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US SEC This category includes articles the discuss the policies and actions of the United States Securities and Exchange Commission.
The U.S. Securities and Exchange Commission (commonly known as the SEC) is an independent agency of the United States government which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation’s stock and options exchanges, and other electronic securities markets. The SEC was created by section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the 1934 Act). In addition to the 1934 Act that created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002 and other statutes. [Wikipedia]
Fat-Finger Thursday:
By John Schroy, on May 10th, 2010 | 
On May 6, 2010, the Dow Jones Stock Index, at about 2:30 PM, fell almost one thousand points, before recovering when traders discovered that there was no real news justifying the crash in prices. The day will forever be know as ‘Fat-Finger Thursday’, in remembrance of the first inclination to blame the crash on supposed mistaken data entry by some trader, somewhere. Later, the authorities came out and declared that there was no “fat finger”, but that the cause for the anomaly was unknown and under investigation.
Investor protection:
By John Schroy, on July 11th, 2009 | 
The US SEC allows issuers to hide required disclosure by perceptual tricks that remind one of the children’s series, “Where’s Wally?”
These methods include burying warnings in a list of unlikely risks, incorporating facts ‘by reference’, loading documents with irrelevancies, and playing the ‘each fact in the proper document’ game.
Capital Market Taxonomy provides ready-to-use check-lists that help analysts cut through dense disclosure documents.
State finances:
By John Schroy, on July 11th, 2009 | 
By July 2009, the State of California, one of the world’s larger economies, was unable to pay its bills, the result of profligate spending in the state legislature in Sacramento.
Governor Schwarzenegger was forced to issue State IOU’s to pay creditors.
The US SEC went along with this, declaring this fiat money to be equivalent to municipal bonds. As usual, California leads the country. In this case, the precedent is not good.
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