The U.S. Supreme Court accepted a case with the potential to transform securities litigation, agreeing to reconsider a precedent that has served as the foundation for shareholder suits for the past 25 years.
The Securities Investor Protection Corp., an industry fund that covers losses from brokerage firm failures, must compensate victims of Allen Stanford’s $7 billion Ponzi scheme because they were customers of a U.S.-based brokerage, a government lawyer told an appeals court.
Former Securities and Exchange Commission member Paul Atkins resigned from the congressional panel overseeing the Troubled Asset Relief Fund, becoming the fourth Republican to leave the panel since its creation in 2008.
The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory yet in fulfilling a pledge to force wrongdoers to admit guilt.
Using a secret enforcement tool, federal regulators in 2005 tried to limit the growth of Vineyard Bank, which was making commercial real estate loans in Southern California at almost double the rate of its peers.
Securities and Exchange Commission member Daniel Gallagher says the Federal Reserve is pushing even deeper onto his agency’s turf than Congress intended when it rewrote the rules of financial regulation three years ago.
Elisse Walter, who has spent the past four years as Securities and Exchange Commission Chairman Mary Schapiro’s closest confidant and behind-the-scenes adviser, will soon step into the spotlight that she has mostly shunned in trying to help her close friend succeed.
U.S. derivatives regulators approved restrictions on how brokers can invest customer funds, acting on a delayed rule after as much as $1.2 billion went missing before MF Global Holdings Ltd. sought bankruptcy protection.
Berkshire Hathaway Inc. former manager David Sokol exercised poor judgment yet may not have broken insider-trading laws by buying stock in a company he later proposed as a takeover target to Chairman Warren Buffett , legal experts said.
Mary Schapiro will step down next month as U.S. Securities and Exchange Commission chairman, turning over the reins to Commissioner Elisse Walter in a move industry observers say will bring little change at the agency.