Thanks to public outcry and the prodding of the SEC, public companies don't throw crazy perks at their CEOs the way they once did. But execs still routinely get lavish benefits that increase their pay by millions. See our list of this year's most outrageous CEO perks.
Goldman Sachs has been fined $650,000 by the Financial Industry Regulatory Authority for failing to properly disclose to regulators that two of its executives were going to be investigated by the Securities & Exchange Commission, FINRA announced Tuesday.
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.
The May 6 "flash crash" is still somewhat of an enigma, but an advisory panel meeting on Friday to review a report into it could at least help regulators establish some new market rules to prevent similar crashes from occurring in the future, Reuters reports.
Seven companies involved in the oil and gas industries will pay the U.S. government a total of $236.5 million to settle corruption charges. An investigation by the SEC and the Justice Department alleges that the companies bribed overseas officials to lower customs duties, extend drilling contacts and streamline the permit process for oil drilling.
Traders will no longer be able to make direct trades without broker supervision. As part of a series of changes after May's "flash crash," the U.S. Securities and Exchange Commission decided Wednesday to bar traders from having "naked" access to stock markets.
The U.S. Securities and Exchange Commission is considering a rule that would level the playing field between retail investors and high frequency traders. Under the proposed rule, unlicensed high-frequency traders will no longer be able to gain "naked access" to public markets through brokerages that rent out their access.
Office Depot has agreed to pay $1 million to settle Securities and Exchange Commission charges that it improperly disclosed key financial information to only a few analysts and shareholders. The CEO and former CFO also will pay $50,000 each.
Walgreen Chief Financial Officer Wade Miquelon was arrested on drunk driving charges last month -- his second such arrest in a little more than a year. The drugstore chain calls it a personal matter, but when it comes to executives, when does personal irresponsibility become a corporate problem?
How much power should shareholders have when it comes to running a company? Most corporate boards pay little attention to shareholders, but a new rule passed by the SEC may change that, allowing the people who actually own a company more input into how it is run.
When companies use the word "immaterial" to describe errors or irregularities in their previously reported numbers, what they're trying to say is that their mistakes involved such small amounts that they don't really matter. Too often, though, that's not really the case.
Whatever the cause of last May's "flash crash," the big question is how another crash can be avoided. According to Keith Saxton, Global Director of Financial Markets at IBM, "What we've learned is that the regulators don't have the same tools as the people playing the market. We have to tool up the regulators and supervisors to see what's actually going on in near real time."
U.S. District Court Judge Jed Rakoff is famous -- or infamous -- for his zeal in righting Wall Street's wrongs. But the Galleon insider trading civil suit he's presiding over has just earned him a wrist-slap from the Second Circuit Court of Appeals.
A Belgian court has convicted Jo Lernout and Pol Hauspie, the founders of the once high-flying speech recognition software company Lernout & Hauspie Speech Products, of fraud for using a variety of means to artificially inflate the company's revenues and income.
Angelo Mozilo, former CEO of Countrywide Financial, must face trial on charges he misled investors about the risks associated with subprime lending, a judge in Los Angeles ruled. U.S. District Judge John F. Walter denied requests from Mozilo and two other former Countrywide executives for a ruling that there were no genuine issues to be tried, Bloomberg News said.
After accusing Citigroup of misleading investors to the tune of more than $50 billion, the Security and Exchange Commission's proposed settlement of $75 million raised more than a few eyebrows -- including those of a federal judge. Now the SEC defends its proposed fine.
Wall Street titan Goldman Sachs has been fined £20m ($31 million) by British financial authorities for failing to disclose it was under investigation by the Securities and Exchange Commission -- an inquest which ultimately led to July's blockbuster $550 million stateside fine.
Intel cut its guidance for third-quarter revenues, citing weak consumer PC demand. The news signals underlying trends in technology that could be a drag on companies beyond Intel. Keep an eye on companies like Microsoft, HP, Dell and AMD.
In a clear win for the shareholders rights movement, the Securities and Exchange Commission announced Thursday that it was changing federal proxy rules to make it easier for companies' shareholders to nominate and elect directors to their boards.
When BHP Billiton made its offer to acquire Potash Corp., two residents of Madrid, Spain, made $1.1 million by buying out-of-the-money call options ahead of the announcement, the Securities and Exchange Commission claims. The SEC is suing the investors, and has frozen $1.1 million of their assets.
