SEC's 698-Page Plan to Prevent Bank Runs Boils Down to 2 Words
In 2008, respectedReserve Primary Fund "broke the buck" and investors lost money they thought was totally safe. Now, the SEC wants to prevent a repeat.
securities and exchange commission
New Rule on Goldman Sachs Bonuses: Don't Embarrass the Firm
Goldman Sachs employees earn stellar bonuses, even by Wall Street's standards. But now, bonuses will be tied to more than earnings; they'll also be tied to avoiding bad PR.
Selling a Pension for a Lump Sum: A Bad Deal on Both Sides
If you get a monthly pension check, but need a lot of cash now, you might be considering a pension income stream deal. Here's why you should find another way to get the money.
SEC Gives Companies OK to Use Social Media for Announcements
The Securities and Exchange Commission says public companies can make significant announcements on social media sites, if they tell investors which sites they intend to use.
ZeekRewards: A $600 Million Ponzi Scheme Born in a N.C. Town
The SEC says Paul Burks ran a $600 million Ponzi scheme -- one of the biggest in U.S. history -- that attracted 1 million investors, including nearly 50,000 in North Carolina.
SEC Approves Plan to Reimburse Investor Losses in Facebook IPO
The Securities and Exchange Commission approves a plan to compensate market makers who lost money in last year's botched Facebook IPO.
Hedge Fund Agrees to Pay $600M to Settle Insider-Trading Charges
Two affiliates of SAC Capital Advisors, the hedge fund run by billionaire Steven Cohen, will pay more than $614 million to settle insider trading settlement charges.
Mary Jo White Promises 'Unrelenting' Enforcement at SEC
Mary Jo White vowed Tuesday to make "bold and unrelenting" enforcement of Wall Street a high priority if she is confirmed chairman of the Securities and Exchange Commission.
SEC Charges Illinois With Fraud -- and Settles Immediately
On Monday, the Securities and Exchange Commission published a notice that simultaneously charged the state of Illinois with committing securities fraud and also settled the charges, without requiring Illinois to either "admit or deny" the agency's findings.
Post-Financial Crisis, the SEC Is More Toothless Than Ever
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.
Exchanges Seek Test Program for Small, Mid-Cap Stock Pricing
Representatives from NYSE Euronext, Nasdaq OMX and BATS Global Markets will be among the experts to gather during a daylong roundtable at the Securities and Exchange Commission to discuss tick sizes, or the minimum pricing increment that can be used to trade securities.
Obama to Tap Former Federal Prosecutor Mary Jo White to Head SEC
President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission (SEC), a White House source said, restoring the agency's power to work on its overhaul of Wall Street.
JPMorgan CEO Sees Pay Slashed Over London Whale Trading Loss
JPMorgan Chase reported a 55 percent jump in earnings for the fourth quarter as mortgage fees and other income surged. The bank also released its reviews of a $6 billion trading loss that drew sanctions from regulators, and said it would cut CEO Jamie Dimon's pay by more than half as a result.
10 Mistakes That Turn Investors Into Their Own Worst Enemies
The hardest part of investing can sometimes be getting out of your own way. Too often, we let emotions guide our investing strategies, with disastrous results. A new study reveals the most common mistakes: We've summed up the popular pitfalls so you can avoid them.
Insider Trading at Playboy: The Case Against Christie Hefner's Husband Revealed
Christie Hefner, daughter of Hugh Hefner, was in control of Playboy Enterprises for two decades as its CEO. What she wasn't in control of was her husband, William Marovitz, who was secretly trading Playboy stock based on inside information. A new report by Bloomberg reveals the details of his transgressions for the first time.
Entrepreneur of the Year Allegedly Stole $40 Million From Investors
A Miami businessman whom Ernst & Young once named "Entrepreneur of the Year" has been accused of swindling $40 million from investors, including some NBA stars, to support a lavish lifestyle. Venezuelan-born Claudio Osorio, 54, was arrested Friday and charged with 23 counts of fraud and money laundering .
Mary Schapiro Stepping Down After Leading SEC in Crisis
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.
The (Welcome) Death of a Stock Salesman
It's the end of an era... or at least of a notable decade. Earlier this month, penny-stock promoter Wall Street News Alert announced it is winding down after a decade-long run. In a widely distributed press release that at times sounded like a eulogy to the dearly departed, WSNA confirmed that it "has left the investor relations business."
Beleaguered Knight Capital Gets a $400 Million Financing Lifeline
Beleaguered Knight Capital says investors have agreed to supply it with $400 million in financing, which would help the trading firm stay in business after last week's disastrous software glitch that shook stock trading across the market, cost the firm $440 million, and jeopardized its future.
SEC Requires Uniform System for U.S. Stock Exchanges
U.S. stock exchanges and markets must establish a uniform system for tracking all orders and trades under an SEC rule approved Wednesday. The change should make it easier for the government to investigate market disruptions like the 2010 Flash Crash.
BofA Accused of Hiding Merrill Lynch Bad News Before Buyout
Top executives at Bank of America did not tell shareholders just prior to a 2008 vote on its purchase of Merrill Lynch that its losses were mounting, papers filed in shareholder litigation show. But the bank says it should not be liable to shareholders in the matter.
Facebook Boosts Size of IPO by 25% in Light of Investor Demand
Facebook insiders will be unloading more of their shares in the initial public offering, the company said Wednesday, as they take advantage of investor demand. The entire increase comes from insiders and early investors, so the company won't benefit from the additional sales.
JPMorgan's $2 Billion Loss Stuns Market; Bank Stocks Sink
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.
How the JOBS Act Turns Ordinary Joes Into Venture Capitalists
On Thursday afternoon, President Obama signed the JOBS Act, and among the changes it will bring to the world of business startups is one that makes use of a rising trend: The power of crowdsourcing.
SEC Warns of Social Media Schemes After Fraud Case
Regulators are warning the public to be wary of social media sites that could be offering bogus investment schemes. The warning follows civil charges filed by the Securities and Exchange Commission against an Illinois-based investment adviser who tried to sell fraudulent securities through Linkedin.
L.A. Radio Host Charged With Ponzi Scheme
An Iranian-American businessman who hosted a popular Persian language radio show called Economy Today has been indicted on charges that he robbed investors of $20 million in a Ponzi scheme than ran for six years.
Is Facebook Finally Ready to IPO?
Facebook may finally be ready to go public in the second quarter of 2012. At an estimated valuation of $100 billion, the social networking giant is probably no longer a ground-floor opportunity -- but could even that number be too low?
'Money Protecting' Investment Carries Hidden Risks
Structured securities products are bonds backed by stocks that allow investors to hedge their risks using options. In theory, this complex sounding setup can provide predictable returns and protection from volatile markets. There's only one catch: SSPs are often a bad idea for most investors.
McDonald's McRib's Deep, Dark Secret: Animal Cruelty
McDonald's reintroduction of the McRib sandwich has made news headlines and mouths water. However, the fans eagerly awaiting the limited-time opportunity to wolf down McRibs may not realize that McDonald's pork products contain a secret, unappetizing ingredient: pain.