Public companies using SEC filings to talk up diversity, but few sharing data
Eli Lilly and Co. included in its proxy statement an intricate graphic breaking down the presence of women and minorities in its overall workforce and in management.
SEC
Articles
Biden picks Chopra, Gensler for financial oversight roles
President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau. He announced the move Monday, along with his intent to nominate Gary Gensler as the next chair of the Securities and Exchange Commission.
Group led by ex-Brightpoint CEO launches 2nd, and bigger, blank check company
Novus Capital Corp II, a SPAC targeting businesses enabling smart technology evolution, filed Wednesday with the Securities and Exchange Commission to raise up to $250 million in an initial public offering.
Nasdaq seeks mandatory rule on board diversity for listed companies
The proposal filed with the U.S. Securities and Exchange Commission on Tuesday, if approved, would require all companies listed on the exchange to publicly disclose consistent, transparent diversity statistics about their board of directors.
Supreme Court rules SEC can recoup money in fraud cases
By an 8-1 vote, the justices ruled that the Securities and Exchange Commission can seek to recover the money through a process called disgorgement.
Musk ousted as Tesla chairman in SEC settlement, but will remain CEO
The settlement was reached two days after the SEC sued the billionaire over his tweeted claims to have had the funding and investor support to buy out stockholders at $420 a share.
SEC seeks to oust Tesla CEO Musk over go-private tweet
Peter Henning, a law professor and a former SEC lawyer, said it's the first fraud case involving use of social media by the CEO of a public company.
Trump asks SEC to study half-year company earnings reports
While some business leaders have groaned about the rigors associated with having to disclose financial figures four times a year, the SEC has been reticent to make any changes.
Indiana joins nationwide effort to crack down on cryptocurrency fraud
The effort, dubbed “Operation Cryptosweep,” is being coordinated by the North American Securities Administrators Association.
ITT failure a calamity, but former execs say not fraud
The SEC broadly charges that two former ITT Educational Services executives concealed from investors the “extraordinary failure” of two off-balance-sheet student loan programs ITT helped set up in 2009 after the financial crisis shut down the market for traditional private education loans.
Celadon gets six-month extension from NYSE to avoid delisting
The extension gives Celadon until May 2 to file several delinquent quarterly and annual financial reports with the Securities and Exchange Commission.
Celadon Group acknowledges investigation by SEC
The Indianapolis-based transportation company confirmed something that has been speculated for months: The trucking company is under investigation by the U.S. Securities and Exchange Commission.
ITT brass settled with SEC, but commissioners nixed deal
The SEC in a blistering 56-page suit had charged that the pair concealed the company’s rapidly eroding financial condition and “routinely misled” the firm’s outside accounting firm, PwC. It’s not clear what the terms of the settlements were.
Trump to pick deals lawyer Clayton to lead SEC
President-elect Donald Trump is expected to pick Sullivan & Cromwell partner Jay Clayton to run the Securities and Exchange Commission, positioning a top lawyer to banks and hedge funds to lead Wall Street’s main regulator.
Securities watchdog bans second broker in alleged Veros Ponzi scheme
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
Judge rejects Durham’s bid to dismiss SEC civil suit
The Indianapolis financier convicted of operating a Ponzi scheme failed to persuade a federal judge to dismiss the government’s civil action against him and other convicted accomplices.
Veros investors out millions could recoup more than usual
The receiver appointed to recover investor losses from an alleged Ponzi scheme said he’s retrieved in five months about 20 percent of what investors were owed, a figure experts say is relatively high at this stage for such cases.
Business owner ordered to pay $643K for securities fraud
Timothy E. Cook funded his personal expenses by falsely promoting stock in his Indianapolis-based cancer research firm Xytos Inc. long after it had ceased operations, according to a federal court ruling.
City Securities paying $250K as part of SEC settlement
City Securities Corp. has agreed to pay $250,000 as part of an industry-wide settlement with the Securities and Exchange Commission over disclosure shortfalls in municipal bond offerings.
UPDATE: SEC hits ITT Educational, execs with fraud charges
ITT Educational CEO Kevin Modany and Chief Financial Officer Daniel Fitzpatrick allegedly “engineered a campaign of deception and half-truths” to hide from investors the extent of losses ITT was suffering from student loan programs, the SEC said Tuesday morning.