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Securities And Exchange Commission

BUSINESS
November 8, 2007 | From the Associated Press
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.
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BUSINESS
November 3, 2007 | TOM PETRUNO
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.
BUSINESS
October 15, 2007 | Jonathan Peterson, Times Staff Writer
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.
BUSINESS
October 10, 2007 | From Times Wire Services
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.
BUSINESS
September 28, 2007 | Jonathan Peterson, Times Staff Writer
Shareholder activists Thursday blasted proposals by the Securities and Exchange Commission affecting investor rights in corporate elections, suggesting the agency's approach would not resolve a long-smoldering dispute. "I think this is a case where more work needs to be done," Rep. Barney Frank (D-Mass.), chairman of the House Committee on Financial Services, said after a hearing on the matter.
BUSINESS
September 28, 2007 | From Times Wire Services
Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period. The Securities and Exchange Commission announced the settlement Thursday. Three former Freddie Mac executives settled SEC charges of negligent conduct by agreeing to pay a total of $265,000 in civil fines and to make restitution totaling $125,548.
BUSINESS
September 23, 2007 | Kathy M. Kristof, Times Staff Writer
A coalition of investor groups wants to mobilize shareholders to upend proposals that could damage their rights. "This is a critical moment," said Daniel Pedrotty, director of the office of investment at the AFL-CIO, which has become an activist investor on behalf of the union's pension plan. "Now is the time that people really need to weigh in, not only with the Securities and Exchange Commission but with their congressmen." The issue: the election of corporate directors.
BUSINESS
September 18, 2007 | Marc Lifsher, Times Staff Writer
A coalition of environmentalists, state officials and pension-fund managers is urging the Securities and Exchange Commission to ensure that investors get more information from oil companies, insurers and other publicly traded companies about how global warming might affect their bottom lines.
BUSINESS
September 6, 2007 | From Times Wire Services
The Securities and Exchange Commission is monitoring the biggest Wall Street securities firms to gauge whether they face losses from investment vehicles that sold short-term debt, an agency official said Wednesday. The SEC, concerned about the collapse of the sub-prime mortgage market, is reviewing "contingencies that might place additional strains on the balance sheets" of investment banks, Erik Sirri, head of the agency's market regulation division, said in congressional testimony.
BUSINESS
September 1, 2007 | From the Associated Press
The Securities and Exchange Commission this year required vastly expanded disclosure from most public companies on pay for their top executives. In the last week, the agency has been faxing requests for even more information from 300 of the largest companies. The SEC is seeking more details on how the firms arrived at the compensation packages.
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