Marcy Gordon

September 04, 2008 | National Law Journal

Federal prosecutors and regulators on Wednesday accused two former Wall Street brokers of defrauding customers by making more than $1 billion in unauthorized purchases of securities tied to subprime mortgages. The two former Credit Suisse Securities brokers were charged in federal court with deceiving customers in a bid to pump up their sales commissions. The Securities and Exchange Commission has filed a related civil lawsuit against the two former brokers in New York federal court.

By Marcy Gordon

3 minute read

January 27, 2010 | Daily Report Online

WASHINGTON AP - Federal regulators on Wednesday tightened rules for money-market mutual funds to require them to hold some assets that could be easily converted to cash and to disclose new information on fund values.The Securities and Exchange Commission voted 4-1 at a public meeting to adopt the new rules designed to bolster protection for investors in money-market funds, which hold about $3.

By MARCY GORDON

5 minute read

September 18, 2009 | Daily Report Online

WASHINGTON AP - Regulators on Thursday proposed rules designed to stem conflicts of interest and provide more transparency for credit rating companies. They also proposed banning "flash orders," which give some traders a split-second edge in buying or selling stocks.The changes, which were opened to public comment for 60 days, could eventually be adopted by the agency, possibly with revisions.

By MARCY GORDON

5 minute read

April 18, 2007 | Daily Report Online

WASHINGTON AP - With foreclosures rising, federal bank regulators called on lenders Tuesday to work with distressed borrowers unable to meet payments on high-risk mortgages to help them keep their homes. The heads of Fannie Mae and Freddie Mac said the mortgage finance giants are developing new types of loans to aid homeowners in avoiding default.

By Marcy Gordon

5 minute read

July 16, 2010 | Daily Report Online

By DANIEL WAGNER and MARCY GORDON

6 minute read

October 18, 2007 | Daily Report Online

WASHINGTON AP _ The man who nearly 40 years ago co-founded what is now the nation's largest mortgage lender is being scrutinized by federal securities regulators as they examine his sales of the struggling company's stock.The Securities and Exchange Commission's informal inquiry into Countrywide Financial Corp. Chief Executive Angelo R.

By Marcy Gordon

4 minute read

January 06, 2009 | Daily Report Online

WASHINGTON AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.Goldstein, 76, was among the thousands of investors who trusted Wall Street figure Bernard Madoff with their money while counting on federal regulators to protect the investing public from fraud.

By MARCY GORDON

5 minute read

March 03, 2009 | Daily Report Online

WASHINGTON AP - Federal regulators on Monday accused Sunwest Management Inc., one of the nation's largest operators of assisted-living facilities, and its former chief executive of securities fraud in connection with real estate investments that turned sour.The Securities and Exchange Commission announced the charges against Sunwest, based in Salem, Ore.

By MARCY GORDON

4 minute read

August 15, 2007 | Daily Report Online

By Marcy Gordon

4 minute read

September 19, 2008 | Daily Report Online

WASHINGTON AP-Federal securities regulators, in an effort to boost investor confidence in the face of a market crisis, took the dramatic step Friday of temporarily banning the trading practice of betting against financial stocks.The move, announced on the Securities and Exchange Commission's Web site, will temporarily ban what is called short selling of nearly 800 financial stocks.

By MARCY GORDON

5 minute read