Billionaire Steven A. Cohen’s firm said the U.S. Securities and Exchange Commission’s administrative proceeding against him has been delayed until at least early June, according to a memo sent to employees today.
A trial attorney from the Securities and Exchange Commission said his bosses were too “tentative and fearful” to bring many Wall Street leaders to heel after the 2008 credit crisis, echoing the regulator’s outside critics.
A majority of private-equity firms inflate fees and expenses charged to companies in which they hold stakes, according to an internal review by the U.S. Securities and Exchange Commission, raising the prospect of a wave of sanctions by the agency.
Deutsche Bank AG is weighing whether to refrain from working on China General Nuclear Power Group’s initial public offering amid a probe into hiring practices in Asia, three people with knowledge of the matter said.
The technological arms race among professional equity traders threatens to destabilize U.S. markets and more should be done to limit their speed, according to New York Attorney General Eric Schneiderman.
Puerto Rico’s record $3.5 billion debt sale was structured to keep out individual investors with less than $100,000 to spend. Those buyers have found a way in, lured by the biggest rally in high-yield municipal bonds in five years.
The U.S. Securities and Exchange Commission is conducting a formal inquiry into an online gambling website’s Bitcoin-denominated stock sale after the agency signaled that such dealings may break U.S. laws.