Word: sec
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Dates: during 2000-2009
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...early warning, but ultimately it failed to foil the plot. Her account will delight those more interested in the scam than in the man. Arvedlund goes down the list of entities that were on notice about Madoff's "trading," and she holds particular contempt for the all-but-absent SEC ("one of the most dysfunctional and inept periods in the commission's history"). Also in her sights: Fairfield Greenwich, a tony hedge fund that funneled more than $7 billion into Madoff's pockets, and J. Ezra Merkin, a major-league Manhattan investor who received a staggering $470 million in fees...
Mournfully, Kirtzman tells the story of Harry Markopolos, a flawed whistle-blower who tracked Madoff's misdeeds for almost a decade. An eccentric math genius, Markopolos waved his findings in the face of the SEC--he gave them a pointed memo in 2005 that was titled "The World's Largest Hedge Fund Is a Fraud," but also made it clear that he wanted a reward for his efforts. Maybe the SEC should have paid him--it could have saved billions...
...lied to the SEC under oath at Madoff's direction," said DiPascali. He then apologized: "I know my apology means nothing, but I hope my actions moving forward mean something and bring some measure of comfort to those I hurt...
...tense meeting, first reported by the Wall Street Journal, took place at the Treasury department Friday afternoon and was attended by top regulators from all the major oversight bodies, including the FDIC, the Office of the Comptroller of the Currency, the SEC, the Commodities Futures Trading Commission, the Fed and others. As he talked about the state of the Administration's proposal introduced last spring, Geithner started swearing about the need for regulatory reform to move forward. "There was liberal use of expletives," says an official briefed on the meeting. "Obviously it made some people uncomfortable." (See 25 people...
...Securities & Exchange Commission (SEC), concerned about the exponential growth of hyper-frequency trading, announced on Tuesday, Aug. 4, that it was considering a ban on one form of this activity, known as flash trading. But it has said nothing about an even bigger element of high-frequency trading, known as co-location, even as the New York Stock Exchange (NYSE) is building two new facilities to house such traders...