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The Heritage Foundation argues that the SEC has no lack of money and has actually been the recipient of “huge budget increases” to the point that it has become “unwieldy and unresponsive.” SEC Chair Mary Jo White, however, has stated that the current level of resources is not even sufficient to enforce compliance with the […]
The largest bank in the US, JPMorgan, has filed a patent for an electronic currency with many similarities to bitcoin. At no point in the lengthy patent application is there any reference to bitcoin or any other existing crypto-currency, but there is a claim that the work would represent a “new paradigm for effectuating electronic […]
The key to fraud is deception. The fraudster lies to his victims, in order to take their money. Even if you think that insider trading is bad, you can’t really say with a straight face that it is an act of deception. You can quibble about fairness and level playing fields, but insider trading does […]
Get caught up with the Securities Docket News Wire for December 10, 2013.
“We’re looking at non-GAAP measures,” said David Woodcock, chairman of the SEC’s new Financial Reporting and Audit Task Force, referring to companies’ customized measures that don’t comply with generally accepted accounting principles, or GAAP. Mr. Woodcock, who was speaking at an American Institute of Certified Public Accountants conference, didn’t mention any specific companies that the […]