November 18, 2008 |
The Securities and Exchange Commission, facing congressional questions over its vigilance in policing Wall Street and corporate fraud, said Monday that it im- posed more than $1 billion in sanctions in the last fiscal year. Fines and orders extracting ill-gotten profits surpassed that amount in the 12 months that ended Sept. 30, the SEC said in an annual report, without giving specific figures. The agency imposed $1.
October 25, 2008 |
Mona Mond had a plan -- and it didn't include Wall Street going haywire and giving up a three-bedroom house with a half-acre yard for a small apartment. She'd married a man with a career on Wall Street, and at the very least she was going to live in a house, preferably brand new, with a Jacuzzi in her bedroom and a pool in that yard. There'd be a maid -- and no skimping, no worrying that any day Amar, her husband, would lose his job.
October 2, 2008 |
The Securities and Exchange Commission has backed away from its plan to force money managers to disclose publicly how they've "shorted" stocks. The agency late Wednesday announced changes to a series of emergency rules it put in place beginning Sept. 17 to curb short selling, which has been fingered -- some say unfairly -- as a major cause of the collapse of many bank and brokerage stocks. As expected, the SEC, under Chairman Christopher Cox, said it would extend its outright ban on shorting of nearly 1,000 financial stocks beyond the scheduled expiration today.
October 2, 2008 |
Looking down from his building's 87th floor at the glittering signs of multinational banks along the river here, Fan Dizhao declared confidently that Wall Street's reign as the world's No. 1 financial hub is coming to an end. The United States is grappling with its worst economic crisis since the Great Depression, but these are go-go days in China. Venture capital, private equity and foreign direct investment are at all-time highs.
July 16, 2008 |
The Securities and Exchange Commission on Tuesday stepped up its war against what it believes is manipulation of stocks by "short sellers" -- traders who bet on falling share prices. SEC Chairman Christopher Cox surprised Wall Street with a plan to curb illegal short selling in 19 major financial company shares, including embattled mortgage titans Fannie Mae and Freddie Mac. Shares of Fannie and Freddie have been big targets of bearish traders this year.
April 18, 2008 |
New York's attorney general and securities regulators in nine other states are probing auction-rate securities and the role Wall Street firms had in enticing investors into the troubled $330-billion market. New York Atty. Gen. Andrew Cuomo's office launched an investigation this week, sending subpoenas to 18 broker-dealers and banks, people familiar with the probe said Thursday. The securities were long touted as cash-like investments, attracting both individual and institutional investors, until the credit crunch led to a breakdown in the market.
October 17, 2007 |
Foreigners sold a record amount of U.S. securities in August as a global credit crunch sparked an exodus from stock and bond markets, the Treasury Department said Tuesday. In a separate report, the United Nations said that last year the U.S. was once again the favorite destination for companies investing in businesses outside their home countries. The Treasury's monthly report on foreigners' transactions in domestic equities and long-term debt securities said overseas investors sold a net $34.
July 25, 2007 |
The private equity boom that has helped drive the 4 1/2 -year-old bull market in stocks is facing severe pressure as investors chastened by the sub-prime mortgage debacle balk at financing risky deals.
July 12, 2007 |
A Calabasas-based securities broker was accused Wednesday of taking improper payments from a mutual fund company that he recommended to union retirement plans. Michael L. Bullock violated securities rules by accepting $262,500 in payments in 2002-03 from fund giant Massachusetts Financial Services Co. and then deceiving clients about taking the money, according to the NASD, the brokerage industry's chief regulator.
April 23, 2007 |
Judging from the crowded tables at the Hawaiian Tropic Zone in Times Square, it's hard to believe that some people are fretting about the future of Wall Street. The restaurant, where bikini-clad waitresses serve grass-fed veal chops and white peach Bellini cocktails, counts on free-spending bankers and traders for 20% of its business. "They definitely spend a lot of money, more than the tourists," said waitress Katherine Mesa. "The Wall Street guys are used to money."