November 21, 2007 |
The Securities and Exchange Commission said Tuesday that it would take up next week a rule to let companies keep shareholders' director nominees off corporate ballots. Some institutional investors are opposed to the rule, which is to be considered Nov. 28, saying they deserve a bigger say in picking directors because company-picked boards have failed to police executives. Democratic lawmakers have joined the fight, urging the SEC to delay action.
November 20, 2007 |
Sanctions imposed by the Securities and Exchange Commission fell to the lowest level since 2002, after Republican commissioners complained that heavy penalties hurt investors and the agency brought fewer billion-dollar accounting fraud cases. The SEC brought a record 656 cases in fiscal 2007, 14% more than the previous year. But the agency collected only $1.6 billion in fines and illicit profit in the year ending Sept.
November 16, 2007 |
The Securities and Exchange Commission on Thursday eliminated a rule requiring foreign companies with U.S.-traded shares to explain their financial results in line with U.S. accounting standards. The move, a push toward acceptance of a single, global accounting standard, has raised objections from investor advocates and some key lawmakers.
November 8, 2007 |
Embattled investment bank Merrill Lynch & Co. said Wednesday that federal regulators were investigating matters related to its holdings of high-risk mortgage debt. The Securities and Exchange Commission began the investigation Oct. 24, the world's largest brokerage firm said in a regulatory filing. It did not provide details but said it was cooperating with the inquiry.
November 3, 2007 |
Financial advisors like to say that there is no free lunch in investing. If you expect to earn above-average returns, you must be willing to take above-average risk. But we know that isn't true with federally insured bank deposits. Because all banks offer exactly the same insurance from Uncle Sam, there's usually no reason to avoid the banks that pay the highest yields.
October 31, 2007 |
Dell Inc. on Tuesday restated more than four years of results to cut profit by $92 million after a yearlong probe into its accounting found that financial reports had been manipulated. The PC maker submitted new figures for earnings from fiscal 2003 through the first quarter of 2007, according to filings with the Securities and Exchange Commission. Dell had said in August it would file the paperwork by early November.
October 15, 2007 |
washington -- Back in June, members of the Securities and Exchange Commission offered a striking show of unity as they appeared before a House committee examining oversight of the financial markets. There was no sign of the acrimony that had characterized the panel in years past. Credit for that went largely to Chairman Christopher Cox, the former Republican congressman from Orange County, whose policy smarts and collegial manner helped him land the appointment from President Bush in 2005.
October 10, 2007 |
The Securities and Exchange Commission will examine potential anti-competitive practices by credit rating companies as part of the agency's new oversight of the industry, SEC Chairman Christopher Cox said Tuesday. The credit rating industry has come under fire from U.S. lawmakers for failing to sufficiently highlight risks in complex financial instruments linked to sub-prime mortgages.
October 4, 2007 |
Sen. Christopher J. Dodd (D-Conn.), chairman of the Senate Banking Committee, said Wednesday that the Securities and Exchange Commission shouldn't make any policy decisions if its two Democratic seats are vacant. With the departure of Roel C. Campos, who already has left the SEC, and Annette L. Nazareth, who plans to leave soon, the agency would be missing two of its five commissioners. "I don't think they should be making any decisions at the moment," Dodd said.
October 3, 2007 |
Annette L. Nazareth, the only remaining Democratic member of the Securities and Exchange Commission, will leave to return to the private sector but has not set a date for her departure, the agency said Tuesday. Nazareth, who spent nine years at the agency as a commissioner since 2005 and, earlier, as director of the SEC's market regulation division, has been the only Democrat on the five-member panel since the departure of Roel C. Campos last month.