Several U.S. Supreme Court justices seemed to question Monday whether the president had enough authority over an agency that polices auditors of public companies. During arguments to consider if the Public Company Accounting Oversight Board violates the U.S. Constitution, the …
The Supreme Court hears a case on Monday that could alter how corporate America is audited and overhaul the Sarbanes-Oxley corporate reform act. The outcome of the case will determine whether a central component of the Sarbanes-Oxley law — an …
Credit rating agencies, accused of assigning top ratings to shoddy securities, would be exposed to greater liability under a wide-ranging financial services reform bill released by a leading U.S. senator. The draft bill unveiled last Tuesday would give investors an …
The former head of compliance overseeing Moody’s Corp.’s credit ratings business was routinely ignored when he warned that the firm was not properly monitoring municipal bond ratings, according to a letter obtained by Reuters Tuesday. Scott McCleskey, who is scheduled …
A U.S. House panel abruptly postponed a hearing into accusations that Moody’s Corp. knowingly issued incorrect ratings after Republicans demanded more time to review a whistleblower’s complaint. Democratic leaders of the House Oversight and Government Reform Committee had planned to …
Wall Street’s top cop has a lot to prove and it’s been taking no prisoners. After enduring a thorough thrashing for its supervision of the now-defunct Bear Stearns and missing Bernard Madoff’s $65 billion fraud, the Securities and Exchange Commission …
Congress must consider radical reforms to improve the accountability and reliability of credit rating agencies like Moody’s Corp. and McGraw-Hill Cos. Inc.’s Standard & Poor’s, a top U.S. lawmaker said Friday. Representative Paul Kanjorski, a senior Democrat on the House …
U.S. securities regulators are looking at ways to rely less on credit ratings and prevent issuers from shopping for their ratings, Securities and Exchange Commission Chairman Mary Schapiro told lawmakers Tuesday. Schapiro also said increasing the liability standard could improve …
The Obama administration plans to detail as soon as this week new measures to clamp down on potential conflicts of interest between compensation consultants and corporate executives, sources familiar with the administration’s thinking told Reuters Wednesday. The administration is considering …
The top U.S. accounting rulemaker denounced the “politicization” of accounting standards on Friday, three months after he was pressured by Congress to make changes that would help banks’ results. Financial Accounting Standards Board Chairman Robert Herz said lobbying by special …
