Securities Docket News Wire for Dec. 23, 2008

Reserve Management Co. says SEC’s Enf. Division has recommended enforcement action against co. and senior executives. http://is.gd/ddsJ #
Video: Fox Business Network Tracks Down Madoff Auditor. http://is.gd/dcWg #
Madoff-related class action filed in SDNY against Tremont Group, KPMG, others. http://is.gd/dbfZ #
Former stockbroker arrested, charged with conspiring with Marc Dreier to commit fraud by selling fake promissory notes. http://is.gd/d9wH #
Judge Posner: If SEC abolished, “Bernard Madoff and Christopher Cox can share the credit.” http://is.gd/d9j2 #
After 6 mos. of testimony, lawyer for Drabinsky in Livent fraud trial submits final written arguments to Ontario court. http://is.gd/d8Vb #
Fiat Pays $17.8 Million to Settle FCPA Charges. http://is.gd/d89j #
Investigators believe Madoff’s initial trading strategy failed, and he has made very few, if any, actual trades in years. http://is.gd/d87D #
Madoff Victims Who Withdrew Funds from Accounts May Have to Return Up to 6 Years of Profits, Principal. http://is.gd/d81i #
Investors file class action lawsuit against MassMutual seeking to recover losses in Bernard Madoff scandal. http://is.gd/d7WT #
Freenet CEO Spoerr to step down next month, will defend himself against insider trading charges in a Hamburg court. http://is.gd/d7RH #
NY investor files $1.7 million claim against SEC for negligence in Madoff probe. http://is.gd/d7ew #