Sen. Charles Grassley is calling into question the Securities and Exchange Commission's response to allegations that top officials in the Fort Worth office retaliated against employees who raised concerns about an agency examination program that was later abandoned. Grassley (Iowa), the ranking Republican on the Senate Finance Committee, has asked for a briefing from top SEC officials about the treatment of two employees in the Fort Worth office.
Notes on the SEC and Countrywide and the FTC and Intel.
"U.S. securities regulators are investigating whether people may have illegally profited from trading on nonpublic information at BP Plc in the weeks and months following the disastrous Gulf of Mexico oil spill, two sources familiar with the investigation said on Monday. The U.S. Securities and Exchange Commission is also investigating whether BP properly disclosed information on risks related to its deepwater oil operations in the Gulf of Mexico, one of the sources said."
Citigroup, one of the nation's largest banks, agreed Thursday to pay $75 million to settle a Securities and Exchange Commission complaint that it misled investors about $40 billion of its holdings in sub-prime mortgage investments that sent the bank...
Fox is trying to get documents from the SEC related to why the agency failed to catch the Bernard Madoff and R. Allen Stanford frauds. These failures cost thousands of investors billions of dollars, and the agency probably should comply with Fox's request, even if it means the commission would have to vote to override the agency's confidentiality rules.
With powerful senators watching with a close eye, federal investigators search and search for evidence of insider trading in shares of Microsoft. One of Wall Street's best-known hedge fund managers is targeted, but the feds can't find proof. Years pass and they close the case. Then a nasty, and apparently unrelated, divorce battle ensues in Connecticut. A woman discovers evidence potentially implicating her husband and the hedge fund. Investigators believe they've found a smoking gun, shut down the fund and assess tens of millions of penalties. And then they pay $1 million to the woman for ratting on her ex.