http://www.sec.gov/news/press.shtml The latest press releases from the Securities and Exchange Commission en-us Fri, 10 Oct 2008 00:00:01 EDT Fri, 10 Oct 2008 14:40:27 EDT http://www.sec.gov/news/press/2008/2008-249.htm The Securities and Exchange Commission today announced the selection of Dr. Amy Edwards as Assistant Chief Economist for Markets and Intermediaries in the agency's Office of Economic Analysis. 2008-249 Fri, 10 Oct 2008 14:40:27 EDT http://www.sec.gov/news/press/2008/2008-248.htm The Securities and Exchange Commission today charged two former senior executives at Duane Reade with fraud for orchestrating multi-million dollar accounting schemes that caused the company to inflate its reported earnings and overstate its net income. Duane Reade is the operator of the largest chain of drug stores in the New York Metropolitan area. 2008-248 Thu, 09 Oct 2008 15:07:54 EDT http://www.sec.gov/news/press/2008/2008-247.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with Banc of America Securities LLC and Banc of America Investment Services, Inc. (collectively, Bank of America) that would provide 5,500 individual investors, small businesses, and small charities the opportunity to sell back to Bank of America up to $4.7 billion in auction rate securities (ARS) they purchased before the ARS market collapsed in February 2008. 2008-247 Wed, 08 Oct 2008 12:30:17 EDT http://www.sec.gov/news/press/2008/2008-246.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with RBC Capital Markets Corp. (RBC) that would provide individual investors, small businesses, small nonprofits, charities and religious organizations the opportunity to sell back to RBC all of the auction rate securities (ARS) they purchased from RBC before the ARS market collapsed in February 2008. 2008-246 Wed, 08 Oct 2008 12:30:17 EDT http://www.sec.gov/news/press/2008/2008-244.htm The Securities and Exchange Commission today charged Beverly Hills, Calif.-based Lion Gate Capital, Inc. and its principal Kenneth Rickel with illegal short selling in the securities of 14 publicly traded companies. 2008-244 Tue, 07 Oct 2008 14:42:56 EDT http://www.sec.gov/news/press/2008/2008-243.htm The Securities and Exchange Commission today charged a former vice president at national home furnishing retailer Restoration Hardware with insider trading for tipping three friends that the company was about to be acquired, enabling them to make more than $900,000 in unlawful profits when public announcement of the subsequent merger caused the stock price to soar. 2008-243 Tue, 07 Oct 2008 13:56:08 EDT http://www.sec.gov/news/press/2008/2008-242.htm The Securities and Exchange Commission today announced additional details on the process and initial steps that the SEC has undertaken to conduct a study on "mark-to-market" accounting, as authorized by Sec. 133 of the Emergency Economic Stabilization Act of 2008, signed into law by President Bush last Friday. 2008-242 Tue, 07 Oct 2008 12:37:53 EDT http://www.sec.gov/news/press/2008/2008-241.htm The Securities and Exchange Commission today announced the agenda for Wednesday’s roundtable on providing more transparency to investors that will include discussion of lessons from the current credit crisis. 2008-241 Tue, 07 Oct 2008 10:55:08 EDT http://www.sec.gov/news/press/2008/2008-240.htm The Securities and Exchange Commission announced today that James L. Eastman has been named Chief Counsel and Associate Director in the Division of Trading and Markets. 2008-240 Mon, 06 Oct 2008 17:35:55 EDT http://www.sec.gov/news/press/2008/2008-238.htm The SEC's Division of Trading and Markets today made the following statement. 2008-238 Fri, 03 Oct 2008 17:18:13 EDT http://www.sec.gov/news/press/2008/2008-237.htm The Securities and Exchange Commission today charged five Los Angeles-area brokers with securities fraud, alleging that they put their customers at risk by refinancing their homes with subprime mortgages that they could not afford in order to fraudulently sell them unsuitable securities. 2008-237 Fri, 03 Oct 2008 16:11:22 EDT http://www.sec.gov/news/press/2008/2008-236.htm Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of James A. Clarkson as Acting Regional Director of the SEC's New York Regional Office. That office is responsible for the investigation and prosecution of enforcement actions and the performance of compliance inspections in the region. 2008-236 Fri, 03 Oct 2008 11:00:06 EDT http://www.sec.gov/news/press/2008/2008-235.htm The Commission has taken steps during recent weeks to address concerns regarding short sales in light of the ongoing credit crisis. These efforts relating to short sales have focused particularly on the securities of financial institutions whose health may have an impact on financial stability. The steps the Commission has taken are designed to ensure the continued smooth operation of orderly markets. Our actions have been taken in consultation with regulators of the major developed securities markets around the world, with whom we have coordinated in monitoring market reactions. 2008-235 Wed, 01 Oct 2008 19:45:53 EDT http://www.sec.gov/news/press/2008/2008-234.htm The current environment has made questions surrounding the determination of fair value particularly challenging for preparers, auditors, and users of financial information. The SEC's Office of the Chief Accountant and the staff of the FASB have been engaged in extensive consultations with participants in the capital markets, including investors, preparers, and auditors, on the application of fair value measurements in the current market environment. 2008-234 Tue, 30 Sep 2008 16:04:53 EDT http://www.sec.gov/news/press/2008/2008-233.htm The Securities and Exchange Commission today charged East Coast supermarket operator and wholesale food distributor The Penn Traffic Company with fraud for orchestrating multi-million dollar accounting schemes that inflated its operating income and overstated its after tax net income. 2008-233 Tue, 30 Sep 2008 11:43:13 EDT http://www.sec.gov/news/press/2008/2008-232.htm When fiscal year 2009 starts on Oct. 1, 2008, the Securities and Exchange Commission expects to be operating under a continuing resolution that will extend through March 6, 2009. During this period, fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e), 14(g) and 31 of the Securities Exchange Act of 1934 will remain at their current rates. 2008-232 Mon, 29 Sep 2008 17:00:07 EDT http://www.sec.gov/news/press/2008/2008-231.htm Securities and Exchange Commission Chairman Christopher Cox today released this statement on the SEC Inspector General reports on the Consolidated Supervised Entities program. 2008-231 Fri, 26 Sep 2008 14:55:08 EDT http://www.sec.gov/news/press/2008/2008-230.htm Securities and Exchange Commission Chairman Christopher Cox today announced a decision by the Division of Trading and Markets to end the Consolidated Supervised Entities (CSE) program, created in 2004 as a way for global investment bank conglomerates that lack a supervisor under law to voluntarily submit to regulation. Chairman Cox also described the agency's plans for enhancing SEC oversight of the broker-dealer subsidiaries of bank holding companies regulated by the Federal Reserve, based on the recent Memorandum of Understanding (MOU) between the SEC and the Fed. 2008-230 Fri, 26 Sep 2008 11:36:30 EDT http://www.sec.gov/news/press/2008/2008-229.htm The Securities and Exchange Commission today announced the completion of a nearly $32 million Fair Fund distribution to current and former customers of Ameriprise Financial Services, Inc. who were harmed by the firm's failure to adequately disclose revenue sharing payments from a select group of mutual fund companies. 2008-229 Thu, 25 Sep 2008 15:52:16 EDT http://www.sec.gov/news/press/2008/2008-228.htm The Securities and Exchange Commission today charged a Miami, Fla., resident for fraudulently operating an unregistered securities day trading firm that primarily targeted investors in the Hispanic community. 2008-228 Thu, 25 Sep 2008 15:20:02 EDT http://www.sec.gov/news/press/2008/2008-227.htm The Securities and Exchange Commission today charged Rancho Cordova, Calif.-based Telomolecular Corp. and two of its former executives for their roles in a stock scheme based on false claims to investors that the biotechnology start-up company was on the verge of financial and scientific success in developing anti-aging treatments and cancer cures. 2008-227 Thu, 25 Sep 2008 14:25:54 EDT http://www.sec.gov/news/press/2008/2008-226.htm The Securities and Exchange Commission today charged Rancho Cordova, Calif.-based Telomolecular Corp. and two of its former executives for their roles in a stock scheme based on false claims to investors that the biotechnology start-up company was on the verge of financial and scientific success in developing anti-aging treatments and cancer cures. 2008-226 Thu, 25 Sep 2008 14:21:13 EDT http://www.sec.gov/news/press/2008/2008-225.htm The Securities and Exchange Commission announced that a district court judge today granted its motion for summary judgment against the architect of a massive billion-dollar hedge fund fraud. 2008-225 Wed, 24 Sep 2008 15:59:05 EDT http://www.sec.gov/news/press/2008/2008-224.htm The Securities and Exchange Commission today charged a San Luis Obispo, Calif.-based investment adviser and its owner with fraud for failing to disclose a material conflict of interest when recommending that their clients invest in a hedge fund that made undisclosed subprime and other high-risk investments. 2008-224 Wed, 24 Sep 2008 15;45 EDT http://www.sec.gov/news/press/2008/2008-223.htm The Securities and Exchange Commission today announced a Fair Fund distribution of approximately $49 million to investors who were affected by improper market timing in mutual funds managed by Franklin Advisers, Inc. (Franklin) of the Franklin-Templeton Investments complex. 2008-223 Tue, 23 Sep 2008 17:00:07 EDT http://www.sec.gov/news/press/2008/2008-222.htm The Securities and Exchange Commission today issued an enforcement action against AmSouth Bank and AmSouth Asset Management (AmSouth) for defrauding AmSouth mutual funds by secretly using a portion of administrative fees paid by fund shareholders for marketing and other unrelated expenses that should have been paid by AmSouth itself. 2008-222 Tue, 23 Sep 2008 14:51:29 EDT http://www.sec.gov/news/press/2008/2008-221.htm The Securities and Exchange Commission today announced that chief compliance officers (CCOs) for mutual fund and investment advisers can begin registering for the agency's annual CCOutreach National Seminar to help them further enhance their compliance programs for the protection of investors. 2008-221 Tue, 23 Sep 2008 14:51:29 EDT http://www.sec.gov/news/press/2008/2008-220.htm As part of the Securities and Exchange Commission's third annual Seniors Summit held in Washington today, the staff of the SEC along with the Financial Industry Regulatory Authority (FINRA) and the North American Securities Administrators Association (NASAA) released a joint report outlining practices that financial services firms can use to strengthen their policies and procedures for serving older investors as they approach and enter retirement. 2008-220 Mon, 22 Sep 2008 14:33:12 EDT http://www.sec.gov/news/press/2008/2008-219.htm The Securities and Exchange Commission today charged a former broker in South Florida who allegedly defrauded senior citizens and other customers through a variety of abusive sales practices, garnering him more than $700,000 in commissions and fees while causing more than $2.7 million in investor losses. 2008-219 Mon, 22 Sep 2008 10:57:41 EDT http://www.sec.gov/news/press/2008/2008-218.htm The Commission has approved technical amendments to the Emergency Order banning short selling in financial stocks. 2008-218 Sun, 21 Sep 2008 23:00:30 EDT http://www.sec.gov/news/press/2008/2008-217.htm The U.S. Securities and Exchange Commission today approved amendments to its emergency order of September 18 (Release No. 58591) requiring that certain institutional money managers report their new short sales of certain publicly traded securities. 2008-217 Sun, 21 Sep 2008 18:00:30 EDT http://www.sec.gov/news/press/2008/2008-216.htm Statement of SEC Division of Trading and Markets Regarding the Protection of Customer Assets 2008-216 Sat, 20 Sep 2008 17:10:01 EDT http://www.sec.gov/news/press/2008/2008-215.htm Securities and Exchange Commission Chairman Christopher Cox announced that U.S. Bankruptcy Court Judge James M. Peck this morning approved the sale of substantially all of the assets of Lehman Brothers, Inc., to Barclays Capital. 2008-215 Sat, 20 Sep 2008 16:35:01 EDT http://www.sec.gov/news/press/2008/2008-214.htm The Securities and Exchange Commission today announced a sweeping expansion of its ongoing investigation into possible market manipulation in the securities of certain financial institutions. The expanded investigation will include obtaining statements under oath from market participants. 2008-214 Fri, 19 Sep 2008 17:56:59 EDT http://www.sec.gov/news/press/2008/2008-213.htm The Securities and Exchange Commission's Division of Trading and Markets today issued the following statement. 2008-213 Fri, 19 Sep 2008 16:01:26 EDT http://www.sec.gov/news/press/2008/2008-212.htm The Securities and Exchange Commission today charged an unregistered broker-dealer and his company, Loveland, Colo.-based Global Marketing Consultants LLC, with misappropriating funds from seniors and other investors through two investment schemes. 2008-212 Fri, 19 Sep 2008 14:42:15 EDT http://www.sec.gov/news/press/2008/2008-211.htm Commission Also Takes Steps to Increase Market Transparency and Liquidity 2008-211 Fri, 19 Sep 2008 01:42:47 EDT http://www.sec.gov/news/press/2008/2008-210.htm Securities and Exchange Commission Chairman Christopher Cox today made the following statement… 2008-210 Thu, 18 Sep 2008 16:16:33 EDT http://www.sec.gov/news/press/2008/2008-209.htm Securities and Exchange Commission Chairman Christopher Cox and SEC Enforcement Division Director Linda Chatman Thomsen issued the following statements today concerning ongoing and forthcoming Commission actions to investigate fraud and manipulation in the nation's securities markets: 2008-209 Wed, 17 Sep 2008 20:19:36 EDT http://www.sec.gov/news/press/2008/2008-208.htm The Securities and Exchange Commission today filed settled charges against Igal Kohavi, Yair Shamir, and Giora Yaron, three former outside directors of California-based software maker Mercury Interactive, LLC. The SEC's complaint alleges that the outside directors recklessly approved backdated stock option grants, and reviewed and signed public filings that contained materially false and misleading disclosures about the company's stock option grants and company expenses. 2008-208 Wed, 17 Sep 2008 13:26:59 EDT http://www.sec.gov/news/press/2008/2008-207.htm The Securities and Exchange Commission today announced the final agenda for the afternoon session of its Seniors Summit for financial services professionals who want to learn firsthand how to effectively deal with new emerging issues involved with managing the finances and investments of senior citizens. 2008-207 Wed, 17 Sep 2008 13:26:59 EDT http://www.sec.gov/news/press/2008/2008-206.htm Since the decision by Lehman Brothers Holdings, Inc. to file for bankruptcy protection on Sunday, Sept. 14, 2008, the Securities and Exchange Commission has moved swiftly to protect investors' securities and cash. Since Sunday, the SEC has worked closely with lawyers and representatives of Lehman, Barclays, and other interested parties, as well as other U.S. and international regulators, including the U.K. Financial Services Authority, to arrange for the orderly transfer of customer accounts. The announcement that Barclays Capital plans to acquire the business and assets of Lehman Brothers, Inc., the U.S. brokerage arm of the consolidated holding company will, if approved by the U.S. bankruptcy court, provide for the resolution of all of Lehman Brothers, Inc.'s U.S. operations. 2008-206 Wed, 17 Sep 2008 11:29:39 EDT http://www.sec.gov/news/press/2008/2008-205.htm The Securities and Exchange Commission’s Office of the Chief Accountant clarified that bank support of money market mutual funds generally does not result in a requirement to present the fund on-balance sheet. As a result of recent market events, it is possible that some money market funds could become exposed to declines in the credit worthiness of troubled assets. To protect investors’ principal investment in these funds, sponsoring financial institutions can provide various types of financial support. 2008-205 Wed, 17 Sep 2008 10:09:29 EDT http://www.sec.gov/news/press/2008/2008-204.htm The Securities and Exchange Commission today took several coordinated actions to strengthen investor protections against "naked" short selling. 2008-204 Wed, 17 Sep 2008 10:09:29 EDT http://www.sec.gov/news/press/2008/2008-203.htm The Securities and Exchange Commission today charged San Francisco-area investment adviser Cornerstone Capital Management, Inc. for misrepresenting the value of its clients' investments in what turned out to be a series of Ponzi schemes. 2008-203 Tue, 16 Sep 2008 12:06:09 EDT http://www.sec.gov/news/press/2008/2008-202.htm The Securities and Exchange Commission today charged an Irvine, Calif., attorney and two other promoters for conducting a $52.7 million Ponzi scheme in which they sold investors bogus PIPE (private investment in public equity) investments, promised unrealistic profits, and misappropriated more than $20 million of investors' funds to function as their own personal piggy bank. 2008-202 Mon, 15 Sep 2008 16:45:15 EDT http://www.sec.gov/news/press/2008/2008-201.htm The Securities and Exchange Commission today charged the former chairman and CEO of Los Angeles-based home builder KB Home, Inc., for his participation in a multi-year scheme to backdate stock options to himself and other company officers and employees, depriving investors of accurate information about executive compensation at the company. 2008-201 Mon, 15 Sep 2008 14:50:08 EDT http://www.sec.gov/news/press/2008/2008-200.htm The Securities and Exchange Commission today charged Kansas City-based American Italian Pasta Company (AIPC) and its former senior executives for engaging in a fraudulent accounting scheme to artificially increase the company's stock price and mislead investors about the company's earnings. 2008-200 Mon, 15 Sep 2008 13:26:33 EDT http://www.sec.gov/news/press/2008/2008-199.htm The Securities and Exchange Commission today began accepting filings of Form D through the Internet as part of the agency's overall efforts to reduce unnecessary paper filings and regulatory burdens, particularly for smaller companies. 2008-199 Mon, 15 Sep 2008 12:46:16 EDT http://www.sec.gov/news/press/2008/2008-198.htm The decision by Lehman Brothers Holdings Inc. to file for protection under Chapter 11 of the bankruptcy laws is expected to lead to the winding down of Lehman Brothers Inc., its U.S. regulated broker-dealer, outside of bankruptcy. 2008-198 Mon, 15 Sep 2008 08:15:18 EDT http://www.sec.gov/news/press/2008/2008-197.htm The Securities and Exchange Commission announced this evening that it has taken actions to ensure that customers of Lehman Brothers Inc., the U.S. regulated broker-dealer subsidiary of Lehman Brothers Holdings Inc., will not be adversely affected by recent market events. 2008-197 Sun, 14 Sep 2008 21:45:10 EDT http://www.sec.gov/news/press/2008/2008-196.htm Senior representatives of major financial institutions are meeting at the Federal Reserve Bank of New York Friday evening to discuss recent market conditions. Also participating in the meeting are Treasury Secretary Henry M. Paulson, Jr., U.S. Securities and Exchange Commission Chairman Christopher Cox, and Federal Reserve Bank of New York President Timothy F. Geithner. 2008-196 Fri, 12 Sep 2008 21:16:11 EDT http://www.sec.gov/news/press/2008/2008-195.htm Securities and Exchange Commission Chairman Christopher Cox today applauded the U.S. House of Representatives for passing legislation that would provide new investor protection measures and further bolster the SEC's enforcement program that already is recognized as the world's most effective and successful in policing the markets and protecting investors. 2008-195 Thu, 11 Sep 2008 15:44:26 EDT http://www.sec.gov/news/press/2008/2008-194.htm The Securities and Exchange Commission today announced that Mark K. Schonfeld, the Director of the New York Regional Office, will conclude 12 years of dedicated service when he leaves the agency at the end of September to become a partner at the law firm of Gibson, Dunn & Crutcher, where he will be co-head of the Securities Enforcement Defense practice and a member of the White Collar Defense, Investigations and Crisis Management practices. 2008-194 Thu, 11 Sep 2008 14:17:41 EDT http://www.sec.gov/news/press/2008/2008-193.htm The Securities and Exchange Commission today took an enforcement action against LPL Financial Corporation for failing to adopt policies and procedures to safeguard their customers' personal information, leaving at least 10,000 customers vulnerable to identity theft following a series of hacking incidents involving LPL's online trading platform. 2008-193 Thu, 11 Sep 2008 12:17:17 EDT http://www.sec.gov/news/press/2008/2008-192.htm The Securities and Exchange Commission today announced the promotion of Michael Dicke to Associate Regional Director for Enforcement in the agency's San Francisco Regional Office. Mr. Dicke will lead a large staff of attorneys, accountants and other professionals who investigate and litigate federal securities law violations in Northern California, Oregon, Washington, Montana, Idaho, and Alaska. 2008-192 Wed, 10 Sep 2008 12:47:38 EDT http://www.sec.gov/news/press/2008/2008-191.htm The Securities and Exchange Commission today charged three former senior executives of Embarcadero Technologies, Inc., alleging that they fraudulently backdated stock option grants to employees at the San Francisco business software company and reported false financial information to shareholders. 2008-191 Tue, 9 Sep 2008 13:31:08 EDT http://www.sec.gov/news/press/2008/2008-190.htm The Securities and Exchange Commission today charged one of the world's largest equipment rental companies, United Rentals, Inc. (URI), with engaging in fraudulent transactions to meet company earnings forecasts and analyst expectations. The SEC also charged the company with a broad range of other improper accounting practices. 2008-190 Mon, 8 Sep 2008 15:11:56 EDT http://www.sec.gov/news/press/2008/2008-189.htm The Securities and Exchange Commission today charged former Kellogg, Brown & Root, Inc. (KBR) executive Albert Jackson Stanley with violating the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA) and related provisions of the federal securities laws. The Commission alleges that over a 10-year period, Stanley and others participated in a scheme to bribe Nigerian government officials in order to obtain construction contracts worth more than $6 billion. The contracts were awarded to a four-company joint venture of which The M.W. Kellogg Company, and later KBR, was a member. 2008-189 Wed, 3 Sep 2008 16:14:57 EDT http://www.sec.gov/news/press/2008/2008-188.htm The Securities and Exchange Commission today announced the appointment of Paul A. Beswick as Deputy Chief Accountant for Professional Practice in the agency's Office of the Chief Accountant. Previously, Mr. Beswick served as a senior advisor to the SEC's Chief Accountant. 2008-188 Wed, 3 Sep 2008 16:14:57 EDT http://www.sec.gov/news/press/2008/2008-187.htm The Securities and Exchange Commission today charged two Wall Street brokers with defrauding their customers when making more than $1 billion in unauthorized purchases of subprime-related auction rate securities. 2008-187 Wed, 3 Sep 2008 10:49:01 EDT http://www.sec.gov/news/press/2008/2008-186.htm Securities and Exchange Commission Chairman Christopher Cox today announced that helping older investors make difficult decisions about their finances and learn new ways to protect their assets as they age will be the primary focus of the SEC's third annual Seniors Summit to be held at the agency's Washington, D.C., headquarters on September 22. 2008-186 Tue, 2 Sep 2008 15:25:22 EDT http://www.sec.gov/news/press/2008/2008-185.htm The Securities and Exchange Commission today charged a Colorado Springs resident with fraud for touting potentially astronomical returns to investors in his oil and gas companies while spending $2.3 million of investor funds to pay for a lavish lifestyle, including the purchase of a custom speedboat, ski vacations, fitness equipment, and jewelry. 2008-185 Thu, 28 Aug 2008 15:36:27 EDT http://www.sec.gov/news/press/2008/2008-184.htm The Securities and Exchange Commission today voted to publish for public comment a proposed Roadmap that could lead to the use of International Financial Reporting Standards (IFRS) by U.S. issuers beginning in 2014. Currently, U.S. issuers use U.S. Generally Accepted Accounting Principles (U.S. GAAP). The Commission would make a decision in 2011 on whether adoption of IFRS is in the public interest and would benefit investors. The proposed multi-year plan sets out several milestones that must be achieved before IFRS would be adopted in the United States. 2008-184 Wed, 27 Aug 2008 16:01:38 EDT http://www.sec.gov/news/press/2008/2008-183.htm The Securities and Exchange Commission today voted unanimously to update and modernize the disclosure requirements for foreign companies offering securities in U.S. markets, making it easier for U.S. investors to gain access to timely financial information that can help them make better informed investment decisions. 2008-183 Wed, 27 Aug 2008 14:50:15 EDT http://www.sec.gov/news/press/2008/2008-182.htm Securities and Exchange Commission Chairman Christopher Cox, the Australian Minister for Superannuation and Corporate Law — Senator Nick Sherry, and Australian Securities and Investments Commission (ASIC) Chairman Tony D'Aloisio today entered into a mutual recognition arrangement between the SEC, the Australian government, and ASIC. The mutual recognition arrangement provides a framework for the SEC, the Australian government, and ASIC to consider regulatory exemptions that would permit U.S. and eligible Australian stock exchanges and broker-dealers to operate in both jurisdictions, without the need for these entities (in certain aspects) to be separately regulated in both countries. 2008-182 Mon, 25 Aug 2008 11:43:01 EDT http://www.sec.gov/news/press/2008/2008-181.htm The Securities and Exchange Commission's Division of Enforcement today announced that a preliminary settlement in principle has been reached with Merrill Lynch, Pierce, Fenner & Smith, Inc. (Merrill Lynch) that would enable investors who purchased auction rate securities from the firm to receive a total of up to $7 billion to restore their losses and liquidity. 2008-181 Fri, 22 Aug 2008 15:32:08 EDT http://www.sec.gov/news/press/2008/2008-180.htm SEC Chairman Christopher Cox today issued the following statement regarding a decision in Free Enterprise Fund v. Public Company Accounting Oversight Board 2008-180 Fri, 22 Aug 2008 11:39:32 EDT http://www.sec.gov/news/press/2008/2008-179.htm Securities and Exchange Commission Chairman Christopher Cox today unveiled the successor to the agency's 1980s-era EDGAR database, which will give investors far faster and easier access to key financial information about public companies and mutual funds. 2008-179 Tue, 19 Aug 2008 11:00:09 EDT http://www.sec.gov/news/press/2008/2008-178.htm The Securities and Exchange Commission today announced the distribution of nearly $40 million to more than 600,000 investors who were harmed by undisclosed market timing and excessive short-term trading in certain mutual funds managed by Putnam Investment Management, LLC. 2008-178 Mon, 18 Aug 2008 13:00:13 EDT http://www.sec.gov/news/press/2008/2008-177.htm The Securities and Exchange Commission today distributed more than $18 million to more than 325,000 investors who were affected by undisclosed market timing in certain mutual funds managed by Janus Capital Management LLC (JCM). 2008-177 Fri, 15 Aug 2008 17:28:12 EDT http://www.sec.gov/news/press/2008/2008-176.htm The Securities and Exchange Commission's Division of Enforcement today announced that investors, small businesses, and charities who purchased auction rate securities through Wachovia Securities, LLC and Wachovia Capital Markets, LLC could receive up to $9 billion to fully restore their losses and liquidity through a preliminary settlement that has been reached with Wachovia. 2008-176 Fri, 15 Aug 2008 11:01:21 EDT http://www.sec.gov/news/press/2008/2008-175.htm The Securities and Exchange Commission announced today that it has obtained an emergency court order freezing the profits from an alleged $13 million international fraud involving a Seattle-area microcap company and a Barcelona stock promoter. 2008-175 Fri, 15 Aug 2008 11:01:21 EDT http://www.sec.gov/news/press/2008/2008-174.htm The Securities and Exchange Commission today announced that it has published for public comment an agreement among the securities self-regulatory organizations that is designed to improve detection of insider trading across the equities markets by centralizing surveillance, investigation, and enforcement under NYSE Regulation, Inc. (NYSE Regulation) and the Financial Industry Regulatory Authority, Inc. (FINRA). Currently, each equity exchange is responsible for surveillance of trading on its market and any investigations and enforcement actions involving its members. 2008-174 Wed, 13 Aug 2008 10:53:20 EDT http://www.sec.gov/news/press/2008/2008-173.htm The United States Securities and Exchange Commission today filed charges against Wextrust Capital, LLC (Wextrust), its principals, and four affiliated Wextrust entities, alleging that defendants conducted a massive Ponzi-type scheme from 2005 or earlier that raised approximately $255 million from approximately 1,200 investors. The targets of the fraudulent offerings are primarily members of the Orthodox Jewish community. Simultaneous with the filing of the action, the Commission is seeking emergency relief from the Court to freeze the defendants' assets and place the Wextrust entities under the control of a receiver to safeguard assets. The Commission is also seeking a temporary restraining order to stop the ongoing offerings and other immediate relief. 2008-173 Mon, 11 Aug 2008 11:54:39 EDT http://www.sec.gov/news/press/2008/2008-172.htm The Securities and Exchange Commission today announced the distribution of more than $48 million to more than 12,000 investors who were victims of fraudulent financial reporting by media conglomerate Vivendi Universal, S.A. Investors receiving checks reside in the United States and in 15 other countries. More than half bought heir Vivendi stock on foreign exchanges and are receiving their Fair Fund distribution in euros. 2008-172 Mon, 11 Aug 2008 10:32:42 EDT http://www.sec.gov/news/press/2008/2008-171.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with UBS Securities LLC and UBS Financial Services, Inc. (collectively, UBS) including proposed charges and a plan that would restore approximately $22 billion in liquidity to its customers who invested in auction rate securities (ARS). 2008-171 Fri, 8 Aug 2008 16:46:30 EDT http://www.sec.gov/news/press/2008/2008-170.htm The Securities and Exchange Commission staff today unveiled a new one-stop online reference site to assist mutual funds in their anti-money laundering (AML) compliance efforts, and launched a new centralized phone line specifically for securities firms to report the filing of a Suspicious Activity Report (SAR) that may require immediate attention by the Commission. 2008-170 Thu, 7 Aug 2008 14:38:55 EDT http://www.sec.gov/news/press/2008/2008-169.htm The Securities and Exchange Commission has charged six microcap companies, four company officers and several market professionals for their roles in a scheme to raise millions of dollars in capital through improperly registered stocks to fund the companies' struggling businesses. 2008-169 Thu, 7 Aug 2008 13:47:49 EDT http://www.sec.gov/news/press/2008/2008-168.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with Citigroup Global Markets, Inc. (Citi) including proposed charges and a plan that would give individual investors, small businesses, and charities all $7.5 billion of their money back from auction rate securities (ARS) they purchased from the firm. The agreement also would require Citi to use its best efforts to liquidate by the end of 2009 all of the approximately $12 billion worth of ARS the firm sold to retirement plans and other institutional investors. 2008-168 Thu, 7 Aug 2008 11:14:07 EDT http://www.sec.gov/news/press/2008/2008-167.htm Troy A. Paredes was sworn in this afternoon as a Commissioner of the Securities and Exchange Commission by SEC Chairman Christopher Cox during a ceremony at the SEC's Washington D.C. headquarters. 2008-167 Fri, 1 Aug 2008 16:45:23 EDT http://www.sec.gov/news/press/2008/2008-166.htm Securities and Exchange Commission Chairman Christopher Cox today received the final report of an SEC advisory committee containing 25 recommendations to make financial information more useful and understandable to investors. 2008-166 Fri, 1 Aug 2008 16:45:23 EDT http://www.sec.gov/news/press/2008/2008-165.htm SEC Announces Panelists, Agenda for August 4 Roundtable on Performance of IFRS, U.S. GAAP During Subprime Crisis 2008-165 Fri, 1 Aug 2008 15:09:17 EDT http://www.sec.gov/news/press/2008/2008-164.htm The Securities and Exchange Commission has obtained emergency relief to stop an allegedly fraudulent scheme that raised over $7.2 million from investors who were told the money would be used in a business shredding and recycling used tires. However, as alleged in the SEC's complaint, the tire shredding equipment did not work, there was no reasonable basis for Merklinger's income and return figures, and the investors never received a dime from their investment. 2008-164 Fri, 1 Aug 2008 10:52:48 EDT http://www.sec.gov/news/press/2008/2008-163.htm The Securities and Exchange Commission announced today that it has reopened the public comment period on a proposal intended to improve mutual fund disclosure, in order to allow comments on the results of investor testing. 2008-163 Thu, 31 Jul 2008 17:32:39 EDT http://www.sec.gov/news/press/2008/2008-162.htm The Securities and Exchange Commission announced today that Dr. Zoe-Vonna Palmrose will return to the University of Southern California as a Professor of Accounting in the Marshall School of Business and Leventhal School of Accounting, concluding her two years of successful public service as the agency's Deputy Chief Accountant for Professional Practice. 2008-162 Thu, 31 Jul 2008 14:20:23 EDT http://www.sec.gov/news/press/2008/2008-161.htm Luis A. Aguilar was sworn in today as a Commissioner of the Securities and Exchange Commission. 2008-161 Thu, 31 Jul 2008 12:42:02 EDT http://www.sec.gov/news/press/2008/2008-160.htm The Securities and Exchange Commission today voted unanimously to provide guidance to the boards of directors at investment companies about their investor protection responsibilities in overseeing investment advisers who trade fund portfolio securities and use so-called "soft dollars." 2008-160 Wed, 30 Jul 2008 19:00 EDT http://www.sec.gov/news/press/2008/2008-159.htm The Securities and Exchange Commission today voted unanimously to propose measures that would for the first time enable investors to easily access complete financial information about municipal bonds for free on the Internet. 2008-159 Wed, 30 Jul 2008 15:37:25 EDT http://www.sec.gov/news/press/2008/2008-158.htm The Securities and Exchange Commission today voted unanimously to provide new guidance to public companies about how to comply with the securities laws while developing their Web sites to serve as an effective means for disseminating important information to investors. 2008-158 Wed, 30 Jul 2008 15:37:25 EDT http://www.sec.gov/news/press/2008/2008-157.htm The Securities and Exchange Commission today charged New Hampshire-based Pax World Management Corp. with violating investment restrictions in socially responsible mutual funds that investors were told would not contain securities issued by companies involved with producing weapons, alcohol, tobacco or gambling products. 2008-157 Wed, 30 Jul 2008 11:09:55 EDT http://www.sec.gov/news/press/2008/2008-156.htm The Securities and Exchange Commission today charged E*Trade Clearing LLC and E*Trade Securities LLC (collectively, E*Trade) for failing to comply with an anti-money laundering rule that requires broker-dealers to verify the identities of their customers and document their procedures for doing so. 2008-156 Wed, 30 Jul 2008 10:50:35 EDT http://www.sec.gov/news/press/2008/2008-155.htm Securities and Exchange Commission Chairman Christopher Cox and U.S. Secretary of Labor Elaine L. Chao today agreed to make permanent their agencies' longstanding relationship of sharing information on retirement and investments to protect the $5.8 trillion in retirement assets of American workers, retirees and their families held in employee benefit plans by signing a Memorandum of Understanding (MOU) during a public ceremony in Washington. 2008-155 Tue, 29 Jul 2008 21:53:57 EDT http://www.sec.gov/news/press/2008/2008-154.htm Securities and Exchange Commission Chairman Christopher Cox and U.S. Secretary of Labor Elaine L. Chao today agreed to make permanent their agencies' longstanding relationship of sharing information on retirement and investments to protect the $5.8 trillion in retirement assets of American workers, retirees and their families held in employee benefit plans by signing a Memorandum of Understanding (MOU) during a public ceremony in Washington. 2008-154 Tue, 29 Jul 2008 14:11:29 EDT http://www.sec.gov/news/press/2008/2008-153.htm Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of William M. Schulz as Director of the agency's Office of Legislative and Intergovernmental Affairs. 2008-153 Tue, 29 Jul 2008 13:13:07 EDT http://www.sec.gov/news/press/2008/2008-152.htm The Securities and Exchange Commission announced today that Jonathan W. Burks, Director of the Office of Legislative and Intergovernmental Affairs, will leave the SEC on Aug. 1, 2008, to pursue graduate studies. Mr. Burks, who holds a bachelor's degree from the Georgetown University School of Foreign Service, has enrolled in the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University. 2008-152 Tue, 29 Jul 2008 13:13:07 EDT http://www.sec.gov/news/press/2008/2008-151.htm The Securities and Exchange Commission today charged Lou L. Pai, the former chairman and chief executive officer of Enron Energy Services (EES), a division of Enron Corp., with illegally selling hundreds of thousands of shares of Enron stock in May and June 2001 on the basis of material nonpublic information. 2008-151 Tue, 29 Jul 2008 12:39:39 EDT http://www.sec.gov/news/press/2008/2008-150.htm The Securities and Exchange Commission announced today that it will host a roundtable on Monday, August 4 to analyze the performance of International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (U.S. GAAP) during the recent period of market turmoil. 2008-150 Mon, 28 Jul 2008 17:29:15 EDT http://www.sec.gov/news/press/2008/2008-149.htm The Securities and Exchange Commission today filed an emergency action to freeze the assets of one or more unknown purchasers of the call options for the common stock of DRS Technologies, Inc. and American Power Conversion Corp., alleging that they reaped more than $3 million in profits by engaging in illegal insider trading through an account with UBS AG prior to public announcements related to acquisitions of those companies. 2008-149 Fri, 25 Jul 2008 16:19:25 EDT http://www.sec.gov/news/press/2008/2008-148.htm The Securities and Exchange Commission today filed fraud charges and obtained an emergency court order to stop a Hillsborough, Calif., investment adviser who is alleged to have misappropriated more than $20 million from investors who were falsely promised that their money would be invested in the stock market. 2008-148 Wed, 23 Jul 2008 16:59:39 EDT http://www.sec.gov/news/press/2008/2008-147.htm The Securities and Exchange Commission today charged an Ann Arbor, Mich.-based company and a former executive in an accounting fraud scheme that ultimately cost the company more than $437 million in market capitalization and caused its stock price to drop by more than half its value during a two-month period in early 2006. 2008-147 Tue, 22 Jul 2008 12:14:04 EDT http://www.sec.gov/news/press/2008/2008-146.htm The Securities and Exchange Commission staff today released a new ComplianceAlert letter identifying common deficiencies and weaknesses that SEC examiners have recently found during compliance examinations of firms that are registered with the SEC. The ComplianceAlert is intended to foster robust compliance in the securities industry by providing information about deficiencies and encouraging chief compliance officers to take steps to address any similar issues at their firms. 2008-146 Tue, 22 Jul 2008 11:06:51 EDT http://www.sec.gov/news/press/2008/2008-145.htm The Securities and Exchange Commission today announced that the Federal Home Loan Mortgage Corporation (Freddie Mac) has voluntarily registered its common stock under the Securities Exchange Act of 1934 and is now subject to the Act's periodic and current reporting requirements. 2008-145 Fri, 18 Jul 2008 13:19:32 EDT http://www.sec.gov/news/press/2008/2008-144.htm The Securities and Exchange Commission today charged the mayor of Beaufort, S.C., with insider trading on non-public information that he obtained while doing consulting work for a California biotechnology company. 2008-144 Wed, 16 Jul 2008 13:38:53 EDT http://www.sec.gov/news/press/2008/2008-143.htm The Securities and Exchange Commission today issued an emergency order to enhance investor protections against "naked" short selling in the securities of Fannie Mae, Freddie Mac, and primary dealers at commercial and investment banks. 2008-143 Tue, 15 Jul 2008 20:16:08 EDT http://www.sec.gov/news/press/2008/2008-142.htm The Securities and Exchange Commission announced today that Meridith Mitchell has been named the agency's Deputy General Counsel for Legal Policy and Administrative Practice. 2008-142 Mon, 14 Jul 2008 12:01:34 EDT http://www.sec.gov/news/press/2008/2008-141.htm The Securities and Exchange Commission's Division of Corporation Finance today announced the selection of Greg Burton as the Academic Accounting Fellow for a one-year term beginning this month. 2008-141 Mon, 14 Jul 2008 11:19:35 EDT http://www.sec.gov/news/press/2008/2008-140.htm The Securities and Exchange Commission today announced that the SEC and other securities regulators will immediately conduct examinations aimed at the prevention of the intentional spread of false information intended to manipulate securities prices. The examinations will be conducted by the SEC's Office of Compliance Inspections and Examinations, as well as the Financial Industry Regulatory Authority and New York Stock Exchange Regulation, Inc. 2008-140 Sun, 13 Jul 2008 12:00:00 EDT http://www.sec.gov/news/press/2008/2008-139.htm The Securities and Exchange Commission today announced that Wayne Strumpfer has been named to lead the investor education unit within the SEC's recently expanded Office of Investor Education and Advocacy. Mr. Strumpfer will be responsible for leading the SEC's efforts to help Americans of all ages better learn how to invest wisely and avoid costly mistakes and financial scams. 2008-139 Fri, 11 Jul 2008 14:07:04 EDT http://www.sec.gov/news/press/2008/2008-138.htm The Securities and Exchange Commission today charged Houston-based energy company El Paso Corporation, its subsidiaries, and five former employees with fraud for improperly inflating their proved oil and gas reserves, making the companies' financial statements materially misleading to investors. 2008-138 Fri, 11 Jul 2008 12:54:39 EDT http://www.sec.gov/news/press/2008/2008-137.htm Elisse Barbara Walter was sworn in today as a Commissioner of the Securities and Exchange Commission. 2008-137 Wed, 9 Jul 2008 16:45:17 EDT http://www.sec.gov/news/press/2008/2008-136.htm The Securities and Exchange Commission today charged Sycamore Networks, Inc. and three of its former executives in connection with the backdating of stock options spanning several years at the Chelmsford, Mass.-based optical networking company. 2008-136 Wed, 9 Jul 2008 12:17:28 EDT http://www.sec.gov/news/press/2008/2008-135.htm The Securities and Exchange Commission today released findings from extensive 10-month examinations of three major credit rating agencies that uncovered significant weaknesses in ratings practices and the need for remedial action by the firms to provide meaningful ratings and the necessary levels of disclosure to investors. 2008-135 Tue, 8 Jul 2008 16:49:19 EDT http://www.sec.gov/news/press/2008/2008-134.htm Securities and Exchange Commission Chairman Christopher Cox and Board of Governors of the Federal Reserve System Chairman Ben Bernanke today signed a memorandum of understanding (MOU) between the two agencies that will deepen their information sharing and cooperation, permitting both agencies to better perform their responsibilities. 2008-134 Mon, 7 Jul 2008 11:48:40 EDT http://www.sec.gov/news/press/2008/2008-133.htm The Securities and Exchange Commission today published a final rule and new interpretive guidance to improve the rulemaking process for exchanges and other self-regulatory organizations (SROs) that operate under SEC oversight. 2008-133 Thu, 3 Jul 2008 14:01:04 EDT http://www.sec.gov/news/press/2008/2008-132.htm The Securities and Exchange Commission announced today that Dr. Stewart Mayhew has been promoted to Deputy Chief Economist in the agency's Office of Economic Analysis. 2008-132 Thu, 3 Jul 2008 11:06:25 EDT http://www.sec.gov/news/press/2008/2008-131.htm The Securities and Exchange Commission announced today that Jacob H. Stillman, the SEC's Solicitor, has been selected to receive the Federal Bar Association's 48th Annual Justice Tom C. Clark Award for Outstanding Government Attorney. 2008-131 Wed, 2 Jul 2008 14:06:22 EDT http://www.sec.gov/news/press/2008/2008-130.htm The Securities and Exchange Commission today announced the panelists and agenda for its July 9 roundtable on fair value accounting and auditing standards. 2008-130 Wed, 2 Jul 2008 11:32:46 EDT http://www.sec.gov/news/press/2008/2008-129.htm Gallagher to join director Sirri, deputy director Colby as part of division's senior management team. 2008-129 Tue, 1 Jul 2008 15:46:11 EDT http://www.sec.gov/news/press/2008/2008-128.htm The Securities and Exchange Commission has charged Microtune, Inc. and two former senior officers for perpetrating a fraudulent and deceptive stock option backdating scheme that awarded themselves and other employees millions of dollars in undisclosed compensation. The backdating scheme caused the Plano, Texas-based technology company to file false and misleading financial statements. 2008-128 Tue, 1 Jul 2008 15:21:22 EDT http://www.sec.gov/news/press/2008/2008-127.htm The Securities and Exchange Commission today published for public comment proposed rule changes to make the limits and purposes of credit ratings clear to investors and ensure that the role assigned to ratings in SEC rules is consistent with the objectives of having investors make an independent judgment of credit risks. 2008-127 Tue, 1 Jul 2008 12:54:34 EDT http://www.sec.gov/news/press/2008/2008-126.htm The Securities and Exchange Commission today announced that Chief Information Officer R. Corey Booth completed his SEC service on June 30 and will join the Boston Consulting Group in New York as a leader of its financial services practice. 2008-126 Tue, 1 Jul 2008 11:03:51 EDT http://www.sec.gov/news/press/2008/2008-125.htm Securities and Exchange Commission Chairman Christopher Cox today made the following statement after today's U.S. Senate confirmation of three SEC Commissioner nominees... 2008-125 Fri, 27 Jun 2008 15:31:59 EDT http://www.sec.gov/news/press/2008/2008-124.htm The Securities and Exchange Commission today published for public comment proposed rule amendments to increase the range of services foreign broker-dealers are allowed to offer in the United States. The proposed amendments also would maintain a regulatory structure designed to protect investors and the public interest. 2008-124 Fri, 27 Jun 2008 13:27:53 EDT http://www.sec.gov/news/press/2008/2008-123.htm The Securities and Exchange Commission has published for public comment a new rule proposal that would protect seniors and other investors from fraudulent and abusive practices in the sale of equity indexed annuities. 2008-123 Thu, 26 Jun 2008 17:04:15 EDT http://www.sec.gov/news/press/2008/2008-122.htm The Securities and Exchange Commission today announced that it has proposed revised oil and gas company reporting requirements to help provide investors with a more accurate and useful picture of the oil and gas reserves that a company holds. 2008-122 Thu, 26 Jun 2008 15:46:51 EDT http://www.sec.gov/news/press/2008/2008-121.htm The Securities and Exchange Commission today announced a Fair Fund distribution totaling more than $5.6 million to 534 investors who were victims of a fraudulent pump-and-dump scheme involving the stock of tool maker Spear & Jackson, Inc. 2008-121 Wed, 25 Jun 2008 14:02:08 EDT http://www.sec.gov/news/press/2008/2008-120.htm The Securities and Exchange Commission today charged St. Louis-based broker-dealer Scottrade, Inc., for fraudulent misrepresentations it made to customers relating to the firm's execution of their Nasdaq pre-open orders, which are placed after the day's market close to be executed at the next market opening. Without admitting or denying the Commission's findings, Scottrade agreed to pay a $950,000 penalty to settle the SEC's charges. 2008-120 Tue, 24 Jun 2008 14:13:54 EDT http://www.sec.gov/news/press/2008/2008-119.htm Securities and Exchange Commission Chairman Christopher Cox today announced the kickoff of an ambitious effort to examine fundamental questions about the way the SEC acquires information from public companies, mutual funds, brokers, and other regulated entities, and the way it makes that information available to investors and the markets. 2008-119 Tue, 24 Jun 2008 11:35:22 EDT http://www.sec.gov/news/press/2008/2008-118.htm The Securities and Exchange Commission today announced the distribution of approximately $26.6 million to more than 250 investors in the Banc of America Securities LLC (BAS) settlement. In March 2007, BAS paid $26 million in disgorgement and penalties to settle SEC charges that the firm published false research on three companies and failed to safeguard its nonpublic research information. 2008-118 Mon, 23 Jun 2008 14:49:35 EDT http://www.sec.gov/news/press/2008/2008-117.htm The Securities and Exchange Commission announced today that it will host a roundtable on July 9, 2008, to facilitate an open discussion of the benefits and potential challenges associated with existing fair value accounting and auditing standards. 2008-117 Fri, 20 Jun 2008 15:53:06 EDT http://www.sec.gov/news/press/2008/2008-116.htm The Securities and Exchange Commission announced today that it has approved a one-year extension of the compliance date for smaller public companies to meet the Section 404(b) auditor attestation requirement of the Sarbanes-Oxley Act. 2008-116 Fri, 20 Jun 2008 14:37:12 EDT http://www.sec.gov/news/press/2008/2008-115.htm The Securities and Exchange Commission today charged two former Bear Stearns Asset Management (BSAM) portfolio managers for fraudulently misleading investors about the financial state of the firm's two largest hedge funds and their exposure to subprime mortgage-backed securities before the collapse of the funds in June 2007. 2008-115 Thu, 19 Jun 2008 13:08:14 EDT http://www.sec.gov/news/press/2008/2008-114.htm The Securities and Exchange Commission today distributed more than $103 million to investors who lost money because of mutual fund market timing and late trading involving Banc of America Capital Management LLC (BACAP) and several of its affiliates. 2008-114 Wed, 18 Jun 2008 14:51:21 EDT http://www.sec.gov/news/press/2008/2008-113.htm Securities and Exchange Commission Chairman Christopher Cox today named Donald M. Hoerl as the Acting Regional Director of the SEC's Denver Regional Office. 2008-113 Wed, 18 Jun 2008 14:38:15 EDT http://www.sec.gov/news/press/2008/2008-112.htm The world's securities authorities - represented by IOSCO, as well as the European Commission, the Japan Financial Services Agency and the U.S. Securities and Exchange Commission, the securities authorities in the world's three largest capital markets - welcome the upcoming roundtable organized by the IASCF regarding the creation of an IASCF Monitoring Group. 2008-112 Wed, 18 Jun 2008 07:00 EDT http://www.sec.gov/news/press/2008/2008-111.htm The Securities and Exchange Commission's Division of Corporation Finance and Office of the Chief Accountant announced today that they have prepared for the Commission's consideration recommendations for updating and modernizing the reporting requirements for oil and gas companies. 2008-111 Thu, 12 Jun 2008 13:00:32 EDT http://www.sec.gov/news/press/2008/2008-110.htm The Securities and Exchange Commission today voted to formally propose a comprehensive series of credit rating agency reforms to bring increased transparency to the ratings process and curb practices that contributed to recent turmoil in the credit markets. 2008-110 Wed, 11 Jun 2008 15:15:05 EDT http://www.sec.gov/news/press/2008/2008-109.htm Securities and Exchange Commission Chairman Christopher Cox today made the following statement in connection with today's announcement by New York State Attorney General Andrew Cuomo regarding an agreement reached with three credit rating agencies. 2008-109 Thu, 5 Jun 2008 12:01:13 EDT http://www.sec.gov/news/press/2008/2008-108.htm The Securities and Exchange Commission today announced the list of panelists scheduled to participate in the International Roundtable on Interactive Data for Public Financial Reporting scheduled for June 10, 2008, from 9:30 a.m. to 12:00 p.m. The Roundtable follows the issuance on May 30, 2008, of a proposed rule on Interactive Data to Improve Financial Reporting. 2008-108 Wed, 4 Jun 2008 13:51:52 EDT http://www.sec.gov/news/press/2008/2008-107.htm Securities and Exchange Commission Chairman Christopher Cox today announced that Steven B. Harris has been appointed to the Public Company Accounting Oversight Board (PCAOB). 2008-107 Wed, 4 Jun 2008 09:30:38 EDT http://www.sec.gov/news/press/2008/2008-106.htm Securities and Exchange Commission Chairman Christopher Cox today announced that six former SEC chairmen will join him for a roundtable discussion on Wednesday, June 4, 2008, at the agency's headquarters in Washington D.C. 2008-106 Tue, 3 Jun 2008 15:48:24 EDT http://www.sec.gov/news/press/2008/2008-105.htm The Securities and Exchange Commission and the Commodity Futures Trading Commission today announced that each has approved the trading and clearing of two novel derivative products 2008-105 Tue, 3 Jun 2008 14:39:51 EDT http://www.sec.gov/news/press/2008/2008-104.htm Securities and Exchange Commission Chairman Christopher Cox and Linda Chatman Thomsen, Director of SEC's Division of Enforcement, announced today that George Curtis and Scott Friestad have been appointed as the new Deputy Directors in the Enforcement Division. 2008-104 Tue, 3 Jun 2008 12:25:11 EDT http://www.sec.gov/news/press/2008/2008-103.htm The Securities and Exchange Commission today announced that Walter G. Ricciardi will retire as Deputy Director of the Division of Enforcement in June. He will join the law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP as a partner in the firm's New York office. 2008-103 Mon, 2 Jun 2008 14:01:42 EDT http://www.sec.gov/news/press/2008/2008-102.htm The Securities and Exchange Commission today charged Massachusetts high-tech company Analog Devices, Inc. and its CEO Jerald Fishman for reporting false compensation and related financial information to investors by backdating stock option grants to officers, directors and employees. Without admitting or denying the SEC's findings, Analog and Fishman agreed to settle charges against them by consenting to the entry of an administrative cease-and-desist order. 2008-102 Fri, 30 May 2008 14:33:30 EDT http://www.sec.gov/news/press/2008/2008-101.htm The Securities and Exchange Commission today charged a former partner at Ernst & Young LLP, his friend, and his friend's father in an insider trading scheme that resulted in nearly $600,000 in illicit profits. 2008-101 Thu, 29 May 2008 11:27:04 EDT http://www.sec.gov/news/press/2008/2008-100.htm Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of Rosalind Tyson as Regional Director of the Commission's Los Angeles Regional Office. As Regional Director she will oversee the office's enforcement and examination functions in Southern California, Arizona, Nevada, and Hawaii. Ms. Tyson has been Acting Regional Director of the office since the departure of Randall Lee last year. 2008-100 Thu, 29 May 2008 10:52:58 EDT http://www.sec.gov/news/press/2008/2008-99.htm Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of Marc Fagel as Regional Director of the Commission's San Francisco Regional Office. As Regional Director he will oversee the office's enforcement and examination functions in Northern California and the Pacific Northwest. Mr. Fagel has been Co-Acting Regional Director of the office since the departure of Helane Morrison last year. 2008-99 Thu, 29 May 2008 10:52:58 EDT http://www.sec.gov/news/press/2008/2008-98.htm The Chairmen of four Canadian securities regulators and the Chairman of the U.S. Securities and Exchange Commission (SEC), following a series of meetings coinciding with the annual conference of the International Organization of Securities Commissions (IOSCO), announced today a schedule for the completion of a process agreement that would open the way for discussions of a potential U.S.–Canada mutual recognition arrangement. 2008-98 Thu, 29 May 2008 10:52:58 EDT http://www.sec.gov/news/press/2008/2008-97.htm The SEC requested the relief when it filed a complaint on May 27, 2008, against North American Clearing, its founder and director Richard L. Goble, its president Bruce B. Blatman, and its former financial and operations principal Timothy J. Ward, charging them with fraud and other securities laws violations. 2008-97 Wed, 28 May 2008 11:43:51 EDT http://www.sec.gov/news/press/2008/2008-96.htm The Securities and Exchange Commission announced today that SEC Secretary Nancy Morris is leaving the Commission to become an Executive Vice President at Allianz Global Investors of America, where she will have broad U.S. legal compliance responsibilities. 2008-96 Fri, 23 May 2008 15:48:05 EDT http://www.sec.gov/news/press/2008/2008-95.htm The Securities and Exchange Commission today signed protocols to share information on the application of International Financial Reporting Standards (IFRS) with financial regulators in four European countries. 2008-95 Fri, 23 May 2008 12:10:48 EDT http://www.sec.gov/news/press/2008/2008-94.htm The Securities and Exchange Commission today voted unanimously to formally propose that mutual fund investors get access to key information about fees, performance, and strategies through interactive data, which would permit comparison shopping among thousands of funds with all the ease of conducting an Internet search. 2008-94 Wed, 21 May 2008 14:38:04 EDT http://www.sec.gov/news/press/2008/2008-93.htm he Securities and Exchange Commission announced today's conclusion of an international meeting of regulators to discuss cross-border takeovers of public companies. The meeting was attended by more than 40 officials (from 28 countries) who are responsible for regulating transactions related to attempts to gain control of public companies by acquiring outstanding shares held by investors. 2008-93 Tue, 20 May 2008 15:53:40 EDT http://www.sec.gov/news/press/2008/2008-92.htm The Securities and Exchange Commission today filed settled charges against Brooks Automation, Inc., alleging that the Chelmsford, Mass. semiconductor capital equipment company overstated its income and understated employee compensation expenses in its financial statements by $64.5 million during a 10-year period due to its failure to properly account for employee stock options. 2008-92 Mon, 19 May 2008 12:20:14 EDT http://www.sec.gov/news/press/2008/2008-91.htm The Securities and Exchange Commission has charged an Italian machinery engineer with insider trading and obtained an emergency asset freeze of the more than $2.1 million illicit profit that he made only days ago from highly suspicious trading in his U.S. brokerage account in the securities of DRS Technologies, Inc., prior to the public disclosure of advanced merger negotiations. 2008-91 Fri, 16 May 2008 10:24:33 EDT http://www.sec.gov/news/press/2008/2008-90.htm The Securities and Exchange Commission today broadened small business financing opportunities by adopting a rule amendment under the Investment Company Act to increase the availability of capital to certain smaller companies that may not have ready access to the public capital markets or other forms of conventional financing. 2008-90 Thu, 15 May 2008 15:43:12 EDT http://www.sec.gov/news/press/2008/2008-89.htm Conrad W. Hewitt, the Commission's Chief Accountant, announced today the selection of Donal Byard, Susan Krische, and Roger Martin as Academic Accounting Fellows for fixed terms beginning this summer. 2008-89 Thu, 15 May 2008 13:07:29 EDT http://www.sec.gov/news/press/2008/2008-88.htm The Securities and Exchange Commission today filed securities fraud charges against the promoters of an $18 million real estate investment scheme targeting the African-American community in the Los Angeles area and other locations in Nevada and Georgia. 2008-88 Wed, 14 May 2008 15:39:28 EDT http://www.sec.gov/news/press/2008/2008-87.htm The Securities and Exchange Commission today charged two current and two former top officers of Irvine, Calif.-based Broadcom Corporation for their alleged participation in a five-year systematic scheme to secretly backdate stock options granted to virtually all Broadcom officers and employees. 2008-87 Wed, 14 May 2008 15:01:06 EDT http://www.sec.gov/news/press/2008/2008-86.htm The Securities and Exchange Commission today filed a settled enforcement action charging Willbros Group, Inc. and four former employees with violations of the Foreign Corrupt Practices Act (FCPA), alleging that they paid more than $6 million in undisclosed bribes to Nigerian government officials and others to obtain significant contracts for the Houston-based company. 2008-86 Wed, 14 May 2008 14:41:59 EDT http://www.sec.gov/news/press/2008/2008-85.htm The Securities and Exchange Commission today voted unanimously to formally propose using new technology to get important information to investors faster, more reliably, and at a lower cost. 2008-85 Wed, 14 May 2008 14:28:53 EDT http://www.sec.gov/news/press/2008/2008-84.htm The Securities and Exchange Commission today charged three Fort Lauderdale-area medical doctors with illegal insider trading, alleging that they reaped a combined total of more than a half-million dollars in profits from their illicit scheme. 2008-84 Mon, 12 May 2008 11:46:45 EDT http://www.sec.gov/news/press/2008/2008-83.htm The Securities and Exchange Commission has obtained an emergency court order freezing the assets of the alleged perpetrator of an Internet fraud scheme that reaped approximately $72 million from more than 3,000 investors in all 50 states and at least 30 foreign countries. 2008-83 Thu, 08 May 2008 17:34:30 EDT http://www.sec.gov/news/press/2008/2008-82.htm The Securities and Exchange Commission today charged a Silicon Valley semiconductor company and its co-founder for reporting false financial information to investors by improperly backdating stock option grants to employees. 2008-82 Thu, 08 May 2008 12:40:33 EDT http://www.sec.gov/news/press/2008/2008-81.htm The Securities and Exchange Commission's Division of Investment Management said today that it has prepared a recommendation for consideration by the Commission to increase the availability of capital to certain smaller companies that do not have ready access to the public capital markets or other forms of conventional financing. 2008-81 Wed, 07 May 2008 15:53:29 EDT http://www.sec.gov/news/press/2008/2008-80.htm The Securities and Exchange Commission has obtained a court order to stop a $27 million Ponzi scheme involving investors in the United States, Canada, and other countries. 2008-80 Wed, 07 May 2008 14:01:16 EDT http://www.sec.gov/news/press/2008/2008-79.htm Alexander F. Cohen, the current Deputy General Counsel for Legal Policy and Administrative Practice in the Securities and Exchange Commission's Office of the General Counsel, will be appointed the SEC's Deputy Chief of Staff effective May 9, 2008. 2008-79 Wed, 07 May 2008 13:19:35 EDT http://www.sec.gov/news/press/2008/2008-78.htm Securities and Exchange Commissioner Paul Atkins announced today that he intends to leave the SEC following the end of his term. Appointed by President Bush in August 2002 for the first of two terms, he plans to stay until his successor is appointed and takes office. 2008-78 Mon, 05 May 2008 15:45:34 EDT http://www.sec.gov/news/press/2008/2008-77.htm The Securities and Exchange Commission today announced the start of the process that will return more than $800 million in Fair Funds to harmed investors in American International Group, Inc., which settled SEC charges of financial fraud and improper financial reporting and disclosure over a four-year period. 2008-77 Mon, 05 May 2008 13:03:00 EDT http://www.sec.gov/news/press/2008/2008-76.htm The Securities and Exchange Commission has obtained an asset freeze and other emergency action to stop a $30 million hedge fund fraud by a San Diego-area investment adviser, Plus Money, Inc. 2008-76 Mon, 05 May 2008 12:38:10 EDT http://www.sec.gov/news/press/2008/2008-75.htm The Securities and Exchange Commission today announced that investors awaiting their refund checks from the Internal Revenue Service will simultaneously be receiving information about a new SEC phone-based resource that can help them learn more about various investing topics and avoid investment scams. 2008-75 Fri, 02 May 2008 15:41:22 EDT http://www.sec.gov/news/press/2008/2008-74.htm The Securities and Exchange Commission has obtained a court order halting a $25 million Ponzi-like scheme that particularly targeted Christian communities nationwide. 2008-74 Fri, 02 May 2008 14:37:21 EDT http://www.sec.gov/news/press/2008/2008-73.htm The Securities and Exchange Commission completed its 18th Annual International Institute for Securities Market Development on April 17, 2008. Record attendance at this year's training program totaled 192 senior securities officials from 76 foreign jurisdictions, including four jurisdictions attending the Institute for the first time. 2008-73 Fri, 02 May 2008 09:14:23 EDT http://www.sec.gov/news/press/2008/2008-72.htm The Securities and Exchange Commission today filed a settled enforcement action against Banc of America Investment Services, Inc. (BAISI) for failing to disclose to clients that in selecting investments for discretionary mutual fund wrap fee accounts, it favored two mutual funds affiliated with BAISI. 2008-72 Thu, 01 May 2008 12:01:48 EDT http://www.sec.gov/news/press/2008/2008-71.htm The Securities and Exchange Commission today filed enforcement actions against global advertising network McCann-Erickson Worldwide, its parent company, and two former executives for their roles in an accounting fraud involving intercompany transactions. 2008-71 Thu, 01 May 2008 10:00:53 EDT