Regulation & Compliance: Page 43
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xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Delisting Dilemmas
From retailers and rent-a-car companies to banks and radio networks, the number of companies facing stock-exchange delisting is mounting by the day. Nasdaq booted a total of 85 companies for failing to meet listing requirements (or going bankrupt) in 2008, while the New York Stock Exchange (NYSE)...
By Kate Plourd • Feb. 1, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
The Next Wave
The wounds of recession often encounter a particularly painful form of salt: litigation. Corporate attorneys stand ready to pour it on if they sense weakness in a rival, or as a way to compensate for their own economic woes. At the same time, regulators have gotten more aggressive, and the costs ...
By S.L. Mintz • Feb. 1, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Ex-CFO Confesses to Tax Evasion
The former CFO of GlobeTel Communications has pled to tax-evasion charges, federal regulators have announced.Thomas Jimenez was charged earlier this month on a single count of obstructing and impeding the due administration of the tax laws. According to regulators, he was responsible for preparin...
By Stephen Taub • Jan. 30, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Judge: OK to Sue Deloitte over Parmalat
In a ruling that could have sweeping implications, a federal judge says plaintiffs can sue Deloitte & Touche, its former CEO, and its affiliates for the role of the firm’s Italian affiliate in the collapse of Italian dairy giant Parmalat Finanziaria in 2003.Deloitte Touche Tomatsu “exercised ...
By Stephen Taub • Jan. 30, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Big Government Fights Back
Few now doubt that the world economy is in its most parlous state since the 1930s. Demand is slumping across the globe as firms and consumers are battered by a pernicious, self-reinforcing bombardment of dysfunctional financial markets, falling wealth, higher unemployment and rampant fear. The IM...
By Economist Staff • Jan. 29, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Obama Rallies Business Allies
Taking a page directly out of the playbook of his immediate predecessor, President Barack Obama on Wednesday convened a meeting of business leaders and then trotted them out to promote legislation he wants – in this case the $825 billion stimulus bill up for a vote in the House today.Appearing in...
By Roll Call Staff • Jan. 28, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Jabil Circuit Settles Last of Backdating Issues
Jabil Circuit can finally put its stock option backdating problems behind it. It announced that a U.S. District Court dismissed with prejudice a class action lawsuit filed against it, its directors and certain current and former officers, and KPMG LLP.The maker of electronic components for mobile...
By Stephen Taub • Jan. 28, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Dollar Thrifty Is First Firm to Get NYSE Market-cap Break
The New York Stock Exchange, which had announced a temporary relaxation of its listing requirements in light of the rapid market-capitalization decline of many of its listed firms, applied a new, lower threshold in not delisting Dollar Thrifty Automotive Group shares.The Big Board acknowledged th...
By Stephen Taub • Jan. 27, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Ex-AIG Exec Gets Four Years in Fraud Scheme
A federal judge sentenced a former American International Group executive to four years in prison for his role in a $500-million fraudulent scheme to manipulate AIG’s financial statements. The ex-AIG vice president of reinsurance, Christian M. Milton, together with four former officials of AIG’s ...
By Stephen Taub • Jan. 27, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
State and Local Government Deficits Soar: GAO
Projected operating deficits of state and local governments have sharply risen, and now are estimated to total $312 billion over a two-year period, the Government Accountability Office says in a new calculation. The operating deficit will be about $131 billion for 2009 and $181 billion for 2010, ...
By Stephen Taub • Jan. 27, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Hayes Lemmerz Fines: $50,000 for CFO, $10,000 for CEO
A federal court fined and imposed a $50,000 fine on a former CFO of Hayes Lemmerz International Inc., and a $10,000 fine on a former CEO, after a jury earlier found that the two men had violated securities laws in an accounting scheme.The U.S. District Court for the Eastern District of Michigan f...
By Stephen Taub • Jan. 26, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Schapiro Distances Herself from Cox
Companies that try to stay on top of the ever-changing regulations coming out of Washington may have to shift gears under the new Securities and Exchange Commission leadership. Incoming chair Mary Schapiro — the Democrat whose nomination by the Senate was approved last week — plans to slow down s...
By Sarah Johnson • Jan. 26, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Cunning Moneyman
There are two true grey eminences in the economic-policy world today. These two old men, a year either side of 80 and either side of the Atlantic, are called in when political and economic problems are deemed either intractable or scary. Their appointment calms nerves and sends a message that the...
By European Voice Staff • Jan. 26, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Finance Sends Geithner’s Nomination to Full Senate
The Senate Finance Committee on Thursday voted 18-5 in favor of Timothy Geithner’s nomination to serve as Treasury secretary after a temperamental hearing one day earlier that included a few lashings from Republican Senators.Voting against the nomination were the Finance Committee’s ranking membe...
By Roll Call Staff • Jan. 22, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Cox Leaves the SEC, Quietly
Yesterday, Barack Obama’s inauguration day, Christopher Cox stepped down as the chairperson of the Securities and Exchange Commission after more than three and a half years on the job. On Wednesday evening, the president named Elisse Walter, the senior Democrat on the commission, as acting chairp...
By David Katz • Jan. 21, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Growing Insecurities
When Christopher Cox took over the Securities and Exchange Commission (SEC) in June 2005, George Bush praised him as “a champion of the free-enterprise system” who understood that it was “built on trust”. These days unfettered capitalism is under siege and trust is in short supply — not least tr...
By Economist Staff • Jan. 16, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Mary Schapiro Vows to Be Tough Enforcer
President-elect Barack Obama’s choice to chair the Securities and Exchange Commission, Mary Schapiro, used her Senate confirmation hearing today to deflect critics who accuse her of being soft on enforcement during her tenure as head of the Financial Industry Regulatory Authority.“I have never be...
By Sarah Johnson • Jan. 15, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Pelosi Unveils $825 Billion Stimulus
House Speaker Nancy Pelosi (D-Calif.) outlined an $825 billion economic stimulus package Thursday morning that she said would be marked up in committees next week.The plan includes $550 billion in new spending and $275 billion in tax cuts, with major investments in roads, education, and health ca...
By Roll Call Staff • Jan. 15, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Hard Times
The shutters have come down. The lights are out and the signs are being removed. On high streets and in shopping centres across the country once proud stores are being hollowed out, casualties of Britain’s retail slump. Experian, a credit-scoring firm, reckons that by the end of 2009 almost one i...
By Economist Staff • Jan. 15, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
GAO: Fix Our Broken Regulatory System
The nation’s fragmented financial regulatory system is well beyond retirement age and ready for replacement, says a report released Friday from the Government Accountability Office. With the nation in the midst of a severe financial crisis, the GAO report is the latest in a slew of official and u...
By Tim Reason • Jan. 12, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Indian Cops Cuff Confessed Fraudster
The former chairman of Satyam Computer, who admitted last week to cooking the Indian outsourcing firm’s books, was arrested Friday, the Associated Press reported.B. Ramalinga Raju, who founded the firm, and his brother, B. Rama Raju, were arrested in the southern city of Hyderabad, according to t...
By Stephen Taub • Jan. 9, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Waiting for God-Only-Knows-What
During one of his debates with Barack Obama, John McCain, the Republican candidate, kept referring to the “fiscal crisis” when he meant “financial crisis.” Perhaps he was on to something.On January 7th the Congressional Budget Office (CBO), a non-partisan outfit, released projections that show th...
By Economist Staff • Jan. 8, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
For Commercial Real Estate: Let’s Make a Deal
As the deteriorating economy spreads to the commercial real estate sector, there could be good news for companies that rent office or industrial space. It figures to become less costly in the near future. In a new study, commercial real estate services and investment firm Grubb & Ellis predic...
By Stephen Taub • Jan. 6, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
SEC Names Kroeker Acting Chief Accountant
The Security and Exchange Commission’s deputy chief accountant, James Kroeker, has been named acting chief accountant by SEC chairman Christopher Cox. Kroeker replaces Conrad W. Hewitt, who retired from the position on Monday. Kroeker, who has served in his current position since February 2007, w...
By Kate Plourd • Jan. 6, 2009 -
xdfolio. "Policies Standards Compliance" [Illustration]. Retrieved from Pixabay.
Ex-GlobeTel CFO Now Faces Tax Charges
A finance executive already facing civil charges from government regulators is now in deeper trouble, charged with criminal tax evasion. If convicted, Thomas Y. Jimenez, former CFO of GlobeTel Communications Inc., could be sentenced to as much as three years in prison and one year of supervised r...
By Stephen Taub • Jan. 6, 2009
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