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Tag Archives: U.S. Securities and Exchange Commission

Derivatives bill’s loophole may exempt firms, Gensler says

Legislation by Rep. Barney Frank to tighten derivatives regulation contains an exemption that may let most financial firms escape new collateral and disclosure rules, the head of the Commodity Futures Trading Commission said. The provision is among several loopholes in ...

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GE’s fraud case could use a judge gone wild

Finally a judge has dared say no to the once-venerable Securities and Exchange Commission and one of its cozy corporate settlements. If that wasn’t novel enough, this fellow first had the nerve to ask the SEC a bunch of questions ...

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Former bank officer to spend year in prison, pay $25 million restitution

Former president of First Bank Mortgage Mark Turkcan was sentenced to one year and one day in prison for the misapplication of $35 million. A federal judge also ordered him to pay restitution of nearly $25 million. Turkcan, 54, pleaded ...

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KV Pharmaceutical sues Citigroup over auction-rate securities

KV Pharmaceutical Co., a St. Louis-based drug company, sued Citigroup Global Markets Inc., claiming the investment banking unit compelled it to buy $73.9 million worth of illiquid auction-rate securities. The Citigroup unit misled KV, telling it that the securities were ...

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Nation Briefs

Blagojevich seeks to disqualify Fitzgerald from case Illinois Gov. Rod Blagojevich, accused of trying to sell the vacant U.S. Senate seat of President-elect Barack Obama, asked a judge to disqualify Chicago U.S. Attorney Patrick Fitzgerald from the case. In papers ...

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