How many acronyms can you fit in one sentence? Please see the above headline, which pertains to a settlement reached by the Securities and Exchange Commission (SEC) that will see the NASDAQ (National Association of Securities Dealers Automated Quotations — the more you know!) paying out $10 million for bungling Facebook’s IPO, or Initial Public Offering last year. Whew, try saying that sentence three times fast. Or even once. [More]
When it comes to running a big company, there are certain things the Securities and Exchange Commission will be a stickler about. Even if you’re the CEO of Netflix like Reed Hastings, the SEC won’t let you off the hook for Facebook and blog posts it says were violations of the Regulation Fair Disclosure rule. Ruh roh. [More]
The Securities and Exchange Commission isn’t done sorting through the mortgage mess, and has launched inquiries with Wells Fargo and Goldman Sachs over mortgage-backed securities they peddled to investors. [More]
According to allegations made by a Securities and Exchange Commission lawyer, released by Congressional investigators, the organization has illegally destroyed documents related to at least 9,000 preliminary inquiries over the past two decades. [More]
Treasury Secretary Henry Paulson wants to consolidate the nation’s financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren’t hampered by nuisances like regulation. After the jump we’ll explain the consumer impact of the plan and introduce you to your three new regulators.