Lumping all speed traders together as predators and saying they rig the stock market exaggerates the hazards faced by investors, according to Arthur Levitt, who oversaw the Securities and Exchange Commission in the 1990s.
U.S. regulators failed to act on “a gift” of a tip from Paulson & Co. Inc. that a major brokerage had approached the hedge fund to solicit help in a scheme to manipulate markets, former Securities and Exchange Commission Chairman Harvey Pitt said.
Former U.S. Securities and Exchange Commission Chairman Arthur Levitt , once disinvited from joining Apple Inc.’s board amid differences over corporate governance, said the company has disclosed enough about Steve Jobs ’s health.
Wall Street hiring in Asia is coming under increasing scrutiny in the wake of a U.S. criminal investigation into whether JPMorgan Chase & Co. employed children of China’s elite in violation of anti-bribery laws.
U.S. Securities and Exchange Commission Chairman Mary Schapiro’s abandonment of her quest to impose tougher rules on money-market mutual funds is a “national disgrace,” said former SEC Chairman Arthur Levitt.
Goldman Sachs Group Inc. should stop promoting itself as “putting customers first” because the slogan ignores conflicts inherent in trading, said Arthur Levitt, the former Securities and Exchange Commission chairman and a senior adviser to the firm.