SEC

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Merrill Hedging Prompts Inquiry
Merrill Hedging Prompts Inquiry
Nov 2, 2007 7:55 AM CDT

Merrill Hedging Prompts Inquiry

SEC seeks info on delayed mortgage reckoning

(Newser) - Merrill Lynch, still reeling from an $8.4 billion write-down on mortgage-related losses last month, has been making deals with hedge funds that may have been calculated to keep further losses out of investors' view, the Wall Street Journal reports. The move has attracted the attention of the SEC, which...

Bulldogs Take the Field&mdash; &amp; Game
Bulldogs Take the Field—
& Game
Oct 28, 2007 7:00 AM CDT

Bulldogs Take the Field— & Game

Georgia defeats rival Gators 42-30, celebrating all the way

(Newser) - The Georgia Bulldogs gained a hard-fought victory over the Florida Gators last night, and their mild-mannered coach turned over a colorful new leaf, the Atlanta Journal-Constitution reports. Mark Richt ordered his team—all 70 players—onto the field after the Bulldogs' first touchdown, drawing two penalties for unsportsmanlike conduct but...

2-Loss Florida Wins to Stay Atop SEC East

LSU, still the only 1-loss SEC team, keeps BCS hopes alive with last-second victory

(Newser) - The Southeastern Conference no longer has any undefeated teams, and with big upsets coming thick and fast this college football season, twice-beaten schools like Florida may have a real chance at a national title. The Gators beat Kentucky 45-37 last night to join a three-way tie of 3-2 teams leading...

Remaining Democrat Leaves SEC
Remaining Democrat Leaves SEC
Oct 3, 2007 11:38 AM CDT

Remaining Democrat Leaves SEC

Commission now a one-party shop after 2nd departure in month

(Newser) - The Securities and Exchange Commission is down to three lone Republicans after the second Democrat in a month resigned yesterday, MarketWatch writes. Annette Nazareth's departure comes just two weeks after Roel Campos left the 5-seat board. And the single-party rule makes some observers—who fear that the commission will become...

Apple CEO Subpoenaed by SEC
Apple CEO Subpoenaed by SEC
Sep 20, 2007 5:30 PM CDT

Apple CEO Subpoenaed by SEC

Jobs doesn't appear to be target in backdated options case

(Newser) - Apple CEO Steve Jobs has been subpoenaed by the Securities and Exchange Commission in a case involving backdated stock options, the Wall Street Journal reports. Apple's former counsel, Nancy Heinen, is the target and not Jobs. Though Apple already admitted to backdating options, and that Jobs had a hand in...

SEC: Don't Blame Credit Markets for Firm's Demise

Bankrupt cash management operation comes under federal scrutiny

(Newser) - The feds don’t know what happened to the millions of dollars that disappeared from the books of a Chicago-area cash management firm, but they don’t believe upheaval in the credit markets is to blame. Days after Sentinel Management blocked investors from withdrawing their investments, the company filed for...

Obscure Rule Change Blamed for Wild Market

'Downtick' regulation helped check stock free falls

(Newser) - A change in an arcane rule governing stock trading is being blamed for some of the recent volatility in the stock market, the Wall Street Journal reports. For more than 75 years, the "downtick rule" prevented traders from shorting a stock as the price fell. Its repeal last month...

Senior Dem at SEC Will Call It Quits

Departure clouds outlook for shareholder input on directors

(Newser) - The SEC's senior Democrat, widely seen as tough on business and pro-shareholder, filed his walking papers yesterday. Roel Campos will quit the five-member panel next month after 5 years on the job and with a proposal pending that allows investors a greater say in appointment of company directors, the Washington ...

McDonald's Takes Good News to Go
McDonald's Takes Good News to Go
Jul 24, 2007 2:12 PM CDT

McDonald's Takes Good News to Go

Company's strong results can't offset cost of Latin American sale

(Newser) - Despite strong global sales, McDonald’s reported a second-quarter loss today, which it attributed to its sale of Latin American franchises. The company lost $711.7 million, or 60 cents a share, but said its new offerings and value menu drew consumers, CNNMoney reports. Excluding the Latin American charge, earnings...

SEC Shuts Down Online Terror List
SEC Shuts Down Online Terror List
Jul 22, 2007 10:42 AM CDT

SEC Shuts Down Online Terror List

Web tool designed to spotlight companies trading with terror sponsors

(Newser) - The SEC is taking down an online list used to expose companies that do business with countries affiliated with terrorism after critics charged that the Web tool made false accusations and wasn't up to date. "It was basically a word-search list," a US official tells the Wall Street ...

Dow Jones Director Quits Over Murdoch Deal

'Journalistic values will suffer'

(Newser) - A German publishing heir resigned from the Dow Jones board of directors yesterday in protest over the board's vote to accept Rupert Murdoch's $5 billion offer to buy the company. In his letter, Dieter von Holtzbrinck said the deal jeopardized the editorial integrity of the Wall Street Journal. "Dow...

Whole Foods CEO Sorry for Web Subterfuge

Online shenanigans draw board scrutiny along with SEC probe

(Newser) - The CEO of Whole Foods apologized yesterday for boosting his company and posting snide comments about a rival supermarket chain in Internet forums and said he "had fun doing it." John Mackey's actions over the last 8 years have already triggered an SEC investigation, and the company's board...

Funds Find One Bet They Can't Hedge: Trust

It's 1998 all over again as Bear Stearns buckle triggers panic

(Newser) - The recent collapse of two Bear Stearns hedge funds, and the resulting informal SEC investigation, have once again placed the complex system and its impact on markets under the spotlight. The Washington Post delves into the history and ethos of the powerful funds, comparing them to the Wizard of Oz...

SEC Opens Subprime Probe
SEC Opens Subprime Probe
Jun 27, 2007 2:17 PM CDT

SEC Opens Subprime Probe

Cox announces investigations into CDOs in wake of Bear Sterns tremors

(Newser) - The feds are investigating the controversial bundles of financial services that have recently shaken the market and sparked a spate of leveraged buyouts, the Journal reports. SEC chief Christopher Cox told a congressional panel yesterday that "about 12 investigations" were under way into CDOs, shared debt packages reliant on...

SEC Gets Lessons on Terrorism
SEC Gets Lessons on Terrorism
May 21, 2007 2:03 PM CDT

SEC Gets Lessons on Terrorism

Briefings reveal expanding concern over financial terror

(Newser) - For the first time in history, the SEC is being briefed on a different kind of security: homeland security. Barron's revealed that the CIA is filling in the SEC every month about terrorists and other criminals who might affect world stock markets.

Journal Offer Prompted Insider Trading, SEC Says

(Newser) - The SEC has filed its first suit for insider trading involving Rupert Murdoch's bid to buy the Wall Street Journal's parent company. The agency alleges a Hong Kong couple knew about the offer when they bought $15 million of Dow Jones stock in April and sold it for an $8....

Banker Busted For Insider Trading
Banker Busted
For Insider Trading
May 3, 2007 10:32 PM CDT

Banker Busted For Insider Trading

Credit Suisse hire charged with passing tips to Pakistani banker

(Newser) - Federal prosecutors and the SEC are charging a Credit Suisse banker with relaying insider information to an unnamed Pakistani banker who made more than $7 million on illegal trades. Hafiz Nasseem, who started at the bulge-bracket bank last year, is said to have immediately started sharing tips on upcoming deals—...

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