WASHINGTON (Reuters) - The top securities regulator said on Tuesday that the problems surrounding Facebook's initial public offering should be reviewed, but those issues should not shake investor confidence in the markets.
WASHINGTON (Reuters) - The top securities regulator said on Tuesday that the problems surrounding Facebook's initial public offering should be reviewed, but those issues should not shake investor confidence in the markets. "I think there is a lot of reason to have confidence in our markets and in the integrity of how they operate, but there are issues that we need to look at specifically with respect to Facebook," Securities and Exchange Commission Chairman Mary Schapiro told reporters as she exited a Senate Banking Committee hearing. ...
Saudi Arabia officials threatened to ban messenger applications like Viber, Skype and WhatsApp, if operators do not allow them to censor the content and conversations. UK’s Prime Minister David Cameron, announced his plans to tighten the legislation for immigrants in the country. NASA uses smartphones in space. NASDAQ will pay $62 million to investors, reimbursing losses from Facebook’s IPO.
Reuters - The top U.S. securities regulator will need to add about 800 new positions to carry out its part of the massive financial reform legislation, the head of the agency said in testimony to be delivered on Tuesday.
When President Obama nominated former U.S. Attorney Mary Jo White to be the next Chairman of the Securities and Exchange Commission (SEC), the reaction was generally positive. White will be the first prosecutor to head the nation’s top financial regulator, and many critics of Big Finance are seeing the pick as a clear indication that the President wants to get tough on Wall Street shenanigans.
WASHINGTON – Regulators on Monday charged the Chinese affiliates of five top accounting firms with violating securities laws, alleging they refused to produce audit documents in connection with accounting fraud investigations into Chinese companies.
The Securities and Exchange Commission began proceedings against the Chinese units of Deloitte & Touche; Ernst & Young; KPMG; PricewaterhouseCoopers and BDO.
By IPOScoop:Wall Street's equities syndicate desks burned the midnight oil last week. Bankers got two IPOs priced and brought 15 secondary offerings to market. But that's not all. They filed plans for four companies to go public, filed 11 amendments for IPOs updating their registration statements, and put three deals on this week's new-issues calendar.
ON MONDAY, news surfaced that a small investment fund, GSV Capital, had purchased $6.6m worth of private shares of Facebook, valuing the popular social network at $70 billion. The shares of GSV Capital, which are publicly traded, shot up 42% on the news, adding $14m to the fund’s market value. That suggests the stock market believes Facebook is worth roughly twice its current private market valuation.