Securities and Exchange Commission News

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Senator Questions Goldman Execs' Testimony

Douglas Graham, Roll Call / Getty Images

WASHINGTON -- The head of a Senate panel investigating the financial crisis is questioning the accuracy of testimony Goldman Sachs executives gave to Congress last year about whether the firm steered investors toward mortgage securities it knew would likely fail. Goldman Sachs and Co. agreed in July to pay $550 million to...

Huge Insider Trading Case Features Multibillion-Dollar Deals, Wiretaps

NEW YORK -- The largest insider trading case to hit the U.S. in decades has all the elements of a highly charged courtroom drama involving powerful players on Wall Street, their secretly recorded phone conversations and deals worth billions of dollars. Federal prosecutors charge that Raj Rajaratnam made $45 million from...

SEC's Porn-Watching Employees Earned Over $200,000 Per Year

It's safe to say that spending eight hours of company time watching pornography would get most workers canned. Not so at the Securities and Exchange Commission, it seems. New documents regarding a 2005-10 investigation into the agency's porn-surfing employees reveal that several workers were "disciplined" for downloading...

Madoff to Magazine: 'Government Is a Ponzi Scheme'

NEW YORK -- Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme. "The whole new regulatory reform is a joke," Madoff said during a telephone interview...

Britain Slaps Goldman Sachs With $27 Million Fine

LONDON (Sept. 9) -- Britain's financial watchdog this morning slapped Goldman Sachs with a $27 million fine, after the Wall Street giant failed to tell the regulator that it was under investigation for fraud in the U.S. The penalty -- the second-largest ever issued by Britain's Financial Services Authority -- is yet...

Background on Securities and Exchange Commission

The U.S. Securities and Exchange Commission (frequently abbreviated SEC) is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States.

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