US Securities and Exchange Commission

SEC Files Fraud Charges Against Fired ConvergEx Executive Basilly Years After His Dismissal

SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.

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SEC slaps fine on AIG units over higher charges

US Securities and Exchange Commission (SEC) has slapped penalties on AIG's three affiliates for steering customers to high-fee products. AIG is also offloading its brokerage unit owing to stringent norms. AIG has agreed to pay $9.5 million for settling the regulator's claims.

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US Foods Files For Up To $100 Million IPO Under New York Stock Exchange

Sysco has initiated a process to acquire US Foods for $3.5 billion in 2013. The effort has been blocked by a federal judge under certain grounds. The debt burdened distribution giant has finally opted to go for IPO on Tuesday. Though size of the IPO hasn’t been mentioned clearly, but the Form S-1 suggests valuation of $100 million which may be revised later on.

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Goldman Sachs, U.S. agency in mortgage settlement worth $1.2 billion

Goldman Sachs Group Inc has agreed to a settlement worth $1.2 billion to resolve a U.S. regulator's claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced Friday.

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Cheetah Mobile files IPO

Beijing-based Cheetah Mobile Inc. filed an initial public offering with US regulators and appointed JP Mogran, Credit Suisse, Macquarie Capital and Morgan Stanley to be the underwriters for the deal.

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San Francisco business social network Townsquared bags $5.26M in funding

San Francisco, US-based business social network Townsquared bagged $5.26 million in its first funding round from undisclosed investors to allow business owners and employees connect and engage with each other.

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Virginia's Apex Clean Energy raises $4.4M in equity funding

Charlottesville, Virginia-based wind power developer Apex Clean Energy Inc raised around $4.4 million in the latest stage of its $25-million equity funding round which started last year.

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Troubled Missouri data storage firm IceWEB eyes capital raising

Kansas City, Missouri-based troubled data storage firm IceWEB Inc plans to sell equity securities to raise capital increase sales of its products and services in order to continue its operations.

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Santander Consumer eyes $8.4B valuation in IPO

Santander Consumer USA Holdings is seeking a valuation of as much as $8.4 billion in its initial public offering. The auto loan company owned by Spain's Banco Santander as well as private equity firms expects to raise $1.56 billion in the listing.

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US regulators seek to tighten standards on muni advisers- report

The Municipal Securities Rule-making Board has released draft rules today aimed at tightening the standards that govern the conduct of firms that give advice to public officials regarding their municipal bonds.

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Second City Capital Partners' City Office REIT to raise $115M in New York IPO

City Office REIT, controlled by Canadian private equity firm Second City Capital Partners, filed with US Securities and Exchange Commission to raise up to $115 million in a listing of its common stock on the New York Stock Exchange.

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Revlon to shutdown operations in China months after Colomer Group buyout

New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.

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Judge rejects Miami's bid to dismiss fraud lawsuit filed by regulator

Miami failed to convince US District Judge Cecilia Altonaga that the lawsuit filed against the city by the US Securities and Exchange Commission should be dismissed, Reuters reported.

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NASDAQ to pay $41.6M compensation for botched Facebook IPO

NASDAQ OMX Group on Friday said that it would pay $41.6 million on December 31 for qualifying claims related to Facebook's botched initial public offering.

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Apple shareholders to vote on Carl Icahn's $50 B stock buyback proposal early next year

Apple Inc. has filed a proxy statement with the US Securities and Exchange Commission on Friday. Apple investors are set to vote on activist investor Carl Icahn's $50 billion stock repurchase proposal on February 28.

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