Word: sec
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...SEC originally allowed Genentech's junior stock because, like other equities, it involved some risk on the employee's part. If the company failed to meet its performance goals, the employee would be forbidden to convert the junior stock to common shares. Thus the worker would make no money on the deal. But some firms set standards so low that their junior-stock plans became giveaways. Admits Palo Alto Attorney Lee Benton, a proponent of the stock: "Some companies took it further than it was ever intended...
...SEC has brought over 50 suits involving insider trading in the past 21/2 years. That is more than the total number started by the agency in the preceding 47 years. Says Enforcement Director John Fedders, who heads a 591-member team: "You're going to continue to see a lot of action from us. We want the market to know that the cop is on the beat...
...make the cop tougher, the SEC is asking Congress to stiffen the penalties for illegal insider trading. Those convicted in civil cases now receive wrist-slap sanctions that merely bar them from further misuse of information and make them relinquish their profits. A House-passed version of the SEC measure would impose fines of up to three times the gains made from illicit transactions...
...Fedders and his boss, SEC Chairman John Shad, are cautious about a separate insider trading proposal before the Senate. Sponsored by New York Republican Alfonse D'Amato, it would strengthen penalties but also greatly broaden the legal definition of persons considered to be insiders. While that group is now limited to such individuals as company executives and major shareholders, the D'Amato proposal could apply to anyone from a secretary to a board chairman to a journalist who had inside information about a company. Last week Fedders warned Senators that a squabble over definitions could delay or even...
TIME, which like the Wall Street Journal has a clear policy on conflict of interest, has had only one known case of an employee who violated the policy in 61 years of publication. In 1963, the SEC found that a former TIME business editor had bought stocks of firms shortly before articles about them appeared in the magazine...