http://www.sec.gov/news/press.shtml The latest press releases from the Securities and Exchange Commission en-us Thu, 20 Nov 2008 00:00:01 EST Thu, 20 Nov 2008 15:20:48 EST http://www.sec.gov/news/press/2008/2008-277.htm The Securities and Exchange Commission announced today that its General Counsel, Brian G. Cartwright, has informed the Commission that he plans to return to the private sector. 2008-277 Thu, 20 Nov 2008 15:20:48 EST http://www.sec.gov/news/press/2008/2008-276.htm The Securities and Exchange Commission today announced the expected panelists for its November 21 roundtable concerning mark-to-market accounting. 2008-276 Wed, 19 Nov 2008 15:51:51 EST http://www.sec.gov/news/press/2008/2008-275.htm The Securities and Exchange Commission today voted unanimously to improve mutual fund disclosure by requiring that funds provide investors with a concise summary - in plain English - of the key information they need to make informed investment decisions. 2008-275 Wed, 19 Nov 2008 12:11:31 EST http://www.sec.gov/news/press/2008/2008-274.htm The Securities and Exchange Commission today charged four individuals for engaging in a fraudulent scheme to overvalue the commodity derivatives trading portfolio at Bank of Montreal (BMO), and thereby inflate BMO's publicly reported financial results. The defendants include a former senior derivatives trader at BMO and the top two senior executive officers of Optionable, Inc., a publicly traded commodities brokerage firm. 2008-274 Tue, 18 Nov 2008 13:19:52 EST http://www.sec.gov/news/press/2008/2008-273.htm The Securities and Exchange Commission today charged Dallas entrepreneur Mark Cuban with insider trading for selling 600,000 shares of the stock of an Internet search engine company on the basis of material, non-public information concerning an impending stock offering. 2008-273 Mon, 17 Nov 2008 11:30:52 EST http://www.sec.gov/news/press/2008/2008-272.htm The Securities and Exchange Commission today announced that the U.S. District Court for the Southern District of New York ruled in the SEC's favor in a trial against unregistered principal Michael W. Crow, who made millions of dollars in unlawful commissions while violating the broker-dealer registration and reporting provisions of the securities laws. 2008-272 Fri, 14 Nov 2008 14:45:06 EST http://www.sec.gov/news/press/2008/2008-271.htm The Securities and Exchange Commission announced today that on Nov. 21, 2008, at 9:30 a.m., ET, it will host the second of two roundtables on "mark-to-market" accounting and current market conditions. 2008-271 Fri, 14 Nov 2008 13:30:01 EST http://www.sec.gov/news/press/2008/2008-270.htm The Securities and Exchange Commission today announced the agenda and expected panelists for its November 20 forum on small business capital formation. 2008-270 Fri, 14 Nov 2008 12:15:54 EST http://www.sec.gov/news/press/2008/2008-269.htm Securities and Exchange Commission Chairman Christopher Cox today executed, on behalf of the SEC, a Memorandum of Understanding with the Federal Reserve Board and the Commodity Futures Trading Commission dealing with central counterparties for over-the-counter credit default swaps. 2008-269 Fri, 14 Nov 2008 09:30:20 EST http://www.sec.gov/news/press/2008/2008-268.htm The Securities and Exchange Commission announced today that it has completed its 14th Annual International Institute for Securities Enforcement and Market Oversight. 2008-268 Thu, 13 Nov 2008 11:46:41 EST http://www.sec.gov/news/press/2008/2008-267.htm The Securities and Exchange Commission today charged North Carolina resident J.V. Huffman and his company, Biltmore Financial Group, Inc., with securities fraud for conducting a Ponzi scheme where more than $25 million was raised from investors and used primarily to fund Huffman's lavish lifestyle. The SEC also obtained a court order freezing the assets of Huffman and Biltmore, and appointing a temporary receiver. 2008-267 Wed, 12 Nov 2008 17:04:51 EST http://www.sec.gov/news/press/2008/2008-266.htm The Securities and Exchange Commission today charged Sunnyvale, Calif., network security company Blue Coat Systems, Inc. and its former chief financial officer Robert P. Verheecke, alleging that they backdated stock option grants to executives and employees and reported false financial information to shareholders. 2008-266 Wed, 12 Nov 2008 13:22:45 EST http://www.sec.gov/news/press/2008/2008-265.htm The Securities and Exchange Commission announced today that John W. White, Director of the Division of Corporation Finance, will leave the agency at the end of this year after successfully leading the Division through one of the most significant and prolific rulemaking periods in its history to improve and modernize disclosure to investors. 2008-265 Thu, 06 Nov 2008 15:01:50 EST http://www.sec.gov/news/press/2008/2008-264.htm The Securities and Exchange Commission has approved a plan that establishes a process for reserving, selecting, and allocating securities symbols. The exchanges that list securities and the Financial Industry Regulatory Authority, Inc. (FINRA) must join the plan within 60 days. 2008-264 Thu, 06 Nov 2008 12:17:04 EST http://www.sec.gov/news/press/2008/2008-263.htm The Securities and Exchange Commission has been selected to receive the Distinguished in Diversity Award by GAYLAW, the Gay, Lesbian, Bisexual and Transgender Attorneys of Washington, in recognition of the agency's commitment to diversity in the workplace. 2008-263 Thu, 06 Nov 2008 12:17:04 EST http://www.sec.gov/news/press/2008/2008-262.htm The Securities and Exchange Commission today announced the promotion of Martin J. Murphy to Associate Regional Director for Examinations in the agency's Los Angeles Regional Office. Mr. Murphy will lead a staff of 65 examiners, accountants, attorneys and other professionals who conduct examinations and oversee the agency's bankruptcy program in Southern California, Arizona, Nevada and Hawaii. Mr. Murphy succeeds Rosalind Tyson, who was recently named Regional Director of the Los Angeles Office. 2008-262 Tue, 04 Nov 2008 13:03:25 EST http://www.sec.gov/news/press/2008/2008-261.htm The Securities and Exchange Commission announced today that it conducted an Understanding and Combating Unregulated Investment Schemes seminar in Jamaica from October 29 to 31. The three-day program included intensive training on methods for investigating and prosecuting pyramid and Ponzi-type investment schemes. 2008-261 Mon, 03 Nov 2008 12:30:28 EST http://www.sec.gov/news/press/2008/2008-260.htm The Securities and Exchange Commission today charged registered broker-dealer Lazard Capital Markets LLC with failing to supervise three employees who collectively spent more than $600,000 while improperly entertaining traders at Fidelity Investments in an effort to generate brokerage business. The SEC also charged the three employees and a supervisor for their roles in securities laws violations by Fidelity traders. 2008-260 Thu, 30 Oct 2008 16:33:28 EDT http://www.sec.gov/news/press/2008/2008-259.htm The Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) today announced they will waive the initial set-up and annual system fees paid by investment adviser firms to maintain the Investment Adviser Registration Depository (IARD) system. 2008-259 Thu, 30 Oct 2008 15:00:00 EDT http://www.sec.gov/news/press/2008/2008-258.htm The Securities and Exchange Commission today charged Miami resident Andres L. Pimstein and two private companies, The Bottom Line of South Florida, Inc. and Summit Trading LLC, with securities fraud for conducting a $30 million Ponzi scheme. 2008-258 Thu, 30 Oct 2008 14:06:48 EDT http://www.sec.gov/news/press/2008/2008-257.htm The Securities and Exchange Commission has adopted rule revisions to require that mutual funds and other companies seeking exemptions under the Investment Company Act submit their applications electronically. This change will enable investors to access these filings sooner and the Commission to consider them more quickly. 2008-257 Wed, 29 Oct 2008 14:02:01 EDT http://www.sec.gov/news/press/2008/2008-256.htm The Securities and Exchange Commission announced today that it has completed its largest regional training program ever, the Capital Market Development, Enforcement and Oversight Training Program, held in Istanbul, Turkey, from October 20 to 24. The five-day program, which was hosted and co-sponsored by the Capital Markets Board of Turkey (CMBT), included intensive training on methods for conducting investigations of insider trading, financial accounting fraud, market manipulation, pyramid schemes, and broker-dealer abuses. The training also included instruction on broker dealer examinations, compliance, and a variety of market development topics, as well as discussion of issues raised by current market events. 2008-256 Wed, 29 Oct 2008 13:47:19 EDT http://www.sec.gov/news/press/2008/2008-255.htm The Securities and Exchange Commission today announced the expected panelists for its October 29 roundtable concerning mark-to-market accounting. 2008-255 Mon, 27 Oct 2008 16:39:29 EDT http://www.sec.gov/news/press/2008/2008-254.htm The Securities and Exchange Commission today announced that the second-highest number of enforcement actions in agency history took place in fiscal year 2008. For the second year in a row, the SEC also returned more than $1 billion to harmed investors through Fair Fund distributions. 2008-254 Wed, 22 Oct 2008 11:59:53 EDT http://www.sec.gov/news/press/2008/2008-253.htm The Securities and Exchange Commission today announced that it will hold its annual forum on small business capital formation on Nov. 20, 2008, at its Washington, D.C., headquarters. 2008-253 Tue, 21 Oct 2008 13:13:09 EDT http://www.sec.gov/news/press/2008/2008-252.htm The Securities and Exchange Commission announced today that on Oct. 29, 2008, at 9 a.m. ET, it will host the first of two roundtables on "mark-to-market" accounting and current market conditions. 2008-252 Thu, 16 Oct 2008 13:42:38 EDT http://www.sec.gov/news/press/2008/2008-251.htm The Securities and Exchange Commission today charged San Francisco investment adviser MedCap Management & Research LLC (MMR) and its principal Charles Frederick Toney, Jr. with reporting misleading results to hedge fund investors by engaging in a practice known as "portfolio pumping." 2008-251 Thu, 16 Oct 2008 12:01:55 EDT http://www.sec.gov/news/press/2008/2008-250.htm The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today announced that the second annual CCOutreach BD National Seminar will be held on March 10, 2009, in Washington, D.C. The seminar helps provide a forum for discussion on effective compliance practices and timely compliance issues in ever-changing markets. 2008-250 Wed, 15 Oct 2008 12:04:21 EDT http://www.sec.gov/news/press/2008/2008-249.htm The Securities and Exchange Commission today announced the selection of Dr. Amy Edwards as Assistant Chief Economist for Markets and Intermediaries in the agency's Office of Economic Analysis. 2008-249 Fri, 10 Oct 2008 14:40:27 EDT http://www.sec.gov/news/press/2008/2008-248.htm The Securities and Exchange Commission today charged two former senior executives at Duane Reade with fraud for orchestrating multi-million dollar accounting schemes that caused the company to inflate its reported earnings and overstate its net income. Duane Reade is the operator of the largest chain of drug stores in the New York Metropolitan area. 2008-248 Thu, 09 Oct 2008 15:07:54 EDT http://www.sec.gov/news/press/2008/2008-247.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with Banc of America Securities LLC and Banc of America Investment Services, Inc. (collectively, Bank of America) that would provide 5,500 individual investors, small businesses, and small charities the opportunity to sell back to Bank of America up to $4.7 billion in auction rate securities (ARS) they purchased before the ARS market collapsed in February 2008. 2008-247 Wed, 08 Oct 2008 12:30:17 EDT http://www.sec.gov/news/press/2008/2008-246.htm The Securities and Exchange Commission's Division of Enforcement today announced a preliminary settlement in principle with RBC Capital Markets Corp. (RBC) that would provide individual investors, small businesses, small nonprofits, charities and religious organizations the opportunity to sell back to RBC all of the auction rate securities (ARS) they purchased from RBC before the ARS market collapsed in February 2008. 2008-246 Wed, 08 Oct 2008 12:30:17 EDT http://www.sec.gov/news/press/2008/2008-244.htm The Securities and Exchange Commission today charged Beverly Hills, Calif.-based Lion Gate Capital, Inc. and its principal Kenneth Rickel with illegal short selling in the securities of 14 publicly traded companies. 2008-244 Tue, 07 Oct 2008 14:42:56 EDT http://www.sec.gov/news/press/2008/2008-243.htm The Securities and Exchange Commission today charged a former vice president at national home furnishing retailer Restoration Hardware with insider trading for tipping three friends that the company was about to be acquired, enabling them to make more than $900,000 in unlawful profits when public announcement of the subsequent merger caused the stock price to soar. 2008-243 Tue, 07 Oct 2008 13:56:08 EDT http://www.sec.gov/news/press/2008/2008-242.htm The Securities and Exchange Commission today announced additional details on the process and initial steps that the SEC has undertaken to conduct a study on "mark-to-market" accounting, as authorized by Sec. 133 of the Emergency Economic Stabilization Act of 2008, signed into law by President Bush last Friday. 2008-242 Tue, 07 Oct 2008 12:37:53 EDT http://www.sec.gov/news/press/2008/2008-241.htm The Securities and Exchange Commission today announced the agenda for Wednesday’s roundtable on providing more transparency to investors that will include discussion of lessons from the current credit crisis. 2008-241 Tue, 07 Oct 2008 10:55:08 EDT http://www.sec.gov/news/press/2008/2008-240.htm The Securities and Exchange Commission announced today that James L. Eastman has been named Chief Counsel and Associate Director in the Division of Trading and Markets. 2008-240 Mon, 06 Oct 2008 17:35:55 EDT http://www.sec.gov/news/press/2008/2008-238.htm The SEC's Division of Trading and Markets today made the following statement. 2008-238 Fri, 03 Oct 2008 17:18:13 EDT http://www.sec.gov/news/press/2008/2008-237.htm The Securities and Exchange Commission today charged five Los Angeles-area brokers with securities fraud, alleging that they put their customers at risk by refinancing their homes with subprime mortgages that they could not afford in order to fraudulently sell them unsuitable securities. 2008-237 Fri, 03 Oct 2008 16:11:22 EDT http://www.sec.gov/news/press/2008/2008-236.htm Securities and Exchange Commission Chairman Christopher Cox today announced the appointment of James A. Clarkson as Acting Regional Director of the SEC's New York Regional Office. That office is responsible for the investigation and prosecution of enforcement actions and the performance of compliance inspections in the region. 2008-236 Fri, 03 Oct 2008 11:00:06 EDT http://www.sec.gov/news/press/2008/2008-235.htm The Commission has taken steps during recent weeks to address concerns regarding short sales in light of the ongoing credit crisis. These efforts relating to short sales have focused particularly on the securities of financial institutions whose health may have an impact on financial stability. The steps the Commission has taken are designed to ensure the continued smooth operation of orderly markets. Our actions have been taken in consultation with regulators of the major developed securities markets around the world, with whom we have coordinated in monitoring market reactions. 2008-235 Wed, 01 Oct 2008 19:45:53 EDT