Whether you have millions of dollars invested in stocks, or a few thousand bucks in mutual funds, it's vitally important to you that the SEC -- Wall Street's top cop -- is doing its duty, and enforcing the law. But a new report casts doubt on whether our financial cop is really on the beat.
Mary Schapiro is stepping down as chairman of the Securities and Exchange Commission after helping lead the Obama administration's regulatory response to the 2008 financial crisis. The SEC says Schapiro will leave on Dec. 14.
Facebook has ended its third trading day and the world is falling apart -- again. The stock closed Tuesday at $31, down 19% from the $38 IPO price, lead underwriter Morgan Stanley is under fire, the SEC is ready to investigate, and analysts are blaming everyone. Oh, and the fundamentals? Those haven't changed a bit.
JPMorgan Chase stock lost more than 8% of its value Friday after the bank, the largest in the United States, revealed a monster $2 billion loss in a trading group that manages the risks the bank takes with its own money.
Additional changes to prevent another "flash crash" are on the way, the U.S. Securities and Exchange Commission said Monday. Among other things, the commission may tinker with the circuit breakers it set up to automatically halt trading if a stock falls 10% in five minutes.
