Why Bachus’ SRO Bill Misses the Target
Bachus’ SRO bill would impose rigid exam standards on state regulators without corresponding standards on either the SEC or SROs.
Rymer Named Interim IG at SEC
Rymer, who currently serves as inspector general of the FDIC, will serve as interim inspector general of the SEC until a permanent successor can be found.
Jason Zweig Calls for Robots as Regulators
Jason Zweig is causing controversy—again—suggesting the ongoing SRO debate would be solved with robots (seriously).
Picard Hits Homer vs. Mets
How many All-Star free agents could $162 million have bought the New York Mets?
New Jersey’s Gov. Chris Christie is a rising star in Republican national politics.
Fraudulent Families Pt. 1: SEC Settles Father and Son Hedge Fund Fraud Case
Gabriel and Marco Bitran to pay $4.8 million penalty, barred from industry, for claiming a nonexistent track record for their quant hedge funds. There’s a Bernie Madoff connection as well.
Allen Stanford Found Guilty of $7 Billion Ponzi Scheme
Former billionaire Allen Stanford was convicted Tuesday of running a $7 billion Ponzi scheme. He was found guilty on 13 counts of a 14-count criminal indictment, including fraud and conspiracy.
Mets’ Owners Ordered to Trial Over Madoff Gains
Bad news for the New York Mets that goes way beyond their perennial bullpen issues: A judge ruled owners Fred Wilpon and Saul Katz will have to forfeit as much as $83 million in allegedly ill-gotten gains and will go to trial over another $303 million. Both findings are related...
‘Triumphs’ of the Regulators
The magnificent and multiple failures of financial regulators over the past few years have been rather alarming.
Independent BDs Back SIPC Over Stanford Suit
Fallout from the Allen Stanford case is still growing. In the latest clash over whether shareholders should be protected from losses á la Bernard Madoff, the National Association of Independent Broker-Dealers has sent a letter to the SEC, that says the SIPC should not have to cover those losses.