online.wsj.com - 1/5/2009
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KARA SCANNELL Bernard L. Madoff Investment Securities LLC was examined at least eight times in 16 years by the Securities and Exchange Commission and other regulators, who often came armed with suspicions. SEC officials followed up on emails from a New York hedge fund that described Bernard ...
informationarbitrage.com - 1/6/2009
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informationarbitrage.com —
So much promise, so many risks. This is
how 2009 is shaping up. While euphoria surrounding the...
Obama Administration's fiscal stimulus plans will drive the markets early in the year, I believe this rally will lose steam as massive deficit spending ...
(more)
Some Thoughts on 2009
bloomberg.com - 1/3/2009
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bloomberg.com —
Jan. 2 (Bloomberg) -- U.S. regulators working to
untangle Bernard Madoff ’s alleged $50 billion Ponzi scheme...
are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said. The U.S. Securities and ...
(more)
SEC Said to Examine More Ponzi Schemes After Madoff ...
reuters.com - 1/5/2009
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reuters.com —
Jan 5 (Reuters) - Bernard L. Madoff Investment
Securities LLC was examined at least eight times in...
16 years by the U.S. Securities and Exchange Commission (SEC) and other regulators, who often came armed with suspicions, the Wall Street Journal said. ...
(more)
U.S. regulators probed Madoff eight times over 16 ...
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Regulators Said to Probe Madoff Eight Times Over 16 Years
DealBook —
... said, adding that regulators never came close to uncovering the alleged $50 billion Ponzi scheme that investigators now believe began in the 1970s. The Journal said that the serial regulatory failures will be on display on Monday when Congress holds a hearing to probe why the alleged fraud went undetected. Among the key witnesses is S.E.C. Inspector General David Kotz, who was asked last month by the agency’s chairman, Christopher Cox, to investigate the mess, the newspaper said. Go to Article from The Wall Street Journal (Subscription Required) » ...
Opening Bell: 01.05.09
Dealbreaker —
... It's hard to explain how regulators could possibly miss the largest Ponzi scheme in history on eight separate occasions over 16 years, short of BM packing the room with hookers, coke, and a disco ball. Even then there might at some point be some synaptic spark that says "something doesn't seem right here" (and that explanation would go a long way towards the syphilis defense.) ...
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SEC Skipped Normal Inspection of Madoff Hedge Fund
nakedcapitalism.com 12/14/2008 — So how did Madoff get away with his $50 billion fraud? Time will tell when and how it started, although I'd hazard the dot com bust. Madoff may have been unwilling to report losses, and assumed (initially) that no one would be hurt if he fibbed if ...
How the New SEC Enforcement Director Can Help Restore Investor Confidence
securitiesdocket.com 4/14/2009 — by Bruce Carton
Robert Khuzami began his new job as director of the Enforcement Division at the Securities and Exchange Commission on March 30. His arrival marks the first change in leadership for the Enforcement Division since 200
Khuzami joins the SEC from Deutsche Bank AG in New York, ...
Pondering Madoff as we enter 2009
ritholtz.com 12/23/2008 — Pondering Madoff as we enter 2009
by David Kotok
December 23, 2008
David R. Kotok co-founded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in Economics from The Wharton School of the ...
SEC Heal Thyself: Compliance Program Revamped
securitiesdocket.com 6/9/2009 — The Securities and Exchange Commission just hasn’t had enough bad news recently, so last month the media piled on even more: a probe of insider-trading allegedly going on inside the SEC.
Specifically, the agency’s inspector general has found evidence of “suspicious activity, appearances of ...
SEC Self-Funding: The Time Has Come
feedproxy.google.com 9/9/2009 — B. Carton
As I argued in this column last month, the Securities and Exchange Commission budget has been well below where it should be for several years. This shortfall has caused the SEC to suffer a 10 percent reduction in staff and a cut of more than 50 percent in its new technology ...
Specialization Key to SEC Enforcement Division Overhaul
securitiesdocket.com 5/5/2009 — by Bruce Carton
In a column last month, I noted the arrival of a new Securities and Exchange Commission enforcement director, Robert Khuzami (pictured below). I suggested that Khuzami had to hit the ground running and discussed the flood of suggestions from within the SEC and from the outside ...
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