Articles Tagged with ''U.S. Securities and Exchange Commission''

Regulators Push for Hedge Fund Registration

There may be something lurking in the hedges; not a snake, but something with just as deadly a bite, according to financial market regulators. It's systemic risk. The Obama Administration continues its campaign for financial market regulatory reform, on Thursday submitting legislation that would mandate registration of hedge funds. The legislation calls for advisers to hedge funds and other private capital pools  like private equity funds and venture capital funds to register with the Securities and Exchange Commission (SEC).
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SEC Chair Seeks Transparency of Credit-Rating Agencies

The Securities and Exchange Commission (SEC) chair Mary Schapiro is seeking authority to mandate enhanced measures to promote the transparency and integrity of the nation’s statistical ratings firms, including the limitation of ratings shopping, according to testimony delivered Tuesday to a House Financial Services subcommittee.
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Proposed Legislation Calls for Broader SEC Authority

As part of the Obama Administration's plans for sweeping financial regulation overhaul, the US Treasury Department announced today the delivery of proposed legislation that would beef up the Securities and Exchange Commission's (SEC) authority to protect investors. The legislation establishes standards for anyone who provides investment advice relating to the purchase of securities, improves the timing and quality of disclosures and requires greater accountability from securities professionals.
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Viewpoint: A TV Special: The House Bank of America Soap Opera

Call me a geek, but my favorite daytime TV is a Congressional hearing into the causes of and solutions to this financial crisis. Who needs The View when you can watch some of the most ill-informed and selfishly motivated folks in American public life grandstanding for voters back home. The hot ticket in June has been the House Oversight and Government Reform Committee’s inquiry into the BofA-Merrill merger, “How Did a Private Deal Turn Into a Federal Bailout?”
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State Street May Face Suit on Securities

[Update 1] Financial service provider State Street [stock STT][/stock] may face civil charges over certain fixed-income strategies used by its institutional asset management business in 2007. The company said in a Securities and Exchange Commission (SEC) filing Monday that it had received a so-called "Wells" notice from the SEC staff. A Wells notice indicates the SEC's intention to bring civil enforcement action over possible violations of securities laws.
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Broader Authority Eyed for Financial Regulators

As the Congressional Oversight Panel pushes for the authority of financial industry regulators to conduct bank capital stress tests at their discretion, the word of the day for financial industry regulators seems to be expansion instead of consolidation.
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SEC Charges Countrywide's Mozilo with Insider Trading

Former Countrywide Financial CEO Angelo Mozilo and two other company executives face civil fraud charges today. The case, by the Securities and Exchange Commission (SEC), alleges Mozilo profited $140m from insider trading. The SEC charges Mozilo with "deliberately misleading investors about the significant credit risks being taken in efforts to build and maintain the company's market share" -- along with former COO David Sambol and former CFO Eric Sieracki.
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Questions Remain at NovaStar

(Update 1: clarifies questions outlined in firm's SEC filing) NovaStar Financial, the one-time mega subprime lender, is continuing to face questions about its future, according to a 10-K filed Wednesday with the Securities and Exchange Commission.
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Countrywide's Mozilo May Face SEC Charges

The Securities and Exchange Commission (SEC) may soon bring civil fraud charges against Angelo Mozilo, co-founder of Countrywide Financial, which folded into the Bank of America [stock BAC][/stock] name as part of the recent mortgage operations rebranding initiatives there.
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