October 22, 1986
The Securities and Exchange Commission said the San Francisco brokerage house had failed to reasonably supervise certain former employees who allegedly took "excessive" commissions on Treasury bond sales in 1982-84. Sutro & Co. should have detected the overcharges internally, the SEC charged. A settlement was made without the firm admitting or denying any wrongdoing. The company said it would refund any overcharges to clients within 120 days.
May 8, 2008 |
The Securities and Exchange Commission plans to share more information with the Federal Reserve about the health of investment banks after a run on Bear Stearns Cos. put the firm on the brink of filing for bankruptcy. The SEC and the Fed are preparing a "memorandum of understanding" for communicating with each other, Erik Sirri, head of the SEC's trading and markets division, said in Senate testimony Wednesday. The effort reflects the fact that the central bank is lending money to investment banks for the first time since the Great Depression, he said.
December 8, 2013
CHARLOTTE, N.C. - - The final Saturday of the first Bowl Championship Series season in 1998 ended with shocking losses by Kansas State and UCLA that turned the BCS on its ear hole. Wild endings in St. Louis and Miami that day put Tennessee and Florida State in the first title game. It seemed only right that the final Saturday of the last BCS season should match that chaotic conclusion. Well, it certainly tried. In the end, though, somehow, it sort of broke cleanly. How?
February 7, 2010 |
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.
October 23, 2008 |
The Securities and Exchange Commission said it brought 671 enforcement cases in the fiscal year that ended Sept. 30, with the number of market manipulation cases up more than 45% over the previous year. The SEC also said it has more than 50 pending investigations related to the subprime mortgage market. The agency, working in conjunction with the FBI and federal prosecutors, has been investigating whether mortgage lenders and Wall Street firms participated in fraud. The 671 cases initiated in the latest fiscal year represent the second-highest number of enforcement actions in the SEC's history, the agency said.
April 16, 2010 |
Spurred by the government's lawsuit against Wall Street investment banking giant Goldman Sachs & Co., President Obama said Friday that he would veto any overhaul to financial regulations that doesn't include new rules on the derivatives market. The president's comments came after the Securities and Exchange Commission earlier in the day filed a civil lawsuit accusing Goldman Sachs and one of its vice presidents of fraud in marketing complex mortgage-backed securities that were partly to blame for the financial crisis that gripped the nation.
August 4, 1985
Your story, "Anatomy of a Stock Deal Turned Sour" (July 21) about people in a Texas town following the lead of newcomer Thomas W. Reid by buying into a stock while the market was allegedly manipulated to affect the price--all to their ultimate disaster when the price bubble burst--raises an issue that has bothered me about regulatory enforcement activities. Your story was prompted by a settlement with the Securities and Exchange Commission in which the defendant consented to a boilerplate court order.
May 18, 1989 |
David S. Ruder is resigning as chairman of the Securities and Exchange Commission to return to the faculty of the Northwestern University School of Law, the agency announced today. Under Ruder's command, the SEC conducted a massive investigtion into insider trading on Wall Street that resulted in charges against a string of financiers including speculator Ivan Boesky, junk bond wizard Michael Milken and Milken's firm, Drexel Burnham Lambert Inc. In a letter to President Bush, Ruder said he plans to return to Northwestern at the end of August.
September 28, 2013 |
Oklahoma and Notre Dame tried their best, but it was remarkable, really, how much Saturday sunlight splashed on the Southeastern Conference. It followed a week when the SEC unveiled "Book of Manning" with all its drippy-syrup Southern comfort and teary-toddler footage of Peyton fighting with his brother. These guys know how to story-tell. The league of seven straight champions had the No. 12 team, South Carolina, in the 9 a.m. PDT spot followed by No. 6 Louisiana State at No. 8 Georgia on CBS. That's the hallowed, midday "My Goodness" show hosted by Verne and Gary.