Daily Archives: December 17, 2008, 11:59 pm

Securities Docket News Wire for Dec. 17, 2008

Report: Obama Selects Mary Schapiro as Next SEC Chairperson. http://is.gd/cfjB # SEC Insp. Gen. H. David Kotz May Try to Break Madoff Investigation into Pieces, Issue Reports on Rolling Basis. http://is.gd/cc5r # Law firm Holland & Knight establishes Madoff Advisory Group. http://is.gd/cbhB # U.S. Attorney General Mukasey recuses himself from Madoff investigation; Mukasey’s own synagogue was Madoff victim. http://is.gd/caSM #…

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Report: Obama Selects Mary Schapiro as Next SEC Chairperson

President-elect Barack Obama has chosen Mary Schapiro, CEO of FINRA, to be the next chairperson of the SEC, the WSJ reports tonight. The announcement is expected Thursday in Chicago. Ms. Schapiro, 53, is a former SEC commissioner (1988-1993), as well as a former chairman of the National Association of Securities Dealers.  In addition, she served in the Clinton administration in…

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SEC Inspector General H. David Kotz May Try to Break Madoff Investigation into Pieces, Issue Reports on Rolling Basis

In his stunning statement last night, SEC Chairman Cox said that he had directed a full and immediate review of the past allegations regarding Mr. Madoff and his firm and the reasons they were not found credible, to be led by the SEC’s Inspector General. The review will also cover the internal policies at the SEC governing when allegations such…

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Congress to open inquiry on SEC’s failure to pursue case against Madoff

Rep. Paul Kanjorski, chairman of the House Financial Services subcommittee on capital markets, said today that the House is planning to convene an inquiry into the failure of securities regulators to uncover an alleged $50 billion Ponzi scheme by Bernard Madoff after Congress returns on Jan. 6. As discussed here in detail, SEC Chairman Cox stated Tuesday evening that he…

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Universities, Pension Funds Conspicuously Absent from Madoff Victim List Thus Far

Conspicuously absent from the ever-growing list of Madoff victims (so far, knock on wood) have been large, institutional investors such as pension funds and universities.  Fortune reports today that this is no accident, as big institutions are typically required to stick to strict rules “rather than allowing their managers to invest on personal connections or hunches.” James Hedges IV of…

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SEC Holding Open Hearing Today at 10:00 am

The morning following its stunning announcement that it failed for almost a decade to thoroughly investigate credible, specific allegations that Bernard Madoff was running a fraudulent scheme, the SEC just happens to be holding an Open Meeting at its headquarters in DC.  Madoff is not on the pre-arranged Agenda, but as the Agenda itself states, “Open Meeting agendas are subject…

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