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Khuzami: SEC Investigation Into BofA Has Widened
Enforcement Director Khuzami testified Friday about widening scope of investigation.
Judge Orders Scrushy to Alabama for Testimony on Assets
Court orders Scrushy must submit to sworn testimony on his financial assets.
SEC Considering Bounty Program for Financial Fraud Tips
In her testimony yesterday before the House Subcommittee on Financial Services, SEC Chairman Mary Schapiro told Congress that for the first time, the SEC is considering offering cash bounties to private sector whistleblowers who help expose financial wrongdoing. The SEC’s current “bounty” program applies only to insider trading cases, not financial fraud.
“Right now, the main [...]
Transcript: March 11, 2009 Prepared Testimony of SEC Chairman Mary Schapiro Before House Financial Services Subcommittee
Testimony
Before the Subcommittee on Financial Services and General Government
Committee on Appropriations
U.S House of Representatives
March 11, 2009
Mary Schapiro
Chairman
U.S. Securities and Exchange Commission
Chairman Serrano, Ranking Member Emerson, Members of the Subcommittee: Thank you for the opportunity to testify today on behalf of the Securities and Exchange Commission.
I am pleased to have the opportunity to discuss the Commission’s [...]
Testimony of SEC’s Linda Thomsen Before Senate Banking Committee (Madoff Matter)
TESTIMONY OF LINDA CHATMAN THOMSEN
DIRECTOR, DIVISION OF ENFORCEMENT
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Before the
United States Senate Committee on Banking, Housing and Urban Affairs
Concerning Investigations and Examinations by the
Securities and Exchange Commission and
Issues Raised by the Bernard L. Madoff Investment Securities Matter
Tuesday, January 27, 2009
Good morning [...]
The Lessons of Eminem’s “8 Mile” for Fannie Mae and Freddie Mac Executives
Stop reading now if you did not like (or bother to see) Eminem’s movie “8 Mile.”
Hey … where did everybody go?
OK, for the three of you who are still reading, Joe Weisenthal of Clusterstock has some original advice for the heads of Fannie Mae and Freddie Mac who must testify next month on Capitol Hill. [...]
SEC Chairman Cox: “If the SEC Did Not Exist, Congress Would Have to Create It”
This morning, SEC Chairman Christopher Cox provided lengthy testimony concerning the role of federal regulators to the House Committee on Oversight and Government Reform.
He delivered an impassioned statement about the need for the SEC to remain a strong, independent regulator and enforcer of the securities laws in the future, stating that “If the SEC did [...]
Former SEC Chairman Levitt Lays Blame on SEC, Calls for Rejuvenation of Agency
Arthur Levitt, chairman of the SEC from 1993 to 2001, harshly criticized the SEC for what he considers to be its failures in recent years — failures which he believes contributed to the current financial crisis. In his testimony before the Senate Banking Committee today, Levitt stated that
“As the markets grew larger and more complex [...]
SEC’s Thomsen: Focus of SEC’s ARS Investigations Turning to Individuals
On September 18, the SEC’s Linda Chatman Thomsen, Director of the Division of Enforcement, testified before the U.S. House of Representatives Committee on Financial Services. Thomsen’s testimony focused on the SEC’s response to the meltdown of the auction rate securities market in mid-February 2008.
Thomsen praised the “tremendous level of cooperation by state and federal regulators” [...]