Marcy Gordon

August 16, 2007 | Daily Report Online

By Marcy Gordon

3 minute read

January 20, 2010 | Daily Report Online

WASHINGTON AP - The insurer General Re Corp. has agreed to pay $92.2 million to settle charges by federal authorities' and shareholder claims over its alleged role in accounting misconduct schemes by American International Group and Prudential Financial.The Securities and Exchange Commission and the Justice Department announced the settlements Wednesday with Gen Re, which is part of Berkshire Hathaway Inc.

By MARCY GORDON

2 minute read

November 06, 2008 | Daily Report Online

By MARCY GORDON

2 minute read

March 24, 2009 | Daily Report Online

WASHINGTON AP - Key Democratic lawmakers are pushing legislation that would block creditors charging high interest rates on credit cards from collecting from consumers in bankruptcy proceedings.The proposal would change bankruptcy laws to dissolve claims for repayment of debt carrying interest over a certain level, now 18.

By MARCY GORDON

3 minute read

July 09, 2008 | Daily Report Online

WASHINGTON AP - Sycamore Networks Inc. and three former executives on Wednesday agreed to settle federal regulators' allegations of improper backdating of stock options from 2000 to 2005.The telecommunications equipment maker was not fined under the settlement with the Securities and Exchange Commission, which cited its cooperation in the agency's investigation.

By MARCY GORDON

3 minute read

February 02, 2010 | Daily Report Online

WASHINGTON AP - President Barack Obama is seeking a 12 percent budget increase for the Securities and Exchange Commission, including $419 million for more than 100 new enforcement staff to work on the agency's burgeoning caseload targeting fraud and market manipulation.The request to Congress Monday for nearly $1.

By MARCY GORDON

3 minute read

May 15, 2009 | Daily Report Online

WASHINGTON AP - Federal prosecutors and the FBI have been investigating possible illegal insider trading by two Securities and Exchange Commission enforcement attorneys who were in a position to receive sensitive information about agency probes of public companies.The SEC's inspector general, David Kotz, found that the frequent stock trades over a two-year period by the pair raised suspicions of insider trading.

By MARCY GORDON

4 minute read

May 23, 2007 | Daily Report Online

WASHINGTON AP - Legislation barring commercial companies like Wal-Mart and HomeDepot from owning a special sort of bank overwhelmingly cleared the House on Monday.The bill, which passed 371-16, would prohibit nonfinancial companies from setting up or owning so-called industrial loan companies, federally insured institutions that can issue credit cards, make loans and take deposits.

By Marcy Gordon

3 minute read

July 29, 2008 | Daily Report Online

WASHINGTON AP - The Labor Department and Securities and Exchange Commission plan to work more closely together in their roles overseeing private-sector employees' retirement plans.The heads of the two agencies on Tuesday are expected to announce the signing of a so-called memorandum of understanding, according to government officials who spoke on condition of anonymity because the formal announcement hadn't been made.

By MARCY GORDON

2 minute read

July 13, 2009 | Daily Report Online

WASHINGTON AP - The Obama administration has sent Congress legislation designed to protect investors by bolstering the authority of the Securities and Exchange Commission.The proposal unveiled Friday is part of the sweeping plan for overhauling the U.S. financial rule book that the administration is pressing lawmakers to enact to help avert another meltdown.

By MARCY GORDON and MARTIN CRUTSINGER

3 minute read