Daily Archives: August 6, 2009, 8:53 pm

SEC Files Settled Enforcement Actions Against Former CEO and CFO of AIG

The SEC today charged former American International Group Chairman and CEO Maurice “Hank” Greenberg and former Vice Chairman and CFO Howard Smith for their involvement in numerous allegedly improper accounting transactions that inflated AIG’s reported financial results between 2000 and 2005. The SEC alleges in its complaint that Greenberg and Smith were responsible for material misstatements that enabled AIG to…

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Khuzami Announces Major Enforcement Initiatives

In a speech yesterday before the New York City Bar Association marking the end of his first 100 days as Director of the SEC Division of Enforcement, Robert Khuzami formally announced several important changes to the Enforcement program. Full details are available in this post on my Enforcement Action blog over at Compliance Week.

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Securities Docket A.M. News Wire for August 6, 2009

Billion-Dollar Suit Filed Against Citi and Credit Suisse; 4 indicted for Dick’s Sporting Goods kickbacks, insider trading; SEC’s Schapiro calls for self-funding; Khuzami announces SEC’s plans for more subpoena power, specialized enforcement units; Jury Finds Jefferson Guilty, But Not of FCPA Charge; Madoff Litigator Jospeh Cotchett eyes new defendants in Madoff case; Austria: FMA to investigate OMV chief over share buy; CNBC Video: SEC’s Mary Schapiro on the Future of Flash Trading; No One’s Getting Paid in the Allen Stanford Case; and more.

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