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.
Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist.
Canadian pharmaceutical company shares dropped 18% on Monday, as the company admitted being under investigation by U.S. Securities and Exchange Commission.
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.
Citigroup announced that they are planning to rebuild its equity unit soon. The move is seen as a bold action by the bank considering current economic situation and the "Volcker rule" regulation which limits banks investment in such funds.
A group of traders and web hackers accumulated over $100M by gaining access to corporate press releases on news websites Market Wired, PR Newswire and Business Wire before the news were published. The hackers have been trading the advance stolen news to Wall Street traders for five years, fed authorities caught on Tuesday.
A top Herbalife salesman said that most people who sell the company's weight loss and nutrition products are doomed to fail, adding fresh grist to accusations by a hedge fund manager that the company is a fraud.
Zoosk has filed with the Securities and Exchange Commission an IPO valued USD100 million, reported TechCrunch.
Norcross, US-based behavior intelligence firm Brickstream raised $8.7 million in a new funding round to track and analyze the behaviors of shoppers in brick-and-mortar stores.
Nashville, US-based Windy Hill Spirits Inc, the maker of American Born Moonshine, pocketed $6.1 million in new equity from undisclosed investors to continue producing high quality moonshine for its customers.
Palo Alto, US-based stealthy startup Citizen.VC raised $4 million in funding out of a reported $12-million round, based on a document filed with the US Securities and Exchange Commission.
Illinois, US-based software systems provider Wellspring Worldwide bagged $3.5 million in funding from undisclosed investors, according to a document filed with the US Securities and Exchange Commission.
Philippine-based real estate holding company SM Investments Corp entered an agreement to acquire a 34% stake in CityMall Commercial Center Inc for an undisclosed amount to construct a chain of community malls in Visayas and Mindanao.
San Francisco, US-based sports-centered social networking platform Sqor raised over $4.4 million out of the targeted $13 million funding round ahead of a major platform update set to take place in February.
Michigan, US-based Talmer Bancorp Inc, a company backed by billionaire Wilbur Ross, filed for an initial public offering (IPO) of common stock worth $230 million with the US Securities and Exchange Commission.