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Securities And Exchange Commission

BUSINESS
November 21, 2007 | From Times Wire Services
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.
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BUSINESS
November 20, 2007 | From Times Wire Services
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.
BUSINESS
November 16, 2007 | From Times Wire Services
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.
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.
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 31, 2007 | From Bloomberg News
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.
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
October 3, 2007 | From Times Wire Services
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.
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.
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