Latest Securities and Exchange Commission (SEC) News: Finextra Research

SEC files fraud charges against healthcare banking tech firm

The Securities and Exchange Commission (SEC) has filed fraud charges against Canopy Financial, a provider of healthcare banking technology, and frozen the assets of its co-founder who allegedly provided investors with forged financial statements to lure them into a $75 million investment scheme.

03 December 2009

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SEC charges computer programmers over Madoff fraud

The Securities and Exchange Commission has charged two computer programmers accused of helping Bernard Madoff cover up his multi-billion dollar Ponzi scheme.

13 November 2009

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As dark pool debate rages, Credit Suisse Crossfinder records best ever day

Despite growing scrutiny from regulators, the popularity of dark pools shows no signs of abating in the US, with Credit Suisse's Crossfinder ATS recording its strongest ever day this week, claiming half a billion shares traded.

30 October 2009

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Finra forms Social Networking Task Force

US regulatory body Finra has formed a Social Networking Task Force to explore the compliance challenges posed by new Web 2.0 communications channels, such as FaceBook, LinkedIn, and Twitter.

29 October 2009

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SEC sets sights on sponsored access and exchange co-location

After taking on dark pools and flash orders, the Securities and Exchange Commission has now turned its attention to high frequency trading and the practice of sponsored access to exchanges.

27 October 2009

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SEC proposes dark pool rules; institutions divided over merits of high frequency trading

The US Securities and Exchange Commission has unveiled proposals aimed at shedding more light on dark pool trading by introducing new rules that would require enhanced public disclosure of stocks passing over alternative trading networks.

21 October 2009

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SEC fines broker-dealer $100,000 over computer security failures

US broker-dealer Commonwealth Financial Network has been fined $100,000 for failing to insist its registered representatives maintain anti-virus software on their computers. The failure led to an intruder gaining access to the firm's Intranet, accessing customer accounts and entering unauthorised purchase orders worth over $523,000.

20 October 2009

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SEC and CFTC propose joint IT task force

The Securities and Exchanges Commission and Commodity Futures Trading Commission want to create a joint IT task force as part of a wider move to harmonise their work and improve cooperation.

20 October 2009

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IBM exec among six charged over tech insider trading scheme

A top IBM executive is among six people charged by US authorities over an alleged $20 million hedge fund insider trading scam involving some of the world's biggest technology companies.

19 October 2009

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SEC to extend dark pool probe

The Securities and Exchange Commission is to extend its regulatory probing of dark pools to include issues surrounding high frequency trading, direct market access and co-location.

09 October 2009

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SEC approves new rules to deal with erroneous trades

The Securities and Exchange Commission has approved new rules designed to limit the potential for systemic damage from fat-fingered or computer-generated erroneous trades.

06 October 2009

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SEC proposes flash ban; takes aim at credit rating agencies

The Securities and Exchange Commission (SEC) has proposed a ban on flash orders and agreed to tighten the supervision of credit ratings agencies.

18 September 2009

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