One of the staunchest critics of the Dodd-Frank Act says a full repeal of the financial reform law isn’t in the cards. Rep. Scott Garrett (R-N.J.) said legislation to strike down the law, now pending in the House and the Senate, won’t pass. “That ain’t gonna happen,” he said Thursday night during remarks at a […]
The Securities and Exchange Commission today charged two executives at a Dallas-based medical insurance company with operating a $10 million Ponzi scheme that victimized at least 80 investors. The SEC alleges that Duncan MacDonald and Gloria Solomon solicited investments for Global Corporate Alliance (GCA) by promoting it as a proven business with a strong track […]
The Securities and Exchange Commission today charged that the City of Victorville, Calif., a city official, the Southern California Logistics Airport Authority, and Kinsell, Newcomb & DeDios (KND), the underwriter of the Airport Authority’s bonds, defrauded investors by inflating valuations of property securing an April 2008 municipal bond offering. Victorville Assistant City Manager and former […]
The U.S. Senate on Monday confirmed former federal prosecutor Mary Jo White as the new head of the U.S. Securities and Exchange Commission, the agency tasked with policing Wall Street and writing new rules of the road for financial markets. White received wide bipartisan support in the Senate thanks to her reputation as a tough […]
Signaling the possibility of an aggressive new strategy for regulating Wall Street, President Obama today nominated Mary Jo White, a former U.S. Attorney for the Southern District of New York and high-profile prosecutor, to head up the Securities and Exchange Commission. Mr. Obama, in remarks announcing the nomination this afternoon, lauded White for her career […]