The infamous “disclosure schedule”
At the bottom is the SEC's latest brief for Judge Rakoff. Having gone through BofA's, one finds --publicly disclosed for the first time -- the "disclosure schedule" that outlined bonuses BofA had...
View ArticleDude, what happened to my 10K Wizard
I’m a big fan of 10K Wizard. I have been for years. It’s a far better way to search SEC filings than using Edgar–even though it costs money. So it didn’t surprise me that Morningstar bought 10K Wizard...
View ArticleMadoff verdict: The SEC is plain incompetent
A lengthy report examining the many ways the Securities and Exchange Commission botched its investigations of Bernie Madoff tells us something we already knew: the SEC can be awfully incompetent. The...
View ArticleThe SEC’s animal house
Mary Schapiro wants her lawyers and investigators at the Securities and Exchange Commission to go back to school. Specifically, she wants them to enroll in something she calls “fraud college.” From...
View ArticleRakoff throws down the gauntlet
Judge Rakoff has rejected the settlement deal between the SEC and Bank of America. He clearly wasn't happy with it to begin with, and subsequent briefs from the two parties did nothing to allay his...
View ArticleSEC’s flash in the pan
Securities regulators will often settle for the proverbial low-hanging fruit — prosecuting easy cases that don’t make a big difference in the way Wall Street operates. But it does give the appearance...
View ArticleCalling all HFT victims
Now that the SEC has rebuffed my request to gather information about investor complaints about high-frequency trading, I’m calling on you for help. If you have sent a complaint in the past year...
View ArticleFinra messed up, what a shock
The report by Finra on its failure to detect the alleged Ponzi scheme at Allen Stanford’s offshore bank is no shock. Finra makes the SEC look like an agressive regulator. And this should give anyone...
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Afternoon links 1-13
Must Read -- Kyle Bass: Testimony before the FCIC (fcic.gov) Bass is a hedgefunder that made big profits betting against subprime. His testimony has many fascinating facts and figures. [The pie charts...
View ArticleMorning Links 1-27
Note: Apologies for no links yesterday. Busy day writing columns! SEC to vote on new money fund rules (Johnson, WSJ) Unfortunately, the SEC won't do away with $1 NAVs, price fluctuations will be...
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