Word: sec
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Dates: during 1980-1989
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...Jersey investment adviser, pleaded guilty to grand larceny after writing a series of bad checks. That was just one of four such brushes he had with the law, which, in the eyes of the Securities and Exchange Commission, made him unfit to publish the Lowe Investment & Financial Letter. The SEC in 1981 revoked Lowe's registration as an investment adviser and went to court to stop publication of his newsletter. Undeterred, Lowe kept publishing...
After four years of legal wrangling, the U.S. Supreme Court settled the issue last week, ruling in favor of Lowe by a vote of 8 to 0. The court said that the 1940 law requiring investment advisers to be registered by the SEC was not intended to apply to those who merely publish tips. The decision will shackle the SEC in its efforts to regulate financial newsletters, which are proliferating as fast as takeover bids on Wall Street. Many news organizations, which thought the SEC was tampering with freedom of the press, supported the ruling...
Lowe's business has flourished despite his battle with the SEC. During the dispute, he says, the number of subscribers to his newsletter nearly doubled, to about...
...episode involved Paul Thayer, the former businessman who became Deputy Secretary of Defense under President Reagan. While chairman of LTV and a member of the boards of Anheuser-Busch and Allied, Thayer passed to friends information about acquisitions that those companies were planning to make. Thayer later lied to SEC officials about his actions and last month received a four-year prison sentence for obstructing justice...
...fast lane, but last week Danny Sullivan was driving there, as he survived a harrowing 360 degrees spinout to win the Indianapolis 500. "I've had spins before, and I've gotten away with some of them," he said a few days after smoking to victory 2.5 sec. ahead of Mario Andretti. A sometime magazine model and former New York City taxi driver, Sullivan, 35, popped up in Manhattan for a post-Indy lap in a cab. He complains that his go-go playboy image is blown out of proportion. "Everyone talks about the glamour life of racing," he says...