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U.S. Securities and Exchange Commission

By Daniel Edward Rosen 1/24 8:00am

Golden Parachute for High Ranking Kimco Realty Executive

A high-ranking executive for the Kimco Realty Corporation, a real estate investment trust that has interests in 940 shopping centers and 138 million square feet of space across North America and other parts of the globe, received a cushy golden parachute following her resignation from the firm earlier this month, including a million-dollar salary for the next thirty months and a 2011 performance bonus worth $115,000, according to SEC filings.

Barbara M. Pooley, the former Chief Administrative Officer and Executive Vice President of Kimco Realty, formally resigned from the 687-employee firm on January 13th of this year, according to an 8-K form filed with the U.S. Securities and Exchange Commission, as was first reported by Footnoted.com, a website that regularly examines SEC filings. Read More

By Mike Taylor 10/25/10 4:50pm

That Folksy Billionaire

Buffett’s Berkshire Tells the SEC to Take a Hike

When asked by the Securities and Exchange Commission about its accounting practices, Berkshire Hathaway -- Warren Buffett's enormous conglomerate that invests in things like milkshake restaurants and railroads -- basically told the federal regulators that they should mind their own business, Bloomberg reports.

The SEC asked in April about Berkshire's valuations for its investments in Read More

By Mike Taylor 10/04/10 5:44pm

Computer Era

Head CFTC Regulator Outlines Flash Crash Response

Gary Gensler, the chairman of the Commodity Futures Trading Commission, today described potential regulatory responses that would seek to prevent another market-shaking event like the May 6 flash crash, during which the Dow Jones Industrial Average lost nearly 1,000 points only to bounce back sharply within a roughly 20-minute span.

Gensler's remarks follow Friday's Read More

By Mike Taylor 9/17/10 2:49pm

Legal Matters

See You In Court, Ex-Countrywide Chief Angelo Mozilo

Angelo Mozilo, the former head of Countrywide and perhaps the best-tanned CEO in our nation's history, is now slated to stand trial on charges related to the now-defunct mortgage lender's representation of its loan portfolio.

The Securities and Exchange Commission is charging Mozilo, along with ex-Countrywide CFO Eric Sieracki and former president David Sambol with failure Read More

By Mike Taylor 3:12pm

Wrist slaps

Citigroup Would Like to Pay $75 M to Settle SEC Subprime Charges

Sprawling financial supermarket Citigroup yesterday told the U.S. Disctrict Court that a $75 million fine it agreed to pay the Securities Exchange Commissioin is an adequate sum to settle charges that it failed to disclose $39 billion in subprime assets in 2007.

Last week, the SEC defended the very same settlement agreement to U.S. Read More

By Mike Taylor 9/13/10 3:37pm

Computer Era

Regulators Dish Out $2.3 M Fine in High-Speed Trading Case

Small-time proprietary trading firm Trillium Brokerage Services is ponying up $2.3 million in fines related to high-frequency trading antics it engaged in in 2006, the Financial Times reports, citing people familiar with the situation.

Trillium faces enforcement action by the Financial Indusry Regulatory Association (Finra) because of a practice known as "layering," wherein traders place Read More

By Mike Taylor 9/10/10 7:56pm

SEC Expands ‘Circuit Breaker’ System in ‘Flash Crash’ Response

The Securities and Exchange Commission today announced that, yes, the May 6 "flash crash" was scary enough that it would expand the number of stocks that would trigger circuit breakers that halt trading when the market is gripped by extraordinary volatility.

The circuit-breaker rule says that trading in a security stops for five minutes if Read More

By Mike Taylor 9/09/10 5:33pm

Legal Matters

SEC: Former Citi Execs Knew About Undisclosed Mortgage Losses

Even though the judge presiding over the case believes the SEC's settlement of charges that Citigroup misled investors about its exposure to subprime mortgage markets is too soft on the bankers, there's a bright side. Filings by the SEC in the regulatory dispute are giving Wall Street onlookers a detailed look at the alleged Read More

By Mike Taylor 9/09/10 12:19pm

Abacus Wrist slaps

U.K. Fines Goldman $27 M: Fabulous Fab Causes Spot of Bother

Loathe to miss out on the chance to dispense some SEC-style justice, the U.K.'s Financial Services Authority today dished out a $27 million fine to Wall Street titan Goldman Sachs. Goldman's crime? Failure to report this year's SEC highly publicized if somewhat ineffectual investigation into its 2007 dealings in collateralized debt obligations.

Readers may remember Read More

By Mike Taylor 9/08/10 7:45pm

Computer Era

Did ‘Stub Quotes’ Cause the Flash Crash? And What Are They?

The Securities and Exchange Commission has yet to unearth a single factor that precipitated the May 6 "flash crash," which sent the Dow Jones Industrial Average spiraling down 700 points in minutes, seriously freaking out market participants.

Reuters reports that the SEC's investigation will point to previously established factors like "stub quotes," other unconventional Read More

By Mike Taylor 9/07/10 6:11pm

Sec

SEC Head Mary Schapiro Talks ‘Flash Crash,’ Madoff, Dodd-Frank

At the 410th meeting of the Economic Club of New York at the Sheraton on 811 7th Avenue this afternoon, Securities and Exchange Commission chairman Mary Schapiro discussed her agency's scrutiny of the May 6 "Flash Crash," what she hoped to do to prevent another Bernie Madoff from fleecing investors, and the delicate balance between Read More

By Mike Taylor 9/07/10 12:40pm

Money Snitches Get Riches

Big Whistleblower Bonuses Mean More Tips for SEC

An increase in payouts to informants from the Securities and Exchange Commission is yielding a higher number of people coming forward with tips about potential wrongdoing, The Wall Street Journal reports.

A tip with original information could net a snitch as much as 30 percent of the money the SEC collects from a ne'er do Read More

By Mike Taylor 9/02/10 1:13pm

Computer Era

SEC Examines ‘Flash Crash’ for Possible Robo-Trader Hanky Panky

Mere days after a computer programmer alerted authorities to potential foul play in the May 6 "flash crash," the Securities and Exchange Commission is looking into whether high-speed trading tactics were used to manipulate the market, The Wall Street Journal reports.

One technique the SEC is looking at is "quote stuffing," the practice of Read More

By Mike Taylor 8/31/10 12:29pm

Tuesday Morning Roundup: New Regulations Mean New Jobs! (For Regulators)

• While Wall Street executives fret about how financial reform may hamstring their operations, business is booming and jobs are abundant at the Securities and Exchange Commission. [Bloomberg]

• Wall Street, long known for its adoration of Barack Obama, has gotten over its presidential crush, thanks mainly to the commander in chief's insistence on strict regulation of Read More

By Mike Taylor 8/25/10 7:02pm

You're Fired

SEC Expands Shareholder Power to Nominate Board Members

If you own stock in a company, you may very well have just gotten a lot more powerful. As expected, the Securities and Exchange Commission today used powers granted to it by the Dodd-Frank financial reform bill to change the rules governing how companies elect their directors, increasing shareholders' power to effect change in coporate boardrooms.

The rule Read More

The New York Observer

U.S. Securities and Exchange Commission

Golden Parachute for High Ranking Kimco Realty Executive

Buffett’s Berkshire Tells the SEC to Take a Hike

Head CFTC Regulator Outlines Flash Crash Response

See You In Court, Ex-Countrywide Chief Angelo Mozilo

Citigroup Would Like to Pay $75 M to Settle SEC Subprime Charges

Regulators Dish Out $2.3 M Fine in High-Speed Trading Case

SEC Expands ‘Circuit Breaker’ System in ‘Flash Crash’ Response

SEC: Former Citi Execs Knew About Undisclosed Mortgage Losses

U.K. Fines Goldman $27 M: Fabulous Fab Causes Spot of Bother

Did ‘Stub Quotes’ Cause the Flash Crash? And What Are They?

SEC Head Mary Schapiro Talks ‘Flash Crash,’ Madoff, Dodd-Frank

Big Whistleblower Bonuses Mean More Tips for SEC

SEC Examines ‘Flash Crash’ for Possible Robo-Trader Hanky Panky

Tuesday Morning Roundup: New Regulations Mean New Jobs! (For Regulators)

SEC Expands Shareholder Power to Nominate Board Members

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