Michael Oxley , the former congressman who co-wrote the Sarbanes-Oxley Act of 2002, has registered as a lobbyist for the Financial Industry Regulatory Authority to promote self-regulation of investment advisers.
Lawmakers who say moribund trading in smaller companies limits access to capital have proposed rolling back penny pricing in some U.S. equities. Executives and some of the biggest money managers say it’s not the answer.
Another financial scandal. Another cover-up by regulators. Four years ago, inspectors for the auditing industry's chief watchdog discovered that KPMG LLP had let Motorola Inc . record revenue during the third quarter of 2006 from a transaction with Qualcomm Inc., even though the final contract wasn’t signed until the early hours of the fourth quarter. That’s no small technicality. Without the deal, Motorola would have missed its third-quarter earnings target.
Global regulators will develop international rules for so-called shadow banks by the middle of the year to ensure companies from hedge funds to securities brokers aren’t excluded from efforts to prevent another crisis.
The U.S. Securities and Exchange Commission is divided over when to seize pay from executives who unwittingly benefit from accounting fraud, a rift that has triggered internal disagreements over cases, according to people with direct knowledge of the matter.