securities and exchange commission

15Dec

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Health

The SEC Contradicts Itself

Hedge funds challenge two new disclosure rules, for short selling and securities lending, that are at odds with each other.

16Nov

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Business

Proxy Advisers and Double Standards

Gary Gensler has brought down the hammer on public companies that have allegedly misled investors. But when proxy advisers have done the same, the Securities and Exchange Commission Chairman looks the other way, as a new report by the American Council for Capital Formation (ACCF) documents.Glass Lewis and Institutional Shareholder Services provide asset managers, pension funds and university endowments with recommendations on how to vote on corporate proxy resolutions. They can assist institutional investors that lack in-house resources to conduct due diligence before voting on thousands of ballot measures. Together they make up about 90% of the proxy advisory market, and it’s a profitable business.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c...

4Nov

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World

Sam Bankman-Fried and the SEC

Sam Bankman-Fried charmed investors and politicians, but he wasn’t so fortunate with a federal jury. On Thursday the former FTX crypto-exchange kingpin was convicted of seven counts of fraud and money-laundering. Note to Chairman Gary Gensler: The Securities and Exchange Commission doesn’t need to regulate crypto markets to police malfeasance.After FTX imploded last autumn, some $9 billion in customer deposits went missing. Prosecutors showed that Mr. Bankman-Fried used the money to fund risky investment bets and cover losses at his Alameda Research trading house, buy influence in Washington, and acquire real estate in the Bahamas. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

2Nov

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Health

Gary Gensler and the SEC Lose Again

Is Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. SEC.)The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

14Oct

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World

What is Gary Gensler Hiding?

The Securities and Exchange Commission duns companies for internal blunders and disclosure lapses that don’t harm investors. Yet now Chairman Gary Gensler is refusing to come clean about the agency’s own internal data breach and possible staff misconduct.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8