Securities and Exchange Commission

Tyler Durden's picture

The Task Confronting Libertarians





If libertarians lose on the inflation issue, they are threatened with the loss of every other issue. If libertarians could win the inflation issue, they could come close to winning everything else. If they could succeed in halting the increase in the quantity of money, it would be because they could halt the chronic deficits that force this increase. If they could halt these chronic deficits, it would be because they had halted the rapid increase in welfare spending and all the socialistic schemes that are dependent on welfare spending. If they could halt the constant increase in spending, they could halt the constant increase in government power.

 
Tyler Durden's picture

Alibaba’s SEC Probe: What’s Missing From This Disclosure?





On 24-May-2016, Alibaba Group disclosed what appears to be an informal SEC investigation. This is the first time this matter has been disclosed. Details are scant, leaving the investor unable to adequately assess the risk it poses. Using the template of who/what/where/when/why, we will examine what is missing. Our conclusion is you are left with a risk that management views as material but you cannot analyze. We generally recommend avoiding such scenarios.

 
Tyler Durden's picture

Frontrunning: May 27





  • Oil prices ease from seven-month high to below $49 (Reuters)
  • Wall Street Waits for Yellen Before Taking Off for a Long Weekend (BBG)
  • Donald Trump Celebrates Clinching GOP Delegate Race (WSJ)
  • Trump vows to undo Obama's climate agenda in appeal to oil sector (Reuters)
  • Japan Fails in Bid to Have G-7 Warn of Global Crisis Risk (BBG)
  • Valeant Rejected Joint Takeover Approach From Takeda, TPG (WSJ)
 
Tyler Durden's picture

"We’re Moving To Tackle Systemic Risk" - India Cracks Down On HFT Scourge





While the corrupt and criminal US regulators are unable to do anything to stifle the market domination of algos which have totally destroyed the US equity market, and sucked up enough liquidity where neither buy nor sellsiders can generate a profit, India is already well on its way to crushing the parasitic - and perfectly legal - frontrunners of virtually ever trade. It will do so by increasing penalties on high-speed trading firms that flood exchanges with orders that don’t result into actual transactions, as part of steps aimed at strengthening its oversight of computerized trading.

 
Tyler Durden's picture

The SEC's Latest Investigative Tactic: Bar Hopping With Wall Street





The SEC is taking a new approach to uncovering nefarious dealings within the financial markets: bar hopping.

 
Tyler Durden's picture

SEC - Do Your Job!!





It looks like the SEC is finally ready to put a stop to accounting shenanigans.

 
Tyler Durden's picture

Phil Mickelson Charged In Insider Trading Scam, Accused Of Illegal $931,000 Profit





Having denied any investigation as "inflammatory and speculative" when the Phil Mickelson insider-trading brouhaha initialy erupted two years ago, it appears the golfer's lawyers may have to shift from the "deny deny deny" defense to "let's make a deal."  Having been unable to pin anything on Wall Street insider Carl Icahn, Vegas sports gambler Billy Walters, and pro-golfer Mickelson with regard their trading in Clorox (during Icahn's takeover bid); the SEC has arrested Walters and announced criminal charges against Dean Foods' Chairman Thomas Davis (who stepped down after suspicions of leaking insider tips) and after generating nearly $1million in profits from the Dean Foods trading tip Phil Mickelson is charged with insider trading and wilb be forced to disgorge ill-gotten gains.

 
GoldCore's picture

Gold Goes From "Ultimate Bubble" To Ultimate Buy For Soros





George Soros, who once called gold “the ultimate bubble,” has resumed buying the gold ETF and shares after a three-year hiatus. Soros issued very vocal warnings a year ago in May 2015, that we are on the “threshold of a Third World War” ...

 
Tyler Durden's picture

Frontrunning: May 16





  • European Stocks Fall as Chinese Economic Data Disappoint (WSJ)
  • Oil Climbs to Highest Since November as European Shares Retreat (BBG)
  • Yen weakens on Japan intervention talk before G7 meets (Reuters)
  • Wall Street’s Bond Forecasters Splinter as Fed Credibility Wanes (BBG)
  • Amazon to Expand Private-Label Offerings—From Food to Diapers (WSJ)
  • Oil prices rise on Nigerian outages, Goldman forecast (Reuters)
 
Tyler Durden's picture

Peter Boockvar Warns "If Central Bankers Get Their Way, The Global Bond Market Will Blow Up"





"My fear is that central banks are now taking this too far through negative interest rates in particular and that they’re going to literally destroy their own banking systems. If they’re actually successful in generating higher inflation, then they’re going to destroy their own bond markets... our government officials, and I will include the Federal Reserve in that, have failed the American people."

 
Tyler Durden's picture

Saving Is Dumb... Say The Central Bankers





Central bankers have been waging a war against savers. What those central bankers want you to do is either (1) spend money to increase demand, or (2) buy stocks to increase capital. Well, it sure looks like American consumers are not doing the former...

 
Tyler Durden's picture

DOJ Probing Whether Citadel Is Frontrunning Its Clients





We were not surprised, though certainly delighted, to see that after years of railing against Citadel's dominant position at the intersection of HFT trading and retail orderflow - recently Citadel was found to be the largest private US trading venue - this morning Reuters reports that Federal authorities are investigating the market-making arms of Citadel LLC and KCG Holdings looking into the possibility that the two giants of electronic trading are giving small investors a poor deal when executing stock transactions on their behalf. In other words, the DOJ is looking into whether Citadel is frontrunning its clients, something we have claimed for years.

 
Tyler Durden's picture

The End Of 'Quarterly Capitalism'?





Tell us truthfully: do you actually get a lot of value from quarterly earnings reports?  It’s not actually us asking; it is the Securities and Exchange Commission and the NIRI trade group, the most influential group of Investor Relations professionals in U.S. markets. Last week the SEC published a concept release that seeks public input on a range of issues, perhaps most notably quarterly financial reporting for public companies. Questions include: “Do investors, registrants, and the markets benefit from quarterly reporting?” and “Should we revise or eliminate our rules requiring quarterly reporting?” 

 
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