The U.S. Securities and Exchange Commission on Thursday announced a new effort to identify and assess risks in the financial markets by recruiting financial industry professionals to serve in its Office of Risk Assessment.The SEC said that its new Industry and Markets Fellows Program will help the agency expand its ability to oversee complex industry […]
The U.S. Securities and Exchange Commission will hold a roundtable on May 5 to discuss whether short sale price test restrictions or short sale circuit breakers should be adopted, the regulator announced Friday.On April 8, the SEC voted to propose two approaches to restrictions on short selling — price test restrictions and circuit breakers. If […]
SEC seeks comments on short sale price test and circuit breaker restrictions
Scheme targeted Chinese-American community
The U.S. Securities and Exchange Commission has charged the auditors of Bernard Madoff’s broker-dealer firm with securities fraud over allegations that they claimed they conducted legitimate audits, when they had not, the regulator said Wednesday.In its complaint filed in federal court in Manhattan, the SEC alleges that from 1991 through 2008, certified public accountant David […]
The U.S. Securities and Exchange Commission has settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. over allegations that it let traders at other firms listen into its squawk boxes, the regulator said Wednesday.The SEC charged the firm with securities laws violations for having inadequate policies and procedures for controlling access to institutional customer […]
Review follows in wake of Madoff scandal
Firms agree to pay nearly US$70 million
The U.S. Securities and Exchange Commission is warning investors and financial services firms about con-artists who may use the names of actual SEC employees to mislead potential victims.The SEC said Monday that investors in the U.S. and other countries have been tricked into revealing private information, giving fraudsters access to their brokerage accounts, and even […]
Firm to pay $125,000 civil penalty for violating fair dealing, gifts and gratuities and supervisory rules