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Securities Docket News Wire for May 14, 2013
Get caught up with the Securities Docket News Wire for May 14, 2013.
SEC Charges ‘Imaginary’ Cloud Computing Business with Financial Fraud – Compliance Week
The SEC brings dozens of financial fraud cases each year. Usually the cases involve companies that, in an effort to make the numbers expected of them by investors, violate GAAP in order to recognize more revenue, hide expenses, inflate assets, etc. In most cases, of course, there is an underlying business at these companies that […]
Senator Warren wants bank settlements to be justified — Reuters
In a May 14 letter to the heads of the Federal Reserve, the Securities and Exchange Commission and the Justice Department, Massachusetts Democratic Senator Elizabeth Warren asks the agencies to provide her with details of how they weigh the costs and benefits of settling versus trying cases. “If a regulator reveals itself to be unwilling […]