Finance News
SEC Freezes Assets of Thailand Trader for Insider Trading Ahead of Smithfield Foods Acquisition AnnouncementThe Securities and Exchange Commission announced an emergency court order to freeze the securities and assets of a trader in Bangkok, Thailand, who made in excess of $3 million by trading in advance of last week’s announcement that Smithfield Foods agreed to a multi-billion dollar purchase by the Chinese holding company, Shuanghui International Holdings.
SEC Proposes Money Market Fund ReformsThe United States Securities and Exchange Commission unanimously agreed to propose new regulations that would alter the way that money market funds operate in order to make them less volatile and susceptible to fluctuations that would ultimately harm investors.
SEC Warns Investors Regarding Binary Options and Charges Cyprus CompanyThe Securities and Exchange Commission cautioned investors about the dangers of participating in binary options and has charged a Cyprus-based business with selling them illegally to investors in the United States.
Chrysler Refuses to Initiate Jeep RecallIn a rare refusal of the United States government, the Chrysler Group is rebuffing a National Highway Traffic Safety Administration request to recall 2.
Experiment Time: The New Massachusetts Health Care Situation The fervent debate has lost most of its steam as the United States Supreme Court has rejected the premiere legal challenge and November’s presidential election snuffer out the opposition’s hopes for a late reversal.
SEC Comes Down on 61 Companies for Committing Fraud in the Over-the-Counter MarketThe SEC today announced the second-largest trading suspension in U.
SEC Charges Prominent Company for Accounting MishapsThe SEC today charged a Washington-based commercial truck manufacturer for a number of accounting deficiencies that clouded the company’s financial reporting to investors during the financial crisis.
On the Brink: Federal Disability Trust Fund Disappearing QuicklyRoughly 11 million Americans depend on federal disability payments; however, the system is on the verge of running out of money.
Livestrong No More: Nike to Stop Making Livestrong Products Nike announced that it will cease making and selling products for the Livestrong Foundation at the end of this year.
SEC Charges Institutional Shareholder Services with Breaching Clients’ Voting RightsThe Securities and Exchange Commission charged a Rockville, Maryland-based proxy adviser Shareholder Service for failing to protect the confidential proxy voting information of clients participating in several proxy contests.
SEC Charges Dallas-Based Trader with Front Running
The Securities and Exchange Commission announced fraud charges and an immediate asset freeze against a trader at a Dallas-area investment advisory firm who illegally profited by placing personal trades before executing large order trades for clients that had a strong opportunity to increase the stock’s price.
The Securities and Exchange Commission announced fraud charges and an immediate asset freeze against a trader at a Dallas-area investment advisory firm who illegally profited by placing personal trades before executing large order trades for clients that had a strong opportunity to increase the stock’s price.
Not as bad as we thought: Obamacare Premiums in California Lower than Expected Health insurance providers in the state of California will charge an average of $304 a month for the silver-level coverage (the least expensive plan) in state-based exchanges starting next year.
Another One Bites the Dust: IRS Official Lois Lerner Placed on Administrative Leave The official of the Internal Revenue Service responsible for overseeing the unit that targeted conservative groups for a number of years starting in the spring of 2010 has been placed on administrative leave, according to a statement released by both the Republican and Democratic parties.
Ben Bernake Warns against Raising Interest Rates too soonFederal Reserve Chairman Ben Bernanke warned the American public of the risks associated with raising interest rates too soon.
Not So Sunny: SEC Charges City of South Miami with FraudThe Securities and Exchange Commission today charged South Miami with defrauding bond investors regarding the tax-exempt financing eligibility of a mixed-use paring and retail structure being constructed in its downtown commercial area.
Apple Facing the Heat: Tech Giant Questioned over Tax HavensApple executives defended the tech giant’s tax strategy on Capitol hill today, claiming that the corporation pays one of the highest effective tax rates of any major company in the United States.
SEC Charges Father and Son Conducted Cherry-Picking Scheme at Investment Company The Securities and Exchange Commission charged a father and son and their Chicago-based investment advisory business with defrauding clients via a cherry-picking scheme that reaped them approximately $2 million in illegal profits, which they used to purchase vehicles, vacations, and luxury homes.
Fired IRS Official Denies Intentional Targeting and Lying to CongressOusted IRS Official Denies Intentional Targeting and Lying to Congress A significant increase in workload, as oppose to deliberate targeting, led to foolish mistakes and acts of political discrimination in the IRS as cited by an inspector general’s report, the agency’s outgoing commissioner claimed today.
SEC Charges China-Based Execs in Scheme to Divert Money for Personal Use and Overstate RevenuesThe United States Securities and Exchange Commission charged husband-and-wife executives at a China-based business with engaging in a fraudulent activity to overstate the company’s revenues and divert funds from a securities offering for their personal use.
Cost Cutters: Deficits in the United States Falling Faster than Expected Headed by Douglas Elmendorf, the United States Congressional Budget Office, projects this year’s deficit will be $200 billion less than it projected just a few months ago.
Stuck in the Mud: Europe Facing Longest Recession in History A long winter held back construction activity in Germany, which contributed to a sharper than expected drop in first quarter output across the Eurozone.
Young Men: The Exposed Age Group under Obamacare The Obama administration claims that the Affordable Care Act will provide cheaper health insurance for millions of Americans.
Nearly 100,000 Borrowers Shortchanged in Mortgage Settlement Checks that were supposed to compensate mortgage borrowers who fell victim to illicit foreclosure practices have finally started arriving in mailboxes; however, many of these checks are well short of the amount owed.
SEC Charges Pennsylvania City for Making Fraudulent Public StatementsThe United States Securities and Exchange Commission charged the city of Harrisburg with securities fraud for misleading public when it issued statements regarding its financial situation.
SEC Issues Alert on Settlement Income or Pension StreamsThe United States Securities and Exchange Commission, along with the Financial Industry Regulatory Authority issued an investor alert for Pension or Settlement Income Stream Investments.
Does Obamacare Help the Female Population?With Mother’s Day behind us, President Obama spoke to a group of women—including a number of moms—about the ways the new Affordable Care Act is already providing aid to millions of Americans like them.
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