The U.S. Securities and Exchange Commission is asking whether banks are adequately explaining the risks of exchange-traded notes, a step toward its first new guidance for the market in almost eight years, according to people familiar with the matter.
As entrepreneurs and venture capitalists swilled beer and swapped business cards at a technology conference in Austin, Texas, Kevin Callahan hunkered down March 9 for a closed-door meeting with Senator Jerry Moran.
R. Allen Stanford, the indicted financier, sued U.S. prosecutors and agents of the FBI and Securities and Exchange Commission, accusing them of “abusive law enforcement” and seeking $7.2 billion in damages.
Citigroup Inc. failed yesterday to win a judge’s approval to pay $75 million to settle with the U.S. Securities and Exchange Commission over claims the bank misled investors by understating subprime-related holdings.
In the end, billionaire Steven Cohen, one of the most successful hedge-fund managers of his generation, could end up getting banned from the business he dominated for an error of omission, not commission.
Ebix Inc., the insurance software company that said it was targeted by short sellers last year, is being investigated by the U.S. Securities and Exchange Commission for its accounting practices, four people with direct knowledge of the probe said.