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Since the SEC is limited to civil charges, it often refers cases to the DoJ.
It is true that there have been fewer fails in single-company stocks since the SEC further tightened up its rules on shorting (known as RegSHO) in 2008.
Since the SEC started its investigations, the price has slumped, to around eight pesos this week.Last year was a bad one for the PSE.
Much of that information is provided by the banks themselves, since the SEC has a small budget and no resources to chase the thousands of instances of Wall Street malfeasance every day.
Tourre, who has been on paid leave from Goldman since the SEC sued the firm, defended the type of derivatives in which he specialises, saying they are exclusively for sophisticated institutions: "The structured products on which I worked fill an important need for these sophisticated financial institutions.
And since the SEC introduced regulation fair disclosure (FD) in 2000, prohibiting firms from disclosing material information to one outsider before the market as a whole, the main source of competitive advantage for analysts—namely, access to privileged information through meetings with the companies' managers—has supposedly been destroyed.
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CEO of Professional Science Editing for Scientists @ prosciediting.com