Marcy Gordon

December 16, 2009 | Daily Report Online

WASHINGTON AP - Companies will have to reveal more information about how much they pay their top executives, under expanded requirements being imposed by federal regulators amid a public outcry over compensation.The Securities and Exchange Commission also is changing a formula that critics say allowed companies to understate how much their senior executives are paid.

By MARCY GORDON

4 minute read

July 29, 2009 | Daily Report Online

WASHINGTON AP - The Securities and Exchange Commission had been actively investigating the banking business of billionaire R. Allen Stanford for more than three years before Bernard Madoff's Ponzi scheme came to light last December and has fulfilled its duty to pursue alleged wrongdoing by the financier, the agency's inspector general has found.

By MARCY GORDON

4 minute read

October 13, 2010 | Daily Report Online

WASHINGTON AP - Federal regulators on Wednesday proposed to cap the stake that banks and other market players can own in exchanges where the complex investments blamed for hastening the financial crisis are traded.The Securities and Exchange Commission voted to seek public comment on the proposed rules, which are designed to prevent conflicts of interest in the operations of clearinghouses and exchanges for derivatives.

By MARCY GORDON

2 minute read

May 14, 2009 | Daily Report Online

WASHINGTON AP - Federal regulators filed suits Thursday against several companies they say are behind a national wave of spam "robo-calls" that warn people their auto warranties are expiring and offer new service plans.Federal Trade Commission officials said they asked a federal court in Chicago to halt the illegal telemarketing campaign of "Your Car Warranty Has Expired.

By MARCY GORDON

4 minute read

May 23, 2008 | Daily Report Online

WASHINGTON AP - The housing market slump translated into brisk business last year for mortgage scammers and the federal agents who pursue them, with the FBI winning 206 convictions, recovering nearly $22 million and still chasing a growing number of securities and commodities fraud cases.According to an FBI report released Thursday, the 1,204 mortgage fraud cases pursued in fiscal year 2007, which ended last Sept.

By MARCY GORDON

3 minute read

October 08, 2008 | Daily Report Online

WASHINGTON AP - Bank of America Corp. has agreed to buy back as much as $4.7 billion in auction-rate securities to settle charges that it misled thousands of customers about the risky investments, federal and New York state regulators said Wednesday.The regulators also announced similar settlements with RBC Capital Markets Corp.

By MARCY GORDON

3 minute read

September 03, 2009 | Daily Report Online

By MARCY GORDON

3 minute read

July 30, 2008 | Daily Report Online

WASHINGTON AP -The former chief executive of Refco Inc. on Wednesday agreed to a civil settlement with federal regulators that bars him from being an officer or director of any public company.The Securities and Exchange Commission announced the accord with Phillip R. Bennett, who already faces a 16-year prison sentence for conspiracy and fraud charges.

By MARCY GORDON

2 minute read

January 18, 2008 | Daily Report Online

WASHINGTON AP The oceanographer who discovered what may be the richest shipwreck treasure in history has agreed to pay $216,355 in an insider-trading settlement with federal regulators.The Securities and Exchange Commission on Thursday announced a civil settlement with Ernesto Tapanes, an oceanographic consultant, after accusing him of illegally profiting from his find.

By MARCY GORDON

3 minute read

July 16, 2007 | Daily Report Online

WASHINGTON AP - Federal regulators have undertaken an informal investigation in the anonymous online postings of John Mackey, the chief executive of Whole Foods Market Inc., some of which denigrated a smaller rival grocery chain and that raise novel questions for securities watchdogs.Mackey's postings over seven years on Internet financial forums, cloaked under the name "rahodeb," at times attacked Wild Oats Markets Inc.

By Marcy Gordon

3 minute read