Daily Archives: June 30, 2017, 2:11 pm

SEC Hires Congress Liaison, Sources Say – Bloomberg

Bryan Wood, a former Republican staff member on the House Financial Services Committee, started recently as head of the SEC’s legislative and intergovernmental affairs office, said two people familiar with the matter. Wood will serve as Clayton’s eyes and ears on Capitol Hill, an important job because the SEC depends on Congress to approve its budget, and lawmakers of both…

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SEC Said to Scrutinize Hedge Funds’ Handling of Hot IPO Shares – Bloomberg

U.S. regulators are scrutinizing how hedge funds and other money managers divvy up the stock they get from hot initial public offerings due to concerns that highly lucrative trades are inappropriately enriching a select few, said three people familiar with the matter. Investment firms typically oversee multiple funds, and the Securities and Exchange Commission is asking how they dole out shares of…

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PwC probed by accounting watchdog over scandal at BT’s Italian division

Global audit giant PwC is being investigated by U.K. regulators over a scandal involving broadcaster BT’s Italian division, which has been blighted by claims of “inappropriate management behavior” and “historic accounting errors.” The Financial Reporting Council (FRC) announced on Thursday that it would be investigating the audits by PricewaterhouseCoopers LLP (PwC) of BT’s financial statements from 2015 to 2017. It…

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