Securities and Exchange Commission – News Stories About Securities and Exchange Commission - Page 3

Tesla Didn't Tell Investors About Autopilot Crash

SEC May Have Issue
With Tesla's Actions
After Autopilot Crash

Jul 12, 2016 12:30 AM CDT

SEC May Have Issue With Tesla's Actions After Autopilot Crash

Sources say SEC is investigating possible rules breach

(Newser) - Tesla notified the National Highway Traffic Safety Administration after its first fatal crash involving Autopilot mode , but it didn't bother telling investors about the May 7 crash, and that could land the company in hot water. Sources tell the Wall Street Journal that the Securities and Exchange Commission is...

Facebook
Makes Move
for Zuckerberg's
Power If He Leaves

Jun 3, 2016 12:35 PM CDT

Facebook Makes Move for Zuckerberg's Power If He Leaves

Board wants to curb his voting clout if he departs

(Newser) - It's hard to imagine Facebook without the face of Mark Zuckerberg at its helm, but that's exactly what the site's board of directors is anticipating in its latest proposal to the SEC. Per Reuters , the board submitted a proxy filing Thursday, notifying the federal agency that it...

Pro Golfer Made Nearly $1M on Insider Trading Tip: SEC

Phil Mickelson
Made Nearly
$1M on Insider
Trading: SEC

May 19, 2016 11:01 AM CDT

Phil Mickelson Made Nearly $1M on Insider Trading: SEC

Commission names pro golfer in federal lawsuit

(Newser) - The Securities and Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading, the AP reports. The SEC says gambler William Walters received tips and business information about Dean Foods Co. from Thomas Davis, former head of Dean Foods, between 2008 and 2012. The SEC...

Feds Prod
Theranos in
Criminal Probe

Apr 19, 2016 10:03 AM CDT

Feds Prod Theranos in Criminal Probe

SEC, DoJ now involved in investigations into blood-testing company

(Newser) - A success story gone sour has taken a new turn for Theranos and founder Elizabeth Holmes, with the SEC and the US attorney's office for the Northern District of California now conducting criminal investigations to determine whether the blood-testing company misled investors and others about its technologies, CNNMoney reports....

Feds Looking Into the
University of Phoenix

Jul 30, 2015 8:20 AM CDT

Feds Looking Into the University of Phoenix

Online college under the microscope by the FTC

(Newser) - The University of Phoenix, which runs an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company the Apollo Education Group told shareholders yesterday. In an SEC filing, the company disclosed that it had received a "civil investigative demand"...

Next for Bigfoot Hunter: IPO

Jan 21, 2015 3:48 AM CST

Next for Bigfoot Hunter: IPO

Profits could be elusive or nonexistent, analysts warn

(Newser) - If you trust the business sense of a guy who thought a rubber gorilla suit was a Bigfoot carcass, the Wall Street Journal may have uncovered an exciting investment opportunity for you. Tom Biscardi, the self-proclaimed "leading expert" on Bigfoot, has founded a firm called Bigfoot Project Investments and...

Olive Garden Investor
Slams Chain Over
... Breadsticks

Sep 12, 2014 1:42 PM CDT

Olive Garden Investor Slams Chain Over ... Breadsticks

294-page manifesto also complains about asparagus length, logo, pasta water

(Newser) - Everyone who was lucky enough to nab an Olive Garden all-you-can-eat pass , get ready. Starboard Value, an investor trying to wrest control from Olive Garden's parent company, submitted a nearly 300-page filing to the SEC yesterday outlining that it takes umbrage with the restaurant's unlimited breadstick policy, stating...

Twitter Reveals Revenue
in IPO Papers

Oct 3, 2013 5:15 PM CDT

Twitter Reveals Revenue in IPO Papers

Social media giant has lost $419M in all

(Newser) - Twitter unsealed the documents today for its planned IPO and says it hopes to raise up to $1 billion. The company is also revealing for the first time the amount of money it makes: Founded in 2006, Twitter has never turned a profit and has an uninterrupted history of losses...

JPMorgan Probed Over
Hiring Practices in China

Aug 18, 2013 1:57 PM CDT

JPMorgan Probed Over Hiring Practices in China

SEC investigates hire of powerful Chinese official's kids

(Newser) - Still under scrutiny for the London Whale fiasco , JPMorgan is now facing a new scandal: the SEC's anti-bribery unit is apparently now investigating whether the bank hired the children of powerful Chinese officials to help it win business in the Middle Kingdom. The New York Times has its hands...

SEC Digging
for a Mole on Wall Street

May 2, 2013 11:48 AM CDT

SEC Digging for a Mole on Wall Street

Issues subpoenas to get to the bottom of health care leaks

(Newser) - The SEC is trying to ferret out who leaked word of a coming government health care decision to stock traders, allowing them to get an unfair jump on the competition. The agency has issued subpoenas to a number of companies and individuals related to the case, the Washington Post reports....

Senate Approves Obama's Choice to Head SEC

Apr 8, 2013 2:55 PM CDT

Senate Approves Obama's Choice to Head SEC

Mary Jo White said she will hold 'all wrongdoers' accountable

(Newser) - The US Senate has confirmed Mary Jo White's nomination as chairman of the Securities and Exchange Commission, making her the first former prosecutor to lead the federal agency that oversees Wall Street. White was approved today by a Senate voice vote. She will replace Elisse Walter, who has been...

Obama to Pick
Prosecutor to
Head SEC:
Report

Jan 24, 2013 8:42 AM CST

Obama to Pick Prosecutor to Head SEC: Report

Mary Jo White to head SEC, Richard Cordray to head CFPB

(Newser) - Is the SEC about to get tougher? President Obama intends to nominate former US Attorney Mary Jo White to head the organization, sources tell the AP . White spent nearly a decade prosecuting white collar criminals in Manhattan, and has a reputation as a particularly dogged prosecutor of financial fraud cases...

Justice Department Opens Inquiry Into HP Unit

Dec 28, 2012 3:35 PM CST

Justice Department Opens Inquiry Into HP Unit

Autonomy's bookkeeping under investigation

(Newser) - Hewlett-Packard says the Justice Department is investigating HP's business software unit Autonomy, which the computer maker has accused of fudging its accounting . HP revealed the investigation in an SEC filing yesterday. The technology company also said it provided information to the UK Serious Fraud Office and the SEC about...

SEC Chief Schapiro Resigns

Nov 26, 2012 11:19 AM CST

SEC Chief Schapiro Resigns

President Obama names Elisse Walter to replace her

(Newser) - Mary Schapiro is stepping down as SEC chairman, she announced today, making her the first major departure from the Obama administration and one that it was seemingly fully prepared for. President Obama immediately promoted SEC Commissioner Elisse B. Walter to the job, reports the New York Times , which adds that,...

SEC: National Radio Host Misleads Investors

Sep 6, 2012 3:52 PM CDT

SEC: National Radio Host Misleads Investors

Ray Lucia's plan won't provide seniors 'income for life': regulators

(Newser) - Popular radio host Ray Lucia says his investment plan can "generate inflation-adjusted income for life"—but the SEC says that claim is misleading, and wants to stop him from using it, the Los Angeles Times reports. According to the SEC, the nationally syndicated Lucia "performed scant, if...

Knight Capital on Brink After Millions of Accidental Trades

Aug 3, 2012 8:51 AM CDT

Knight Capital on Brink After Millions of Accidental Trades

Talk of regulation heats up after brokerage debacle

(Newser) - Forty-five minutes. That's how long it took Knight Capital to lose $440 million on Wednesday when its new trading software went haywire, making millions of unintended trades, and leaving it at the brink of collapse. Now the company is fighting for its survival, and debate is heating up about...

Facebook IPO Proves Need for Overhaul: Lawmakers

Jun 21, 2012 5:08 PM CDT

Facebook IPO Proves Need for Overhaul: Lawmakers

Darrell Issa raises concerns for small investors

(Newser) - Lawmakers led by Rep. Darrell Issa have penned a letter to the SEC urging an overhaul of the IPO system, saying Facebook's shaky public offering underlines the raw deal handed to small investors, the Wall Street Journal reports. The Republican House Oversight chair wrote that investment banks "dictate...

Justice Department
Opens JPMorgan Probe

May 15, 2012 11:59 AM CDT

Justice Department Opens JPMorgan Probe

Meanwhile, Jamie Dimon survives shareholder vote

(Newser) - Maybe Jamie Dimon will go on trial after all? That's getting way ahead of things, but the Justice Department has opened an inquiry into the JPMorgan trading scandal, sources tell the Wall Street Journal . It's currently unclear what legal violations it's looking into, but the probe will...

SEC Dumps
Millions on
Consultants

Mar 1, 2012 11:31 AM CST

SEC Dumps Millions on Consultants

And critics say it's not getting its money's worth

(Newser) - The Securities and Exchange Commission is, by its own admission, something of an organizational mess right now, so it's done what many corporations have done: called in consultants. In less than a year, the SEC has spent more than $8.5 million on consultants, Reuters reports, hiring first the...

SEC Letting Big Banks
Skirt Fraud Penalties

NYT analysis

Feb 3, 2012 7:13 AM CST

SEC Letting Big Banks Skirt Fraud Penalties

'New York Times' analysis finds 350 instances of banks getting free passes

(Newser) - The Securities and Exchange Commission has repeatedly allowed Wall Street's biggest banks to avoid penalties specifically intended to punish and deter fraud, a New York Times analysis of SEC records reveals. Over the past decade, the SEC has on almost 350 occasions granted waivers exempting big financial companies from...