Daily Archives: May 31, 2016, 3:23 pm

SEC targets companies who use made-up accounting metrics – MarketWatch

The Securities and Exchange Commission is taking another step to crack down on corporate use of numbers that the agency fears deceives investors. The SEC’s Division of Corporation Finance is forming an internal task force to closely review the use of “non-GAAP” numbers and whether companies respond to recently updated guidance on using these metrics. via SEC targets companies who…

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Ex-Barclays banker accused by U.S. of illegal tips to plumber | Reuters

According to the complaint, McClatchey began tipping the Long Island-based plumber, a friend, in 2013, enabling him to execute trades ahead of merger announcements involving 11 companies, including Forrest Oil Corp and PetSmart Inc. In exchange, the plumber made thousands of cash payments to McClatchey, in some instances placing cash in a gym bag that the banker brought with him…

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