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SEC files subpoena enforcement action against Wells Fargo after the company cites the commission's wells notice as a reason for not completing its subpoena responses

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • March 27 2012

On Friday, March 23, 2012, the SEC filed a subpoena enforcement action in federal court in California against Wells Fargo & Company

SEC announces $285 million settlement with Citigroup for misleading investors during financial crisis

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • October 20 2011

On Wednesday, October 19, 2011, the SEC announced a settlement with Citigroup's principal U.S. broker-dealer, Citigroup Global Markets, Inc., who had been charged with misleading investors about a $1 billion collateralized debt obligation ("CDO") tied to the housing market

For Goldman the ABACUS deal just keeps coming back

  • Porter Wright Morris & Arthur LLP
  • -
  • United Kingdom, USA
  • -
  • November 10 2010

The ABACUS deal has become the one that just will not go away for Goldman Sachs

This week in securities litigation (October 15, 2010)

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • October 15 2010

The focus was on Dodd-Frank this week as the Commission continued to implement the Act, issuing proposed rules regarding asset backed securities and derivatives

State insurance regulators challenge role of credit rating agencies

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • September 23 2009

As if the specter of newly proposed SEC Rules and an investigation by the California Attorney General were not enough of a distraction for the battered credit ratings industry, the Wall Street Journal reported that some state regulators are mounting a challenge to reduce or eliminate the role credit ratings agencies play in evaluating the health of an insurer’s portfolio of investment-backed bonds

Credit-rating agencies face new SEC rules, mounting legal challenges

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • September 23 2009

As credit-rating agencies, including Standard & Poor’s, Moody’s and Fitch try to rebuild their image and credibility in the wake of the U.S. financial crisis, the SEC proposed new rules to promote transparency and eliminate conflicts of interest