’Tis the season for annual reports, and one of the most instructive is from the regulator Commodity Futures Trading Commission (CFTC) and its Division of Enforcement. When it comes to the CFTC’s mission to “be tough on those who break the rules,” as Division of Enforcement Acting Director Vince McGonagle puts it in a commission… Read More >>
SEC Collects $5.8M from DBRS for Monitoring Woes
U.S. regulator, the SEC has charged credit rating agency DBRS Inc. with misrepresenting its surveillance methodology for ratings of U.S. residential mortgage-backed securities and re-securitized real estate mortgage investment conduits during a three-year period. An SEC investigation found DBRS “misrepresented [that] it would monitor on a monthly basis each of its outstanding ratings of U.S…. Read More >>
Billion-Dollar Settlements Sting A-List Banks and Investors
The best known aphorism attributed to the late U.S. Senator Everett Dirksen, the honey-voiced Republican Minority Leader in the LBJ era, is “a billion here, a billion there, and pretty soon you’re talking real money.” One wonders what Dirksen would make of the multi-billion-dollar settlements that Goldman Sachs, Bank of America and other giant banks… Read More >>
