When I saw, as I was monitoring Twitter late Thursday night, that “Go” would prevail over “Remain” I came into work on Friday morning with a different idea for a story about Interactive Broker than I had originally planned.
Word got out early that the SEC would approve IEX’s application to become a stock exchange on Friday the 17th. As usual, the leak traveled to the big media outlets earlier that week and then the rest of us waited for announcement from the SEC all day.
Next Up: July 1, 2016, On a panel at the Financial Times Camp Alphaville Festival of Finance, London England. I will be talking about spotting corporate fraud with Carson Block of Muddy Waters Research on a panel moderated by the FT’s Dan McCrum.
New academic research says accounting students are less likely to be psychopaths who will commit fraud but surprising admissions by some suggest a reason to be wary.
An Appeals Court said there’s enough to proceed on allegations SAIC recklessly disregarded its obligation to disclose potential liability for the CityTime fraud in its March 2011 10K.
One area I am covering now at MarketWatch is market structure, specifically the equity markets. Reforming equity markets is a big ongoing issue, especially after the May 2010 flash crash. Here’s a summary of the articles, updated for a new one on February 3, I’ve written since May on the subject and some background on some of the many controversies.
At MarketWatch I am fortunate that I am not expected to write a story every day, although that’s fine if something comes up like an SEC enforcement order or a spectacular corporate scandal. I am encouraged, instead, to come up with original analysis of important stories in financial regulation and legislation. We want to add […]
Jim Doty’s term as chairman of the PCAOB, the audit regulator, expired in October. All summer since I arrived in Washington D.C., leading up to that date and since, there’s been speculation about whether or not SEC Chairwoman Mary Jo White would reappoint him to the job.
The PCAOB will vote on final rule based on its proposal on Tuesday Dec 15. If audit partner names were published in the audit report, or anywhere, the public, audit committees, investors and journalists could stop lousy auditors in their tracks. Melissa Koeppel of Grant Thornton is the best case yet for making audit partner names and their engagement history, disciplinary history, and litigation history public.
Now that Valeant has cut off the gangrenous Philidor arm, we may never know the true extent of any accounting manipulation or fraud. And then again it may all come out when the rest of the organization is scrutinized. I’d say be prepared for big inventory writeoffs, or maybe even a restatement.