Standard & Poor’s, whose unprecedented downgrade of U.S. debt triggered a worldwide stocks sell-off, is pushing back against a U.S. government proposal that would require credit raters to disclose “significant errors” in how they calculate their ratings. S&P, which was …
Bank of America Corp.’s legal losses could cost as much as $2.3 billion above money already set aside to cover litigation, the largest U.S. bank by assets said in a securities filing. BofA raised the possible legal loss estimate by …
The U.S. Securities and Exchange Commission has asked insurer American International Group (AIG) to provide more disclosure about how and why it assigns credit ratings to investments in its portfolio, according to letters between the regulator and the company disclosed …
In a major victory for victims of Allen Stanford’s alleged Ponzi scheme, U.S. regulators have concluded that they should be compensated by a brokerage industry-backed fund. The decision announced Wednesday by the U.S. Securities and Exchange Commission comes nearly two …
U.S securities brokers would be more closely scrutinized by accountants and be subject to stricter rules for how they handle their customers’ assets under a plan proposed by federal regulators Wednesday. The proposal by the Securities and Exchange Commission is …
Corporate whistleblowers could score multi-million-dollar payouts for reporting financial wrongdoing under a new program approved by U.S. securities regulators on Wednesday. A divided U.S. Securities and Exchange Commission voted 3-2 to finalize the measure that has grown into one of …
Accountants at the U.S. securities regulator are recommending that medium-size public companies should not be exempted from a key auditing provision in the 2002 Sarbanes-Oxley Act, saying the benefits to investors outweigh the cost. In a new study by the …
Warren Buffett’s Berkshire Hathaway took nearly $1 billion in writedowns on three stocks last quarter under pressure from U.S. regulators who disagreed with the company’s accounting for losses in those shares, according to a series of letters released Monday. The …
When companies are looking at bad earnings news, a new study from the University of Iowa suggests it’s best for executives to remember what they learned as kids. “If a child does something wrong and tells his mother about it, …
