It is also why the 2 SEC commissioners who voted against bringing the case — Republican commissioners, Kathleen Casey and Troy Paredes — should be ashamed of themselves.

About Rule 10b-5 from The Big Picture:

Rule 10b-5: Employment of Manipulative and Deceptive Practices

It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange…

About the vote at Bloomberg:

Schapiro’s predecessor, Christopher Cox, tried to seek consensus on SEC actions, triggering criticism from investors that he wouldn’t take on contentious cases or rules.

say something

April 20th, 2010 at 7:24 am

Posted in dough