U.S. Sen. Mark Warner asks SEC for answer to Nasdaq breakdown

Friday, August 23, 2013

WASHINGTON — U.S. Sen. Mark R. Warner (D-VA), a member of the Senate’s Banking Committee, sent the following letter today to Mary Jo White, chairman of the U.S. Securities and Exchange Commission. Sen. Warner asks White to look into Thursday afternoon’s three-hour breakdown in trading on the NASDAQ exchange. The text of Sen. Warner’s letter is […]

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Mysterious Nasdaq three-hour trading shutdown

Thursday, August 22, 2013

Mysterious Nasdaq three-hour trading shutdown

The Nasdaq exchange shutdown for three hours today affecting quote disseminatinon starting at 12:14 p.m. EST. All trading was frozen. CNBC stated that it was the longest shutdown at the exchange in recent memory. Nasdaq canceled no orders. “Nasdaq will not be canceling open orders on the book. Customers who wish to cancel their orders may […]

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Knight Capital floods NY Stock Exchange with erroneous trades

Friday, August 3, 2012

Knight’s computers experienced 45 minutes of trades flooding the New York Stock Exchange. Before it could be brought under control Knight lost $440 million jeopardizing its survival. Some stocks soared 100 percent Wednesday. Scottrade and TD Ameritrade resumed routing of trades with Knight Friday. Knight was able to secure a short term loan. Analyst are […]

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OppenheimerFunds to pay $35 million for misleading statements

Friday, June 8, 2012

OppenheimerFunds to Pay $35 Million to Settle SEC Charges for Misleading Statements During Financial Crisis Washington, D.C., June 6, 2012 – The Securities and Exchange Commission today charged investment management company OppenheimerFunds Inc. and its sales and distribution arm with making misleading statements about two of its mutual funds struggling in the midst of the […]

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Citigroup fined for not disclosing short positions to investors

Wednesday, October 19, 2011

“Washington, D.C., Oct. 19, 2011” – The Securities and Exchange Commission today charged Citigroup’s principal U.S. broker-dealer subsidiary with misleading investors about a $1 billion collateralized debt obligation (CDO) tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs of distress. The CDO defaulted within months, leaving […]

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J. P. Morgan Securities LLC charged in municipal bond fraud

Friday, July 8, 2011

In a call to Mary Hanson Regional Director for the SEC’s Philadelphia Regional Office she said the ongoing investigation did not allow her to disclose any of the 31 states or municipalities associated with the municipal bond transactions. She said, “the list of municipalities will be attached to the final judgement submitted to the court.” […]

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SEC charges Ashburn resident with insider trading

Thursday, May 26, 2011

Washington, D.C., May 26, 2011 – The Securities and Exchange Commission today charged Donald L. Johnson, 56 of Ashburn, Va. with insider trading on confidential information that he stole while working in a market intelligence unit that communicates with companies in advance of market-moving public announcements. Johnson was former managing director of The NASDAQ Stock […]

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Virginians among investors duped by subprime auto loan lender

Friday, April 15, 2011

Inofin had approximately 275 investors who resided in Virginia, the District of Columbia and twenty-five states, including Massachusetts, Maryland, Rhode Island, and Florida. Virginia’s State Corporation Commission (SCC) shows they were certified in 2/12/2004 with 200,000 registered shares of common stock. They are delinquent for 2011 owing an amount of $1463. The Securities and Exchange […]

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Board member of Goldman Sachs charged with insider trading

Tuesday, March 1, 2011

Robert Khuzami, Director of the SEC’s Division of Enforcement. “Directors who violate the sanctity of board room confidences for private gain will be held to account for their illegal actions.” Washington, D.C., March 1, 2011 – The Securities and Exchange Commission today announced insider trading charges against a Westport, Conn.-based business consultant who has served […]

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SEC complaint on sham global warming company pump-and-dump

Friday, February 18, 2011

SEC complaint on sham global warming company pump-and-dump

Washington, D.C., Feb. 18, 2011 — The Securities and Exchange Commission today charged a group of seven individuals who perpetrated a fraudulent pump-and-dump scheme in the stock of a sham company that purported to provide products and services to fight global warming. The SEC alleges that the group included stock promoters, traders, and a lawyer […]

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SEC clarifies circuit breaker rules in response to May 6 stock market melee

Tuesday, September 21, 2010

Washington, D.C. — The Securities and Exchange Commission today approved new rules submitted by the national securities exchanges and FINRA to expand a recently-adopted circuit breaker program to include all stocks in the Russell 1000 Index and certain exchange-traded funds. The SEC also approved new exchange and FINRA rules that clarify the process for breaking […]

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SEC measures curtail “pay to play” practices

Wednesday, June 30, 2010

Washington, D.C., June 30, 2010 — The Securities and Exchange Commission today voted unanimously to approve new rules to significantly curtail the corrupting influence of “pay to play” practices by investment advisers. Pay to play is the practice of making campaign contributions and related payments to elected officials in order to influence the awarding of […]

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