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  • SEC: Finance Researchers Encouraged To Study Regulation SHO Pilot That Starts May 2

    Date 26/04/2005

    The staff of the Securities and Exchange Commission invites researchers to study the role of SEC Rule 10a-1 (the "tick" test) and NASD Rule 3350 (the Nasdaq Bid Test) in promoting market quality. These rules regulate the execution of short sales on exchanges and Nasdaq.

  • SEC Encourages Particpation In Its XBRL Voluntary Program

    Date 26/04/2005

    The U.S. Securities and Exchange Commission earlier this month commenced its voluntary program for receiving financial information on EDGAR using eXtensible Business Reporting Language (XBRL). Registrants may now voluntarily furnish XBRL data in an exhibit to specified EDGAR filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940. Several filers have already submitted XBRL data under the program, and the SEC encourages additional filers to participate.

  • SEC Charges Deloitte & Touche For Adelphia Audit - Deloitte To Pay $50 Million To Settle

    Date 26/04/2005

    The Securities and Exchange Commission today announced that Deloitte & Touche LLP has agreed to pay $50 million to settle charges stemming from its audit of Adelphia Communications Corporation's fiscal year 2000 financial statements. The Commission issued an Order that finds that Deloitte engaged in improper professional conduct and caused Adelphia's violations of the recordkeeping provisions of the securities laws because it failed to detect a massive fraud perpetrated by Adelphia and certain m

  • SEC Charges Deloitte & Touche And Two Of Its Personnel For Failures In Their Audit Of Just For Feet

    Date 26/04/2005

    The Securities and Exchange Commission today issued an Order instituting public administrative proceedings against Deloitte & Touche LLP based upon its failed audit in 1999 of the fiscal 1998 financial statements of Just for Feet, Inc., a now-defunct shoe and sports apparel retailer once headquartered in Birmingham, Alabama, for which the firm received audit fees of approximately $361,000. The engagement partner, Steven H. Barry, CPA, and the audit manager, Karen T. Baker, CPA, were also charged

  • Richard Nesbitt Speaks At Annual And Special Meeting - TSX Group CEO Remarks To AGM April 2005

    Date 26/04/2005

    TSX Group CEO, Richard Nesbitt spoke today at the Annual and Special Meeting of the company, held in Calgary, Alberta.