District Court Refuses to Approve $75 Million Settlement Between Citigroup, SEC

The U.S. District Court for the District of Columbia Aug. 16 declined to sign off on Citigroup Inc.’s (C) preliminary agreement to pay $75 million to settle Securities…

ANALYSIS: SEC Faces Battles in Implementing Financial Reform Legislation, Lawyers Say

Over the next two years, potential minefields and major battles await the Securities and Exchange Commission, as it undertakes rulemaking to implement the recently enacted…

SEC Adopts Adviser ‘Pay-to-Play’ Rule; Industry Welcomes Easing of Solicitor Ban

Securities and Exchange Commission members June 30 unanimously voted to adopt a new rule designed to curb pay-to-play practices by investment…

Sweeping Senate-Passed Reform Bill Would Boost Oversight of Hedge Funds, Credit Rating Agencies

After nearly three weeks of debate on the floor, the Senate May 20 passed, by a vote of 59 to 39, an historic bill that would achieve the most expansive overhaul of securities regulation since…

FINRA to Assume NYSER Regulatory Duties; Move Will Enhance Oversight, Officials Say

NYSE Euronext (NYX) and the Financial Industry Regulatory Authority May 4 announced that by the end of June, FINRA will take over New York Stock Exchange Regulation’s market surveillance and…

SEC Review of Investment Company Use of Derivatives ‘Long Overdue,’ Official Says

The Securities and Exchange Commission’s recently announced initiative to review the use of derivatives by investment companies, including mutual and exchange-traded funds, is a significant move that was “long overdue,” Andrew Donohue, director of the SEC’s Division of Investment Management, said March 26.

SEC’s New Market Abuse Unit Developing Technology to Analyze Trading Data

The Securities and Exchange Commission’s new Market Abuse unit is “actively developing” a sophisticated database to sort and analyze so-called “blue sheet” trading data to detect…

SEC Sides with Investment Banks in Losing Bid to Lower Firewalls in 2003 Analyst Settlement

Notwithstanding the concurrence of the Securities and Exchange Commission, the U.S. District Court for the Southern District of New York declined March 18 to modify a…

Lehman Report May Create Litigation Exposure for Former Officers, Auditor, Attorneys Say

Allegations contained in a comprehensive report concerning the September 2008 bankruptcy of Lehman Brothers Holdings Inc. may expose…

Madoff Investors Sue Securities Investor Protection Corp.

Investors who held brokerage accounts at Bernard L. Madoff Investment Securities LLC, and who have been denied relief by the trustee assessing claims in the case, Feb. 24 sued to…

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