Skip to main content

SEC Gets Picked Off Again

The SEC is finding new and creative ways to tarnish its image. After estimating that it would recover close to $1 billion in assets in the Stanford fraud case, the SEC now finds itself shoulder to shoulder with the guy they intend to prosecute. The receiver in the Stanford case, Ralph Janvey, has petitioned the court to approve $20 million in fees and expenses for work performed on the case since February. However, when the SEC discovered its recovery estimate was about $650 million too high, it petitioned the court to reduce the amount due to the receiver. Team SEC/Stanford have an uphill battle on their hands.

"None of the professionals was retained with the understanding that they would be subjected to deep discounts if the recoverable estate assets were less than the SEC expected," the court filing said.

SEC opposition to Stanford fees unjustified-filing [Reuters]


Judge Jed Up SEC's Ass Again

These days, Judge Jed Rakoff’s name creates about as much agita inside the SEC as as Bernie Madoff. If Wall Street’s cops on the beat didn’t have enough to deal with already, now Judge Jed is up their ass about a seemingly meaningless legal settlement in the Galleon insider trading case.


Lynn Tilton Gets Off

The SEC fails to get the fuzzy cuffs on Wall Street's Joan of Arc.


President Trump Probably Having Second Thoughts About SEC Pick

Turns out Jay Clayton's conflicts aren't that bad, which is a real disqualification for this administration.

Getty Images/Alberto E. Rodriguez

Lynn Tilton Gets Calendar Reminder To Sue The SEC Again

It's important to set these things up or your might forget.