SEC
Get the latest news and insights on the Securities and Exchange Commission's' financial regulations (such as Regulation Best Interest), enforcement actions and related activities.
SEC's Schapiro to step down in December
By Melanie WaddellAfter months of speculation that she would depart, Schapiro made it official Monday morning.
November 21, 2012
Treasury’s Miller Surfaces as Possible Replacement for SEC’s SchapiroRumors are circulating that Treasury Department Under Secretary Mary John Miller, former T. Rowe Price executive, is the top candidate to replace Schapiro.
November 20, 2012
The Case of the Aspirational AUM: SEC Says RIA Inflated AUM TenfoldA New York-based firm inflated its AUM to qualify for SEC registrationliterally moving decimals on a spreadsheetwhile a San Francisco-based firm dithered for 18 months in delivering mutual fund records to the SEC.
November 20, 2012
SEC Enforcement Roundup: High School Dropout ‘Advisor’ Busted for FraudThe SEC charged a man who was high school dropout and a phony investment advisor who spent his clients funds on drugs and gambling; and a group of former high school buddies were charged with engaging in insider trading.
November 16, 2012
J.P. Morgan, Credit Suisse to Pay Combined $400 Million Settlement for RMBS ViolationsThe SEC alleges that J.P. Morgan misstated information about the delinquency status of mortgage loans that provided collateral for an RMBS offering in which it was the underwriter, while Credit Suisse similarly failed to accurately disclose its practice of retaining cash for itself from the settlement of claims against mortgage...
November 16, 2012
SEC Keeps Up Blistering Pace of Enforcements Against Advisors, BDs in 2012The SEC filed 147 enforcement actions against advisor and investment companies in 2012, one more than last years record number, and the number of actions this year against BDs jumped significantly.
November 16, 2012
SEC Enforcement Roundup: BP to Pay Third Largest Penalty in SEC HistoryAs part of the $4.5 billion settlement with the U.S., BP admitted to misleading investors about the rate of the oil flow in the Deepwater Horizon disaster in the Gulf of Mexico in 2010.
November 15, 2012
BP to Pay $4.5 Billion in Gulf Spill; SEC Levies Huge PenaltyBritish oil company BP agreed Thursday to pay $4.5 billion to the U.S. in fines and other charges, including $525 million to the SECthe third largest penalty ever assessed by the SECover the oil spill in the Gulf of Mexico.