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14 enforcement actions administrative proceedings agency average penalties broker-dealers CFTC chief compliance officer civil enforcement actions Commission conflicts of interest consistent with penalties corporate accounting fraud criminal authorities criminal referral process director disgorgement and penalties DOJ officials employees Enforcement staff told ethics exit procedures federal criminal prosecutors Federal Reserve Banks federal securities laws financial regulators firms fund trading abuses fund's Government Accountability Office harm hedge fund individuals informal referrals insider trading investment advisers investment companies involved late trading violations market timing abuses market timing conduct million misconduct mutual fund companies mutual fund trading NASD NYSOAG obtained in settlement Office penalties and disgorgements penalties obtained penalties SEC obtained penalty-setting process Penny Stock policies and procedures postemployment potential conflict recommendations regulated entities Sarbanes-Oxley Act scienter SEC examiners SEC rules SEC Settlements SEC staff securities fraud senior Enforcement staff September 2003 settled enforcement actions settlement order similarly egregious
Page 4 - hedge fund" generally identifies an entity that holds a pool of securities and perhaps other assets that is not required to register its securities offerings under the Securities Act and which is excluded from the definition of investment company under the Investment Company Act of 1940.
Page 14 - Financial Integrity Act to issue standards that provide the overall framework for establishing and maintaining internal control and for identifying and addressing major performance and management challenges and areas at greatest risk of fraud, waste, abuse, and mismanagement.
Page 3 - Ranking Minority Member Committee on the Judiciary United States Senate The Honorable F. James Sensenbrenner, Jr. Chairman The Honorable John Conyers, Jr. Ranking Minority Member Committee on the Judiciary House of Representatives This report was prepared in response to the requirements of the Federal Courts Administration Act of 1992 (Public Law 102-572) specifying that we review certain aspects of the Judicial Survivors...
Page 4 - Under SEC rules, mutual funds accept orders to sell and redeem fund shares at a price based on the current net asset value, which most funds calculate once a day at the 4:00 pm ET close of the US securities markets.
Page 4 - Market timing typically involves the frequent buying and selling of mutual fund shares by sophisticated investors, such as hedge funds, that seek opportunities to make profits on the differences in prices between overseas markets and...
Page 14 - Internal control, which is synonymous with management control, helps government program managers achieve desired results through effective stewardship of public resources.
Page 12 - Securities Enforcement Remedies and Penny Stock Reform Act of 1990. Pub. L. No. 101-429, 104 Stat.
Page 3 - Division of Enforcement The Division of Enforcement investigates possible violations of securities laws, recommends Commission action when appropriate, either in a federal court or before an administrative law judge, and negotiates settlements on behalf of the Commission.