Wall Street’s top cop has a lot to prove and it’s been taking no prisoners. After enduring a thorough thrashing for its supervision of the now-defunct Bear Stearns and missing Bernard Madoff’s $65 billion fraud, the Securities and Exchange Commission …
American International Group’s former chief executive Hank Greenberg agreed to pay $15 million to settle government allegations that he had cooked the books to inflate the insurer’s earnings in the first half of this decade, the Securities and Exchange Commission …
Congress must consider radical reforms to improve the accountability and reliability of credit rating agencies like Moody’s Corp. and McGraw-Hill Cos. Inc.’s Standard & Poor’s, a top U.S. lawmaker said Friday. Representative Paul Kanjorski, a senior Democrat on the House …
U.S. securities regulators are looking at ways to rely less on credit ratings and prevent issuers from shopping for their ratings, Securities and Exchange Commission Chairman Mary Schapiro told lawmakers Tuesday. Schapiro also said increasing the liability standard could improve …
The Obama administration plans to detail as soon as this week new measures to clamp down on potential conflicts of interest between compensation consultants and corporate executives, sources familiar with the administration’s thinking told Reuters Wednesday. The administration is considering …
The top U.S. accounting rulemaker denounced the “politicization” of accounting standards on Friday, three months after he was pressured by Congress to make changes that would help banks’ results. Financial Accounting Standards Board Chairman Robert Herz said lobbying by special …
The Obama administration’s ambitious draft plan to redraw U.S. financial regulation has been panned by banking groups, setting the stage for a bruising months-long battle among lawmakers and federal agencies. Signs have already emerged that political reality is forcing the …
The Obama administration is weighing if a new systemic risk regulator should have the power to conduct on-site examinations of banks, broker-dealers and other market players suspected of posing a threat to the U.S. financial system, a source familiar with …
A congressional panel will examine whether an optional federal charter for insurance companies is needed, the chairman of the U.S. House Financial Services Committee said Tuesday. The committee’s panel on insurance and capital markets is launching a series of hearings …
Lawmakers told the top U.S. accounting rulemaker to deliver new guidance on mark-to-market accounting within three weeks, or face legislation changing the rule that has forced banks to write down billions of dollars in assets. Financial Accounting Standards Board Chairman …
