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So far, I’ve managed to avoid picking up a Twitter habit, the popular micro-blogging platform that many of the cool kids use. It’s not because I’m stubborn or unwilling to adopt new technology. It’s because most of my updates — called Tweets — would look something like this: “Reading SEC filings” or “Still reading SEC [...]
Yesterday, the SEC sent out a media advisory alerting reporters of a press conference set for 2 p.m. today with both Chairman Chris Cox and Labor Secretary Elaine Chao to talk about ways the two agencies would work together “to protect approximately $5.5 trillion in retirement assets of investors nationwide.” It sounded pretty important. But [...]
On Wednesday the SEC released its second-ever ”ComplianceAlert.” (Gee, what ever happened to spaces between words?) The alert, addressed to SEC-regulated firms (e.g. broker-dealers and investment advisers), used a low-key tone but raised serious issues. For example, SEC examiners found some large broker-dealers to be surprisingly sloppy about verifying the values their trading desks assign to subprime mortgage-related products.
It’s disturbing to [...]
It’s only been a week since the SEC decided to “enhance investor protections” against naked short selling by limiting the practice at 19 companies, primarily large financial institutions including Lehman (LEH) and Citigroup (C). As Reuters reported over the weekend, the American Bankers Association thought that the new rule should be applied to all publicly [...]
There’s so much going on this morning, that it’s hard to know where to focus one’s attention. There’s the rescue of Fannie and Freddie, the deal for Anheuser-Busch (BUD) and yet another Powerpoint in the ongoing Yahoo (YHOO), Microsoft (MSFT) and Carl Icahn saga.
But at times like this, it’s always good to stick to [...]
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