A Securities and Exchange Commission action against Jamie Solow, a former stockbroker who is accused of allegedly taking part in a fraudulent trading scheme involving unsuitable and risky securities, including collateralized mortgage obligations, will not be dismissed, says the U.S. District Court for the Southern District of Florida. According to…
The SEC is considering a new policy that could let companies resolve shareholder complaints via arbitration. If adopted, this policy could limit a shareholder’s ability to sue the company in court. A move toward arbitration could shift the balance of power between corporate managements and shareholders during a time when…
The U.S. Court of Appeals for the District of Columbia Circuit ruled last week that the U.S. Securities and Exchange Commission went beyond its authority to promulgate a rule exempting broker-dealers that offer investment advice to clients with fee-based accounts from regulation under the 1940 Investment Advisers Act. The SEC…
Securities and Exchange Committee Chairman Christopher Cox could lose the confidence of investors, and quite possibly, Congress, if he and the other appointed commissioners continue to pursue their chosen path of action. The SEC has taken steps to reduce the chances of lawsuits being filed against auditing firms, corporations, and…
The AAJ (American Association for Justice) is asking Securities and Exchange Commission Chairman Chris Cox and General Counsel Brian Cartwright to address media reports that the SEC thought about supporting Merrill Lynch & Company during attempts by Enron shareholders to hold Enron banks accountable. The AAJ wants the SEC to…