Latest U.S. Securities and Exchange Commission News

Editorial Roundup: Georgia

Mar. 25, 2020 2:27 PM EDT

Recent editorials from Georgia newspapers: ___ March 22 The Augusta Chronicle on finding new ways to worship: Thankfully, America’s freedom of religion allows people not only to worship how they choose, but to choose not to worship. Amid coronavirus concerns, it’s easy to do either one. On March...

A man wears a mask as he walks in the train station in Florence, Italy, Tuesday, March 10, 2020. Italy entered its first day under a nationwide lockdown after a government decree extended restrictions on movement from the hard-hit north to the rest of the country to prevent the spreading of coronavirus. (Jennifer Lorenzini/LaPresse via AP)

Economic toll of virus goes global and hits close to home

Mar. 10, 2020 7:53 PM EDT

Seven weeks after the first case of COVID-19 was confirmed in the U.S., the spread of the virus that causes the disease has done widespread damage to critical economic sectors in the country. Airlines are cutting capacity, people are working from home, major public events that raise millions of dollars for local...

FILE - In this Aug. 5, 2017, file photo U.S. Securities and Exchange Commission building in Washington. Securities and Exchange Commission employees have been told to work remotely for the foreseeable future after a coronavirus scare at the agency's Washington headquarters. The agency, said it was informed Monday, March 9, 2020, that a headquarters employee had received medical treatment for respiratory symptoms earlier in the day. (AP Andrew Harnik, File)

SEC asks DC workers to telecommute after employee is treated

Mar. 10, 2020 7:47 PM EDT

WASHINGTON (AP) — Securities and Exchange Commission employees have been encouraged to work remotely for the foreseeable future after a coronavirus scare at the agency's Washington headquarters. The agency, which oversees the financial markets, said it was informed Monday afternoon that a headquarters...

President Donald Trump, left, standing with Vice President Mike Pence and Treasury Secretary Steven Mnuchin, right, talks to reporters about the coronavirus outbreak on Tuesday, March 10, 2020, on Capitol Hill in Washington. (AP Photo/Susan Walsh)

On virus response, Trump pitches tax relief to wary Congress

Mar. 10, 2020 6:56 PM EDT

WASHINGTON (AP) — President Donald Trump's proposed payroll tax break met with bipartisan resistance Tuesday on Capitol Hill as pressure mounts on the administration and Congress to work more vigorously to contain the coronavirus outbreak and respond to the financial fallout. Flanked by his economic team,...

This Oct. 5, 2019 file photo shows, the Salt Lake Temple at Temple Square in Salt Lake City. The Church of Jesus Chris of Latter-day Saints' largest investment fund had nearly $38 billion in stocks and mutual funds at the end of 2019, according to a filing that sheds new light on the faith's finances. (AP Photo/Rick Bowmer, File)

Report: Mormon church investment fund had nearly $38 billion

Mar. 7, 2020 3:38 PM EST

SALT LAKE CITY (AP) — The Church of Jesus Chris of Latter-day Saints' largest investment fund had nearly $38 billion in stocks and mutual funds at the end of 2019, according to a filing that sheds new light on the faith's finances. The fund called Ensign Peak Advisors submitted a filing to the U.S....

FILE - In this Feb. 13, 2014 file photo,  Reid Bigland unveils the Dodge Challenger Shaker at the Canadian International Auto Show in Toronto.  Fiat Chrysler's head of U.S. sales is leaving the automaker after more than two decades.  Bigland had a bumpy career that saw huge growth but also a whistleblower lawsuit over a scheme to pay dealers to report fake sales numbers. The Italian-American company says Bigland will leave April 3, 2020.  (AP Photo/The Canadian Press, Chris Young, File)

Fiat Chrysler US sales chief who sued the company is leaving

Mar. 4, 2020 10:25 AM EST

DETROIT (AP) — Fiat Chrysler's head of U.S. sales is leaving the company after a bumpy career that saw him file a whistleblower lawsuit over a scheme to pay dealers to report fake sales numbers. The company says in a statement that Reid Bigland will leave Fiat Chrysler April 3 after 22 years with the...

FILE - In this June 20, 2019 file photo, the Supreme Court is seen under stormy skies in Washington. (AP Photo/J. Scott Applewhite)

Justices likely to preserve SEC power to recoup fraud money

Mar. 3, 2020 12:57 PM EST

WASHINGTON (AP) — The Supreme Court seemed prepared Tuesday to preserve an important tool that federal securities regulators used last year to recoup $3.2 billion in ill-gotten gains in fraud cases. At most, the justices might impose some limits on how the Securities and Exchange Commission seeks...

FILE - In this Jan. 22, 2020, file photo, Night falls on the Supreme Court in Washington. The Supreme Court is about to tell President Donald Trump whether he has more power to use a favorite phrase: “You're fired.” A case being argued at the high court Tuesday could threaten the structure of agencies that form an enormous swath of the federal government. It has to do with whether Trump, and future presidents, can fire the heads of independent agencies for any reason.  (AP Photo/J. Scott Applewhite, File)

President's power to can independent agency heads faces test

Mar. 1, 2020 7:49 AM EST

WASHINGTON (AP) — The Supreme Court is about to tell President Donald Trump whether he has more power to use a favorite phrase: “You're fired.” A case being argued at the high court on Tuesday could threaten the structure of agencies that form an enormous swath of the federal government. It...

FILE - In a Sept. 21, 2016 file photo, Kevin Marsh, CEO of SCANA Corp., speaks to the media at the V.C. Summer Nuclear Station near Jenkinsville, S.C. The Securities and Exchange Commission sued SCANA Corp., its subsidiary South Carolina Electric & Gas along with the utility's former CEO Kevin Marsh and Executive Vice President Stephen Byrne on Thursday, Feb. 27, 2020. Federal officials say two former executives at a South Carolina utility, former CEO Kevin Marsh and Executive Vice President Stephen Byrne lied repeatedly to regulators and investors about the progress of construction of two nuclear reactors, taking hundreds of millions of dollars out of the pockets of investors and ratepayers. (AP Photo/Chuck Burton, File)

Securities agents sue 2 SC utility execs over nuclear fraud

Feb. 27, 2020 10:23 PM EST

COLUMBIA, S.C. (AP) — Two former executives at a South Carolina utility lied repeatedly to regulators and investors about the progress of construction of two nuclear reactors taking more than a billion dollars out of the pockets of investors and ratepayers, federal securities officials said. The Securities...

Nicola T. Hanna, U.S. Attorney for the Central District of California, at podium, announces at a news conference in Los Angeles Friday, Feb. 21, 2020, that Wells Fargo has agreed to pay $3 billion to settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals. (AP Photo/Stefanie Dazio)

Wells Fargo to pay $3B to resolve probes into fake accounts

Feb. 21, 2020 7:19 PM EST

LOS ANGELES (AP) — Wells Fargo agreed Friday to pay $3 billion to settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals. Since the fake-accounts scandal came to light in 2016,...