commission and Citigroup Inc. that would have allowed the bank to avoid admitting it defrauded investors over toxic mortgage securities.
NEWS
July 15, 2010 | By James Oliphant and Tom Petruno
WASHINGTON -- The government on Thursday settled its sweeping civil fraud case against Goldman Sachs & Co., the Wall Street banking giant that came to exemplify the financial-market meltdown that helped plunge the country into the worst recession in a generation. Under the terms of the agreement, Goldman will pay $550 million, the largest fine ever imposed on a Wall Street firm. In April, the Securities and Exchange Commission accused Goldman of, in a sense, simultaneously betting both on the viability of the soaring housing market and on its collapse.
BUSINESS
February 7, 2010 | Kathy M. Kristof, Personal Finance
When it comes to securities fraud, 2009 was either the best of times or the worst. Both arguments are made in the statistics. Last year, the Securities and Exchange Commission, the nation's top investment regulator: Sought 71 temporary restraining orders to halt misconduct and prevent further harm to investors. That was up 82% from 2008. Doubled the number of formal investigations of securities violations. Ordered wrongdoers to disgorge some $2.1 billion in ill-gotten gains, up 170% from the previous year.
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