The SEC made this investor disclosure-cost-environment policy trifecta possible through a May 2015 proposal that would allow mutual funds to deliver shareholder reports electronically as the default option.
Breaking News
After several conducted investigation, Embraer was found liable of $205M for bribery.
The Security and Exchnage Commission approves the ammended rules for mutual fund investors.
The U.S. securities and commodities regulatory agencies pushed the congress to increase their budget. They argued that more fund is needed to do their functions in the growing financial markets and technology in recent years.
Las Vegas Sands will pay a settlement charge of $9 million in order to clear the corruption case over operations in China.
Alibaba is now the new world's largest retail company beating Wal-Mart. Figures might not show it yet but with the company's SEC filing it is measured by Gross Merchandise Volume where Alibaba exceeded Wal-Mart's reported 2015 revenue for its fiscal year ending January 31st.
Westlands Water District agreed to pay a fine of $125K to SEC for misguiding investors in Enron accounting transactions. While, Thomas Birmingham and Dave Ciapponi will pay $50K and $20K respectively.
Monsanto, the agribusiness giant, faces an $80 million penalty to SEC on account of misstated earnings. The company had failed to incorporate the expenses related to a rebate program while entering the corresponding revenues. However, the SEC is not pressing further charges as the company, although neither admitted nor denied the allegations, has agreed to make the necessary settlements.
Airbnb, the US home-sharing startup, has confirmed closing of $1.5 billion fund-raising round. The latest closure of fundraising puts the unicorn startup at staggering valuation.
Being President of the United States is the large role to fill as the most powerful man in the world. With that power and title, of course comes, great wealth and fame, whether from a widely well-received tenure or one of great criticism.
The Justice Department launched an investigation on drug makers Merck & Co, Valeant Pharmaceuticals International, and Eli Lilly & Co for alleged over pricing. The Wall Street Journal reported that the US Attorney's office in Eastern District of Pennsylvania, along with the Justice Department's civil division set a probe on Merck, Eli Lilly, and Valeant on how these drug makers calculate and report their product pricing to the government medical rebate program.
The newly-approved crowdfunding norms will enable start-ups to mobilize funds from mom-and-pop investors over the internet. The US Securities and Exchange Commission (SEC) has okayed the new rules on crowdfunding with a majority voting of three to one. The Business Startups (JOBS) act has been enacted with bipartisan support to facilitate new startups with more flexibility in the mobilization of funds. SEC also changed the audit provisions of the crowdfunding rules.
IBM has just released news that the IT company is currently under investigation by the Securities and Exchange Commission on its accounting procedures in the US, Ireland, and Britain.
Payments startup Square, e-Commerce organization run by new Twitter CEO Jack Dorsey, is going for an initial public offer (IPO) and mentions in the filing to Securities Exchange Commission (SEC) that the fraud could be a major hurdle for it. Square was target of hacking as a single seller used its payment services resulting in a huge loss of $5.7mn for the e-Commerce startup. The automated global payment system and the liquidity of Square were the major reasons why it was the target for illegal or improper use.
The US companies are keeping their profits made overseas out of the homeland in order to avoid taxes. It's estimated that 500 large US companies are holding over $2.1 trillion accumulated profits overseas to avoid taxes. These companies have to shell out $620billion by paying US taxes to repatriate the funds.
