SEC News

JPMorgan Guilty Admission Marks Shift in SEC Policy

The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory yet in fulfilling a pledge to force wrongdoers to admit guilt. As part …

House Pushes for More Economic Analysis of Securities Rules

A divided U.S. House of Representatives on Friday passed a Republican-sponsored bill that would force federal securities regulators to conduct more economic analysis before adopting rules for Wall Street. The bill, which is not expected to make it to the …

Supreme Court Limits When SEC Can Levy Fraud Penalties

The U.S. Supreme Court on Wednesday limited the authority of the federal government’s top securities regulator to seek civil penalties over conduct that occurred more than five years before investigators took action. The nine-member court held on a unanimous vote …

President Obama to Nominate White to Head SEC, Renominate Cordray for Consumer Bureau

President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, the White House said on Thursday, showing a desire to have a tough cop policing Wall Street. White, the former U.S. attorney …

Former Brooke Corp. Execs Again Indicted on Financial Fraud Charges

Two former executives of the now defunct insurance agency franchising firm, Brooke Corp., have been indicted on federal financial fraud charges, according to the U.S. Attorney’s Office in Kansas. A federal grand jury in mid-November charged Robert D. Orr of …

Judge Lets Claim Against U.S. Over Stanford Ponzi Scheme Go Ahead

A lawsuit claiming U.S. securities regulators were negligent in failing to respond earlier to Allen Stanford’s $7 billion Ponzi scheme can go forward for now, a federal judge ruled in Florida on Friday. U.S. District Judge Robert Scola rejected the …

SEC, Citgroup May Win Appeal in Mortgage Fraud Case

A federal appeals court stopped just short of throwing out a judge’s controversial rejection of the U.S. Securities and Exchange Commission’s $285 million fraud settlement with Citigroup Inc over mortgage investments. The 2nd U.S. Circuit Court of Appeals chastised U.S. …

SEC Weighs Exempting Insurance Companies from Volcker Rule

The top U.S. securities regulator said on Tuesday her agency is exploring whether insurance companies can qualify for a coveted exemption in the proposed Volcker rule that would protect them from having to scale back their investments in hedge funds. …

Major Companies Keeping Cyber Attacks Secret from SEC, Investors: Report

At least a half-dozen major U.S. companies whose computers have been infiltrated by cyber criminals or international spies have not admitted to the incidents despite new guidance from securities regulators urging such disclosures. Top U.S. cybersecurity officials believe corporate hacking …

SEC Sues Texas Life Settlements Firm, Alleges Deception

Federal securities regulators filed suit against a Texas-based provider of so-called “life settlements,” accusing it and three top executives of defrauding shareholders by overvaluing the life insurance policies it buys from its customers. In a statement, the Securities and Exchange …