The Securities and Exchange Commission will harm mutual funds should it force private venues known as dark pools to immediately announce they have executed orders, according to two former officials at the agency.
Mark Cuban’s “desire to win, that competitive edge that makes him successful,” led the billionaire owner of the Dallas Mavericks to illegally sell stock on an insider tip, a U.S. lawyer told a federal jury.
A Deutsche Bank AG employee said clients never like to know how they were “screwed” in an e- mail concerning a 2007 swap deal that is at the center of a U.K. court fight over whether banks can be sued for manipulation of benchmark interest rates.
The U.S. Securities and Exchange Commission, criticized by lawmakers for failing to stop practices that fueled the financial crisis, raised concerns as early as 2006 about the risks of Wall Street’s appetite for packaging mortgages into bonds.
President Barack Obama may nominate Daniel M. Gallagher , a former Securities and Exchange Commission official, as one of the watchdog’s five commissioners, said two people familiar with the appointment.