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Robert Khuzami made a splash, as intended, today when he announced the biggest Wall Street penalty in the SEC’s history, a $550 million deal with Goldman Sachs (GS). We’re just not sure the long-term view will be as kind. The blogosphere has been quick to blast the deal as too little, too soon. Goldman shares [...]
Over the last 30 years, the mimeograph has given way to PDF, and rotary dial phones have been replaced by voice dialing and Bluetooth headsets. Stock ownership has exploded into the middle class from the ranks of the elite. Meantime, the U.S. proxy process hasn’t changed much. Now the SEC is thinking about doing something [...]
Earlier this week, we looked at an unusual disclosure provision that was added to the Senate financial-regulation reform bill. But now that the Senate has passed the nearly 1,600-page legislation, with a 59-39 vote last night, it’s worth looking at some of its other, farther-reaching measures with the potential to reshape disclosure and corporate filings [...]
Today is one of those rare days when the markets are closed, but the SEC is open. And judging by our inbox so far, companies are certainly using this rare occurrence to happily file away undistracted by Mr. Market. We’ve already counted over 100 new alerts and it’s just 10:30 now. Since today is a [...]
We can’t speak for anyone else, but we’ll admit that we were caught off guard by the regulations that SEC Chairman Mary Schapiro unveiled at a press conference earlier today. In an unusually buoyant tone, Schapiro said that the new regulations would accomplish two key goals: Facilitate the work of the SEC’s Enforcement Division, which [...]
