SEC Won&#39;t Punish Global Crossing Founder
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US regulators have decided against filing civil charges against Global Crossing Ltd. (GLBC.O: Quote, Profile, Research) founder Gary Winnick following a probe of its accounting practices, his attorney said on Monday.
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A former New York Stock Exchange floor   trader charged with securities fraud took the stand in his   defense on Wednesday, telling a jury that he had never   intentionally ordered illegal trading that cheated investors.
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NEW YORK/WASHINGTON  - U.S. securities regulators  on Tuesday did not give Google Inc. the green light it needs to  price its initial public offering, extending the wait for its  highly anticipated market debut.
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InfoWorld - The U.S. Federal Trade Commission will not try to block Google's acquisition of online ad-serving vendor DoubleClick, the agency said Thursday.
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HOUSTON -- The New York Stock Exchange could have avoided the controversy over former chief Richard Grasso&#39;s $187.5 million pay package if it had faced more competition, the head of the Nasdaq Stock Market said Wednesday.
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The Tokyo Stock Exchange said on Monday it would not strip Nikko Cordial Corp.  of its share listing over an accounting scandal, a surprise decision that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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Citigroup Inc  CEO Vikram Pandit is likely to keep the company intact rather than spinning off or selling units such as the Smith Barney retail brokerage, CNBC's Charles Gasparino said on Tuesday without citing sources.
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DAVOS, Switzerland  - The United States and other countries must not demonize sovereign wealth funds as they come to the aid of troubled U.S. banks, some of the world's biggest state-run investors said on Thursday.
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The man at the centre of the rogue trader scandal at Societe Generale says he will not be made a "scapegoat".
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Three former Global Crossing Ltd. officials, including former chairman Gary Winnick, have reached a tentative settlement with securities regulators over an alleged failure to disclose information about the telecommunications company's swap transactions, according to two sources briefed on the deal.
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Global Crossing Ltd. founder Gary Winnick and at least two other executives are likely to be fined under an agreement that will end a Securities and Exchange Commission probe into the company's accounting, people familiar with the matter said.
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Nasdaq Stock Market Inc.'s   chief executive told investors on Friday that expanding  overseas could make sense, but refused to comment on questions  about its strategy toward the London Stock Exchange .
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U.S. Federal Trade Commission (FTC)&#160;Chairman Deborah Platt Majoras won&#39;t recuse herself from considering the antitrust implications of&#160;Google&#39;s proposed acquisition of DoubleClick, despite a request from two privacy groups that she do so.Majoras, in a statement Friday, said&#160;the request by the Electronic Privacy Information Center (EPIC) and the Center for Digital Democracy (CDD)&#160;contains &quot;key factual errors.&quot; The two groups filed a petition Wednesday saying Majoras&#39; husband works for a law firm that is advising DoubleClick on the merger before U.S. and European regulators.The Web site for John Majoras&#39; law firm, Jones Day, at one point said it was representing DoubleClick &quot;on the international and U.S. antitrust and competition law aspects&quot; of the Google merger. But Platt Majoras said in her statement that Jones Day has never contacted the FTC about DoubleClick and that she didn&#39;t know it was representing DoubleClick in Europe until earlier this week.A second FTC commissioner whose wife also works for Jones Day also said he won&#39;t recuse himself.The EPIC and CDD petition also is incorrect when it says that John Majoras is an equity partner in Jones Day, Platt Majoras said. John Majoras switched his partnership from equity to nonequity status in January 2006, she said.&quot;I understand that as a fixed-participation partner, his compensation will not be increased or affected by changes in the firm&#8217;s income,&quot; Platt Majoras said.&quot;My husband does not represent any party in the Google-DoubleClick matter. He is in no way connected to the matter, nor are any of the parties to the matter otherwise currently his clients.&quot;EPIC and CDD, in a joint statement, said the FTC has &quot;failed utterly&quot; in its procedures to alert Platt Majoras about potential conflicts of interest. Despite Platt Majoras&#39; claims that she doesn&#39;t have a conflict, John Majoras is an antitrust expert at Jones Day, and one of his key responsibilities is business development in Washington, D.C., they said.Platt Majoras &quot;simply sets out the conclusion that the interests in her participation in this matter outweigh the potential conflict without providing any of the relevant factors that support that conclusion other than that she is the chairman of the commission,&quot; said the statement from EPIC executive director Marc Rotenberg and CDD executive director Jeffrey Chester.Jones Day changed its Web site&#160;after the groups pointed out that it said the firm was representing DoubleClick on U.S. antitrust matters, wrote Rotenberg and Chester.&quot;The logical conclusion is that Jones Day ... sought to destroy the relevant evidence,&quot; Rotenberg and Chester wrote.A Jones Day spokesman didn&#39;t immediately have a comment when asked about the EPIC and CDD allegations.Google in April announced plans to acquire ad-serving giant DoubleClick in a $3.1 billion deal. That same month, EPIC, CDD and the U.S. Public Interest Research Group (US PIRG) filed a petition asking the FTC to block the deal unless Google made significant changes to its privacy policy. The groups argued that the combined company would have unparalleled access to Web users&#39; personal information.FTC Commissioner William Kovacic also noted, in a Friday statement, that his wife, Kathryn Fenton, is a nonequity partner at Jones Day. The EPIC and CDD petition had not sought to have Kovacic recused.The FTC&#39;s three other commissioners, Pamela Jones Harbour, Jon Leibowitz and J. Thomas Rosch, issued a joint statement, saying that they agreed with the decisions of Platt Majoras and Kovacic not to recuse themselves.&quot;It is evident that these commissioners have at all times taken affirmative steps to conduct themselves in complete conformity with the ethical standards that apply to their positions,&quot; the three said.
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The founder and former chairman of the world&#39;s second largest contract chip maker was found not guilty of investing in and transferring technology to a Chinese chip maker, a Taiwanese court said Friday.
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PeopleSoft Inc.&#39;s (PSFT.O: Quote, Profile, Research) chief financial officer on Wednesday said the company&#39;s customer assurance program might not force liabilities on Oracle Corp.
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Nortel Networks Ltd. said both the New York Stock Exchange and the Toronto Stock Exchange are not considering delisting the company as yet.
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SEC seems determined to move toward an international standard.