Articles Tagged with ''SEC''

SEC puts an end to Carrington Capital investigation

After 18 months, they got nothing
After an 18-month investigation, the Securities and Exchange Commission will not issue any penalties or pursue any enforcement action against Carrington Capital Management over its acquisition of New Century Financial.
Read More

It’s over: SEC settles with Freddie Mac executives

Former Freddie Mac CEO, others faced charges over subprime mortgages
The Securities and Exchange Commission’s high-profile case against several former Freddie Mac executives over allegedly misleading investors about the quality of subprime mortgages is now over, and it ended rather quietly.
Read More

Zillow-Trulia deal receives FTC approval, will close in days

Zillow reports record revenue in 2014
Zillow's once-controversial acquisition of its largest competitor is days away from completion, perhaps as soon as the markets reopen. The company announced late Friday that its proposed $2.3 billion merger with Trulia is expected to close within days, following notification that the Federal Trade Commission closed its investigation of the merger.
Read More

Australian hedge fund bets $1 billon on Zillow-Trulia

“We believe Zillow will be a $50 billion enterprise value company”
One of Australia’s largest hedge funds is betting big on the future of online real estate in the U.S., to the tune of more than $1 billion. And if online real estate progresses as the hedge fund expects, its $1 billion could turn into $10 billion rather easily.
Read More

S&P settles with SEC for $58 million over bond ratings fraud

First action against one of the big three ratings firms

“Investors rely on credit rating agencies like Standard & Poor’s to play it straight when rating complex securities like CMBS,” said Andrew J. Ceresney, director of the SEC Enforcement Division. “But Standard & Poor’s elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors."

Read More

Too many regulators in the kitchen

SEC says firms face lawsuits from multiple agencies
As more regulators pile the lawsuits on firms, the chances of overlapping investigations quickly escalates, which could disrupt regulatory probes and lead to unnecessary lawsuits.
Read More