SEC, DOJ Sue BofA Over Mortgage-Backed Securities
The two lawsuits entail about $850 million of RMBS sales in 2008 that led to losses of some $120 million, regulators estimate.
UBS to Pay SEC $50M for Misrepresenting CDO
The SEC said that the head of the U.S. CDO group at UBS stated, “Let’s see how much money we can draw out of the deal.”
SEC Charges SAC Capital’s Cohen
The SEC on Friday charged hedge fund advisor Steven Cohen, founder of SAC Capital Advisors, with failing to prevent two portfolio managers from insider trading.
SEC’s Structured Products Chief to Exit
The SEC announced Tuesday that Kenneth Lench, chief of the Enforcement Division’s Structured and New Products Unit, will leave the agency for the private sector at the end of July.
SEC Names Asset Management Enforcement Co-Chiefs, Legislative Director
Julie Riewe, Marshall Sprung to jointly run unit in enforcement division, while Timothy Henseler will direct Office of Legislative and Intergovernmental Affairs.
Former SEC Compliance Chief Tells White: Stop Suing Compliance Officers
John Walsh gave new SEC Chairwoman Mary Jo White some blunt advice: stop suing compliance officers “or the future of the profession may be at risk.”
CBOE to Pay $6M Fine to SEC Over Regulatory ‘Breakdowns’
The CBOE was charged with various violations, including a “failure to enforce or even fully comprehend” rules to prevent abusive short selling.
Nasdaq to Pay SEC $10M Over Botched Facebook IPO
The SEC on Wednesday charged Nasdaq with violations resulting from “poor systems and decision-making” during the IPO and secondary trading of Facebook shares.
SEC Charges Raj Rajaratnam’s Brother With Insider Trading
Rajarengan “Rengan” Rajaratnam was charged by the SEC Thursday for his role in the massive Galleon insider trading scheme.
CFP Board Hires Cranford as New Lobbyist
The CFP Board has beefed up its lobbying power by hiring Todd Cranford, who advised former Rep. Barney Frank, D-Mass.