SEC

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  Barney Frank Introduces Bill to Merge SEC and CFTC

  By Melanie Waddell, AdvisorOne  |  November 29, 2012

  Frank, who introduced the legislation with Rep. Mike Capuano, D-Mass., said that "now that the basic policies have been adopted to cover security and derivatives regulation, we can focus on the structural issue” of merging the two agencies.

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  Obama Names SEC’s Walter as Schapiro’s Replacement

  By Melanie Waddell, AdvisorOne  |  November 26, 2012

  While Elisse Walter, an SEC commissioner, was selected by President Obama to succeed Schapiro, industry officials speculated that Walter will serve as an acting chairman until the president selects a permanent chairman at a later date.

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  J.P. Morgan, Credit Suisse to Pay Combined $400 Million Settlement for RMBS Violations

  By Melanie Waddell, AdvisorOne  |  November 16, 2012

  The 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...

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  BP to Pay $4.5 Billion in Gulf Spill; SEC Levies Huge Penalty

  By Marlene Y. Satter, AdvisorOne  |  November 15, 2012

  British oil company BP agreed Thursday to pay $4.5 billion to the U.S. in fines and other charges, including $525 million to the SEC–the third largest penalty ever assessed by the SEC–over the oil spill in the Gulf of Mexico.

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  SEC Socks MassMutual With $1.6 Million VA Penalty

  By Melanie Waddell, AdvisorOne  |  November 15, 2012

  The SEC on Thursday charged Massachusetts Mutual Life Insurance Co. with securities law violations for failing to sufficiently disclose the potential negative impact of a “cap” it placed on a complex investment product that investors were planning to use for retirement.

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  SEC, DOJ Release Foreign Corrupt Practices Act Guide

  By Melanie Waddell, AdvisorOne  |  November 14, 2012

  The Securities and Exchange Commission and the Department of Justice released Wednesday A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act and closely examines the SEC and DOJ approach to FCPA enforcement.

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  Bruce Bent Cleared in SEC Fraud Charges

  By Melanie Waddell, AdvisorOne  |  November 13, 2012

  Bruce Bent, founder of the first money market fund, was cleared of fraud charges Monday after the SEC alleged that he deceived investors leading up to the Primary Reserve Fund “breaking the buck.”

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  SEC Fines NYSE for Giving Proprietary Customers Head Start on Market Data

  By Joyce Hanson, AdvisorOne  |  September 14, 2012

  NYSE Euronext agreed to a $5 million penalty for sending market data to proprietary customers' feeds before broadcasting it publicly, becoming the first exchange to pay an SEC fine.

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  New York Appeals Court Gives SEC-Citigroup Deal New Life

  By Larry Neumeister, Associated Press  |  March 16, 2012

  A federal appeals court said Judge Rakoff likely overstepped his authority when he blocked the SEC's $285 million settlement with Citi over toxic mortgage securities.

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  SEC Adds 130 Examiners for ‘Priority’ Areas: Exam Chief di Florio

  By Melanie Waddell, AdvisorOne  |  March 15, 2012

  Carlo di Florio, director of OCIE, told CCOs that the SEC has hired 130 new examiners over the last 18 months and that the agency is focusing on three 'priority' areas when it comes to advisory firms.