(CNN Money) — Two billionaire brothers face federal fraud charges for selling stock in companies which they helped oversee and then trying to conceal some $550 million in gains. In a complaint issued late Thursday, the Securities and Exchange Commission said Sam and Charles Wyly attempted to hide their ownership and trading of stock in […]
(Bloomberg) — The U.S. Securities and Exchange Commission is examining a $600 million Build America Bond sale by the Metropolitan Water Reclamation District of Greater Chicago, said Richard Lanyon, executive director of the agency serving 5.3 million customers. The SEC asked the sewer district to provide documents related to the August debt issue, according to […]
Goldman Sachs' troubles could shed some new light on the course of financial reform.
(WashingtonPost.com) — Top SEC officials have undertaken what they describe as the most significant reform of the agency’s enforcement operations in nearly 40 years, pledging to bring big cases as never before. SEC Chairman Mary Schapiro and her hand-picked enforcement director, Robert Khuzami, have trumpeted measures designed to rapidly file major cases, send more lawyers to […]