SEC Freezes Assets of Thailand Trader for Insider Trading Ahead of Smithfield Foods Acquisition Announcement

The 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 ...

SEC Proposes Money Market Fund Reforms

The 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.  The rules proposed by the federal agency include two principal reforms ...

SEC Warns Investors Regarding Binary Options and Charges Cyprus Company

The 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. Binary options are securities whose payout is dependent on whether the underlying asset rises or declines in value ...

Chrysler Refuses to Initiate Jeep Recall

  In a rare refusal of the United States government, the Chrysler Group is rebuffing a National Highway Traffic Safety Administration request to recall 2.7 million sport utility vehicles.    The federal agency claims that the gas tank design utilized in 1993 to 2004 Jeep Grand Cherokees and Jeep Libertys from ...

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. Come the New Year, every American in the country, will be required to carry health insurance or a pay ...

SEC Comes Down on 61 Companies for Committing Fraud in the Over-the-Counter Market

The SEC today announced the second-largest trading suspension in U.S. history as the agency continues to conduct its “Operation Shell Expel” crackdown to thwart the manipulation of small or microcap shell companies that are susceptible to fraud as they lay stagnant in the over-the-counter market.    The agency ...

SEC Charges Prominent Company for Accounting Mishaps

The 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. The SEC alleges that PACCAR’s accounting controls included ineffective policies and procedures that kept the business from ...

On the Brink: Federal Disability Trust Fund Disappearing Quickly

  Roughly 11 million Americans depend on federal disability payments; however, the system is on the verge of running out of money.    According to a government report, the Social Security Disability Insurance program is expected to run out of money in its trust fund sometime in 2016, years before both the Social ...

Rising Rapidly: Mortgage Rates are Highest in a Year

  Mortgage rates in the U.S. have hit their highest level in more than a year, making homes more expensive for purchases who seek to finance their new abodes.  The rates on 30-year-fixed mortgages jumped nearly .25 percent to 3.81 percent this week, according to mortgage lending giant Freddie Mac. This is an increase of ...

SEC Charges French Oil Company for Making Illegal Payments to Iranian Official

  The S.E.C. charged Total S.A.—a France-based oil and gas company—with violating the Foreign Corrupt practices Act by paying more than $60 million in illegal payments to an intermediary of an Iranian official who then utilized his influence to help the company procure valuable contracts to develop substantial gas and ...

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