Word: sec
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...often paid--for honest advice. The Securities and Exchange Commission last week approved new rules meant to moderate the collaboration of bankers and analysts within brokerage firms. But some lawmakers and investor advocates view the rules as too little, too late and are calling for the resignation of SEC chairman Harvey Pitt...
...exploited the Street's insider-trading scandals as a federal prosecutor in New York City 15 years ago. And make no mistake: Spitzer is on to what has become an emotional issue for investors who want to see someone on their side. Long before he arrived, several institutions--the SEC, Congress, the New York Stock Exchange and the National Association of Securities Dealers--had looked for but failed to turn up hard evidence of what Spitzer asserts is criminal fraud. Few expect that anyone will go to jail. More likely, Merrill, which says the e-mails were taken...
Meanwhile, the industry absorbed a new set of SEC rules approved last week, which order that analysts' pay not be tied to specific transactions, that analysts not be permitted to share draft research reports with clients or prospective clients, and that analysts more visibly disclose conflicts of interest. There wasn't a peep of dissent on Wall Street, which, unhappy with Spitzer's bare-knuckled approach to reform, is openly begging for remedies from the industry-friendly SEC. Indeed, the big brokerages uniformly embraced a follow-up investigation the SEC announced two weeks ago, in hopes that Spitzer's state...
...real crime, securities lawyers say, is that while the problems were well documented, regulators did nothing until investors had lost billions of dollars. Only since Spitzer's investigation turned up blunt double-dealing by analysts has the SEC intensified its efforts, currently looking at other firms too, like Salomon, where telecom analyst Jack Grubman earned more than $10 million a year reeling in underwriting clients. That princely pay had nothing to do with his stock advice. Grubman rated the disastrous stock WorldCom a strong buy until mid-March, although it was down 88% from its June 1999 peak. Salomon--which...
...Lots of buzz at BEA about "Take on the Street: What Wall Street and Corporate America Don't Want You to Know and How You Can Fight Back" by former SEC Chairman Arthur Levitt Jr. (Pantheon; October). The word is that 60 Minutes is interested...