SEC | Wall Street Folly

More Galleon witnesses were wired; Smarter money: Just as it was with short sellers, now it’s all CDS traders’ fault’ Barclays wants U.S. retail bank; Dubai World debt talks progress; More preying on Madoff victims; Business Coalition getting more vocal in Obamacare opposition; SEC economist said to be leaving after Short Sale rules conflict; Apollo said to be buying Citigroup real estate unit; Google launches web apps store

Posted by WSF On March - 10 - 2010

More Wore Wires in Bid to Investigate Inside Trades in Galleon Case
Swaps Come Under Fire
Barclays on the Hunt for a U.S. Retail Bank
Dubai Made Progress in Debt Talks, U.K. Minister Says
Internet hustlers go after Madoff victims
Obama’s Health-Care Push Gets Challenge From Business Coalition
SEC Economist Leaving Amid Short-Sale Rules Conflict Read the rest of this entry »

Tags: Barack Obama, Barclays, Bernie Madoff, CDS, Citigroup, Dubai World, Galleon, Google, Hedge funds, Insider Trading, Obamacare, Politics, Raj Rajaratnam, SEC, Short selling

WSF

Changes on the way for Obama’s proposed bank fee?; Could Spain be the euro’s undoing?; National Highway Traffic Safety Administration takes knocks at Toyota hearing; SEC passes new short selling rules; Bernanke expects low interest rates for awhile; Plug may be pulled on Hummer after Chinese deal collapse

Posted by WSF On February - 25 - 2010

Obama’s $90 Billion Bank Fee May Be Revised by Panel
The Euro’s Next Battleground: Spain
At Toyota hearings, auto safety agency feels the heat
Hoping to prevent stock meltdowns, SEC passes short-selling rules
Fed chief Bernanke expects extended hold on interest rates
Hummer Faces Shutdown After Chinese Sale Collapses Read the rest of this entry »

Tags: Autos, Banks, Barack Obama, Ben Bernanke, Euro, Fed, Greece, Interest Rates, Politics, SEC, Short selling, Spain, Toyota

Autos, Banks, Barack Obama, Ben Bernanke, Fed, Interest Rates, SEC, Short selling

702 banks now on FDIC endangered list; SEC is voting today on short selling changes; Credit Suisse bankers who opted for bonuses in toxic securities are banking!; Toyota big boss on congressional hot seat today; GM’s Hummer deal with China said to be in trouble; EU initiating a Google antitrust probe

Posted by WSF On February - 24 - 2010

At F.D.I.C. , Bracing for a Wave of Failures
SEC Disappointing Goldman Sachs Amid Vote on Short-Sale Curb
Bon Appétit: ‘Toxic’ Bonus Yields 72% at Credit Suisse
Japan to probe Toyota acceleration complaints
‘Consumer Reports’ still likes Prius as top eco-friendly car
A Tough Test Before Congress for Toyota’s Chief
EU Opens Google Antitrust Inquiry
GM Said to Not Win China’s Approval for Hummer Deal Read the rest of this entry »

Tags: Antitrust, Autos, Bank failures, Banks, Bonuses, Compensation, Consumer Reports, Credit Suisse, FDIC, GM, Goldman Sachs, Google, recalls, SEC, Short selling, Toyota

Autos, Banks, Bonuses, Compensation, Credit Suisse, Goldman Sachs, SEC, Short selling

Toyota on the Congressional hot seat over misleading public; Judge reluctantly OKs B of A / SEC settlement; Harvard economist predicts multiple sovereign debt defaults; Jamie Dimon, other CEOs will break bread with Obama; Allen Stanford receiver suing Dems, Repubs to get contributions back

Posted by WSF On February - 23 - 2010

Congress says Toyota misled public about runaway cars, engine electronics
Toyota’s U.S. Chief Says No Problem With Electronics, Apologizes in Testimony
Judge approves BofA settlement with SEC
Harvard’s Rogoff Sees ‘Bunch’ of Sovereign Defaults
Seidenberg, Dimon Among CEOs Said to Dine With Obama Tomorrow
Stanford Receiver Sues Democratic, Republican Groups
TPG, KKR Said to Near Purchase of Morgan Stanley’s CICC Stake Read the rest of this entry »

Tags: Allen Stanford, Bank of America, Barack Obama, Economists, Harvard, Inquisitions, Jamie Dimon, KKR, Morgan Stanley, recalls, SEC, Sovereign debt, Toyota, TPG

Allen Stanford, Autos, Bank of America, Barack Obama, Jamie Dimon, SEC

Discount rate hike a signal of lower bank profits to come?; New Dodd financial overhaul bill coming next week; Toyota president will testify before congress; AIG scotches plan to sell derivatives portfolio; Allen Sanford wants SEC fraud lawsuit dismissed; Blackstone joining GGP bid?; States face big retiree benefit shortfall

Posted by WSF On February - 19 - 2010

Fed Move May Signal End to Easy Bank Profits
Dodd to Unveil Financial Overhaul Bill Next Week
Toyota’s Chief to Testify to U.S. Congress on Recalls
AIG drops plan to sell derivatives portfolio
Allen Stanford Asks Judge to Dismiss SEC Lawsuit Alleging Fraud
Blackstone Said to Consider Joining Simon’s GGP Bid
States short $1 trillion to fund retiree benefits Read the rest of this entry »

Tags: AIG, Allen Stanford, Autos, Banks, Blackstone Group, Discount rate, Fed, Politics, SEC, Toyota

AIG, Allen Stanford, Autos, Banks, Fed, Politics, SEC

B of A: The SEC vs Cuomo; SEC says B of A general counsel fired so that Moynihan would stay; Raj Rajaratnam victory: his trial will begin Oct 25, after civil trial date; Bill Ackman’s GGP score stands to be more than a 20 bagger; LBO debt getting hit

Posted by WSF On February - 18 - 2010

SEC Sets Up Showdown With Cuomo Over BofA
BofA Fired Top Lawyer to Retain Moynihan, SEC Says
Rajaratnam Wins Fraud Trial Date After SEC Civil Case
Ackman May Make $170 Million on ‘Grand Slam’ General Growth Bet
LBO Debt Sinks as Stock Investors Reject IPOs: Credit Markets Read the rest of this entry »

Tags: Activists, Andrew Cuomo, Bank of America, Bill Ackman, Galleon, High yield debt, Insider Trading, LBOs, Raj Rajaratnam, SEC

Bank of America, Hedge funds, SEC

China ups reserve ratio; Ex-Goldman programmer indicted; Raj Rajaratnam wins one; Bank of America judge has more questions over their proposed SEC settlement; Prosecutors going after Madoff brother, sons over tax fraud; Madoff aide gets bail

Posted by WSF On February - 12 - 2010

China Hikes Reserve Ratio Amid Brisk Loan Growth
Programmer Indicted in Theft of Goldman Software
Rajaratnam Wins Ruling Postponing Wiretap Turnover
Bank of America Judge Poses 8 Questions on SEC Accord
Prosecutors Set Sights on Madoff Kin
Madoff Aide DiPascali Granted Bail Pending Sentencing Read the rest of this entry »

Tags: Bank of America, Bernie Madoff, China, Galleon, Goldman Sachs, Hedge funds, Insider Trading, Interest Rates, Raj Rajaratnam, SEC, Tax Fraud, Toyota

Bank of America, Bernie Madoff, Goldman Sachs, Hedge funds, Insider Trading, SEC

Lehman examiner files sealed report on banks’ role in the firm’s downfall – he wants it public; DE Shaw is looking to pick off rival hedge funds’ distressed portfolios; A look at the SEC and the team that’s tasked to prevent another Madoff; Ex-Morgan Stanley banker Zaoui may put out his own shingle

Posted by WSF On February - 9 - 2010

Lehman Brothers Examiner Files Sealed Report on Role of Banks
DE Shaw mobilises team to buy distressed assets of fund rivals
S.E.C. Enforcers Focus on Avoiding Madoff Repeat
Ex-Morgan Stanley Banker Zaoui Said to Weigh Own Firm Read the rest of this entry »

Tags: Bankruptcy, Bernie Madoff, DE Shaw, Distressed, Hedge funds, Lehman Brothers, Morgan Stanley, SEC

Banks, Bernie Madoff, Hedge funds, SEC

Danielle Chiesi speaks, claims there’s no chance she’ll do time and says “it’s an honor and privilege” to stand with Rajaratnam; Hedge funds in a Euro shorting spree; Would Greece asking for help send the ‘wrong signal’?; Barclays CEO disses the Volcker Plan; Judge questioning B of A SEC settlement (again), Price at peril?; UBS ups bonus pool by 34% (as its clients pull more money); Mired in Fannie and Freddie; Toyota recalling 437K hybrids

Posted by WSF On February - 9 - 2010

Confident Chiesi breaks silence
Galleon Tipper Goel Pleads Guilty, Says Rajaratnam Got Secrets
Traders in record bet against the euro
Greece Says Call for Aid Would Send ‘Worst Signal’
Barclays CEO Says U.S. Plans ‘Bad’ for Global Rules
Judge Questions Bank of America’s New Deal With S.E.C.
BofA’s Price may need to be sidelined
UBS Increases Bonus Pool 34% to 2.9 Billion Francs Read the rest of this entry »

Tags: Autos, Bank of America, Barclays, Bonuses, Compensation, Currencies, Euro, Fannie Mae / Freddie Mac, Galleon, Greece, Hedge funds, Insider Trading, Politics, Raj Rajaratnam, recalls, SEC, Sovereign debt, Toyota, UBS

Autos, Barclays, Bonuses, Compensation, Hedge funds, Insider Trading, Politics, SEC

Still awaiting Lloyd Blankfein’s number, Jamie Dimon got $10M in shares; You’d think he was running for office or something: Cuomo charges BofA and Lewis even as SEC settles; Fanning populist fires, beseiged Senators propose big Bailout Banks bonus tax; Greek CDS soars; SEC charges, settles with State Street

Posted by WSF On February - 5 - 2010

Dimon receives $10m shares
Cuomo charges BofA, ex-CEO with fraud; SEC settles
Senators Propose 50% Bonus Tax on Banks That Got Bailout Funds
Cost of Insuring Greek Debt Soars
SEC Charges State Street Over Subprime Mortgage Investments
Japan Transport Min: Toyota Mulling Recall Prius Recall
Euro-Zone Debt Worries Hit Stocks And Euro Again Read the rest of this entry »

Tags: Andrew Cuomo, Bank of America, Bonuses, CDS, Compensation, Goldman Sachs, Greece, Jamie Dimon, JP Morgan, Ken Lewis, Lloyd Blankfein, Politics, SEC, Sovereign debt

Bank of America, Banks, Bonuses, Compensation, Goldman Sachs, JPM Chase, Jamie Dimon, Lloyd Blankfein, Politics, Taxes

What boobs!: Some SEC staffers have been surfing for porn during work hours; FSA puts UK banks in a bad spot over bonuses — they risk losing their licenses; Pali Capital employees heading for the exits; The return of leveraged loans; Europe is backing Greece’s financial disaster plans

Posted by WSF On February - 3 - 2010

SEC staff monitors stocks & bond-age
Banks told to comply on bonuses or lose UK banking licences in shock FSA ultimatum
Pali Capital Defections Roll On As Firm’s Future Uncertain
Leveraged loan financing comes out of deep-freeze
Greece wins Europe’s backing for moves to avert financial disaster Read the rest of this entry »

Tags: Bonuses, Compensation, FSA, Greece, leveraged loans, Porn, Revolving Door, SEC

Bernie Madoff, Bonuses, SEC

Derivatives probe: SEC asks John Paulson for info on his winning subprime bets; B of A going on broker hiring spree, it’s bonus pool is over $4B; Dodd knocks Obama’s Wall Street regulation plan;’ Volcker Rule’ meeting resistance; Wire wearing Slaine charged in Galleon insider trading case; AIG to pay reduced bonuses; Madoff victims’ claims decision on the way

Posted by WSF On February - 3 - 2010

SEC asks Paulson fund for information
BofA push for 2,000 more retail brokers
BofA’s Banker-Pay Pool: $4 Billion
Dodd Calls Obama Plan Too Grand
Senators cool to ‘Volcker rule’
Investor charged in Galleon insider trading case
Mole Who Wore Wire In Galleon Case Is Identified
Despite Critics, AIG Sets Bonuses Read the rest of this entry »

Tags: AIG, Bank of America, Bernie Madoff, Bonuses, Christopher Dodd, Compensation, Galleon, Hedge funds, Hiring, Insider Trading, John Paulson, Paulson & Co, Raj Rajaratnam, Revolving Door, SEC

AIG, Bank of America, Bernie Madoff, Hedge funds, Insider Trading

AIG: Geithner on the testimony hot seat on Jan 27; Crisis panel calling Greenspan and Cox to testify; Citigroup cash bonuses to be capped at less than $100K?; JP Morgan earnings beat, but revenues light; Sheila Bair throws Fed under the bus; More fury over Obama’s new banker tax

Posted by WSF On January - 15 - 2010

Geithner to Testify Jan. 27 About AIG E-Mail Exchange
U.S. financial crisis panel to call Greenspan, Cox
Citigroup plans to cap cash bonuses
JPMorgan fourth-quarter profits soar
FDIC blames Federal Reserve for severity of financial crisis
Bankers’ fury at levy on US subsidiaries
Dodd Said to Weigh Dropping Consumer Agency From Overhaul Plan Read the rest of this entry »

Tags: AIG, Alan Greenspan, Barack Obama, Bonuses, Chris Cox, Compensation, FDIC, Intel, JP Morgan, Politics, retailers, SEC, Sheila Bair, Taxes, Tim Geithner, U.S. Treasury

AIG, Banks, Barack Obama, Bonuses, Citigroup, Compensation, Economy, Fed, JPM Chase, Jamie Dimon, Taxes, Tim Geithner, U.S. Treasury

Obama’s new bank tax unveiled today; Barney Frank continuing assault on Wall Street pay; Geithner’s AIG phone records demanded by House committee; Dudley defends AIG bailout; Banker testimony post mortem; Bank of America’s bonuses getting much shorter on cash; More hedge funders winding up getting jobs at the SEC; Foreclosures at a record and still expected to rise

Posted by WSF On January - 14 - 2010

Obama’s Bank Tax Seeks $90 Billion to Repay Bailout
US Rep Frank: Determined To Look Into Wall Street Pay
Geithner faces demand for AIG phone records
Fed’s Dudley Defends AIG Bailout
Top bankers forced on to the defensive
Wall Street bankers on defensive in grilling over financial crisis
Panel Rips Wall Street Titans
Bank of America May Trim Cash Part of Bonuses to 15%
Hedge funds seen losing staff to the SEC: survey Read the rest of this entry »

Tags: AIG, Bank of America, Banks, Barack Obama, Barney Frank, Bonuses, Compensations, Foreclosures, Hedge funds, Politics, Real Estate, SEC, Taxes, Tim Geithner

AIG, Bank of America, Barack Obama, Bonuses, Compensation, Goldman Sachs, Hedge funds, JPM Chase, Jamie Dimon, John Mack, Lloyd Blankfein, Morgan Stanley, Politics, Revolving Door, SEC, Taxes, Tim Geithner

Obama will detail new bank tax plan on Thursday (fees that the banks will no doubt pass on); Get the popcorn ready: Bankers all set to get smacked around today as they testify before the latest congressional inquisition panel; Galleon tipper uncloaked; Rajaratnam slams the “cherry picked” wiretapped recordings; High frequency trading in the SEC spotlight; Thain talking to CIT; Google could exit China; Apple’s Steve Jobs still a bargain at $1 / year

Posted by WSF On January - 13 - 2010

Obama To Unveil Bank Fee Proposal Thursday – Official
Wall Street labels levy plan ‘absurd’
Financial crisis panel seeks bankers’ testimony
‘Tipper X’ Hangs Over Galleon
Galleon founder slams wiretaps
Citigroup Bonus May Trump Goldman’s
SEC Vote May Show Scope of High-Frequency Trading Regulations Read the rest of this entry »

Tags: Apple, Barack Obama, Bonuses, CIT, Compensation, Galleon, Google, Hedge funds, Insider Trading, John Thain, Politics, Raj Rajaratnam, SEC, Steve Jobs, Taxes

Barack Obama, Bonuses, China, Compensation, Goldman Sachs, Google, Hedge funds, Insider Trading, JPM Chase, Jamie Dimon, Lloyd Blankfein, Morgan Stanley, Politics, SEC, Steve Jobs, Taxes

White smoke! B of A has FINALLY anointed a Ken Lewis successor — from within; Secondary prices at only $3.15/share, below what Treasury paid — Will Vikram get the boot after Citigroup’s stock offer gets poor reception?; Meredith Whitney cuts Goldman, Morgan Stanley estimates; Lehman Brothers gets ok to pay $50 million in bonuses; Dubai Properties staying the course with Tiger Woods

Posted by WSF On December - 17 - 2009

Bank of America names Brian Moynihan as new CEO
U.S. Delays Sale of Citigroup Stake as Shares Sell at Discount
Bernanke confirmation seen passing first hurdle
Meredith Whitney Cuts Goldman Sachs, Morgan Stanley Estimates
Lehman to pay $50m in bonuses
U.S. says Credit Suisse schemed to evade sanctions
SEC tightens rules on investment advisers, corporate transparency
Tiger Woods Dubai Says It’s Committed to Golf Course Read the rest of this entry »

Tags: Bank of America, Ben Bernanke, Citigroup, Fed, Goldman Sachs, Lehman Brothers, Meredith Whitney, Morgan Stanley, SEC, Tiger Woods, Vikram Pandit

Bank of America, Bonuses, Citigroup, Credit Suisse, Goldman Sachs, Meredith Whitney, Politics

Barclays Diamond dumps on bonus tax; Is the pay czar blinking over AIG pay caps?; Morgan Stanley management shuffle; SEC looking for public input on high frequency trading; Citi, Wells Fargo TARP impasse; Cuomo focusing on B of A’s Greg Curl; More Dubai debt problems?; So far debt raters have skated by relatively unscathed (which is bizarre); Galleon case delay, Ex FBI agent dishes on failed earlier Galleon probe

Posted by WSF On December - 8 - 2009

Barclays’ Diamond Criticizes Bonus Tax, Sees Regulator Missteps
Feinberg Said to Lift $500,000 Salary Limit for AIG Executives
Morgan Stanley Shuffles Executive Suite
SEC probing high-frequency strategies, co-location
Banks, U.S. Spar Over TARP Repayment
Bank of America Executive Under Scrutiny
Dubai World Met Six Creditors Yesterday on Debt, Banker Says
Dubai’s Debt Problems May Swell, Morgan Stanley Says
Debt Raters Avoid Overhaul After Crisis
Galleon Insider-Trading Case Delayed for a Month Read the rest of this entry »

Tags: AIG, Barclays, Bob Diamond, Citigroup, Dubai, Galleon, Mark Cuban, Morgan Stanley, Pay czar, Raj Rajaratnam, SEC, Sovereign wealth funds, TARP, Wells Fargo

AIG, Barclays, Citigroup, Hedge funds, Insider Trading, Legal, Morgan Stanley, SEC

Breaking up is hard to do: B of A having more problems rounding up a CEO; Bernanke said to have support by Banking panel majority; SEC getting busy with more insider trading probes; TARP warrant auctions on tap; Henderson ousted; Rothstein charged in $1.2B Ponzi scheme; Merrill sued; FTC studying aid to news organizations; Poll shows November consumer pessimism

Posted by WSF On December - 2 - 2009

BofA Breakup Is New Snag in CEO Hunt
Bernanke to defend his record and the Fed’s
Bernanke Has Support of Majority of Senators on Banking Panel
SEC Steps Up Insider-Trading Probes
U.S. Taxpayers May Reap $3.17 Billion in TARP Warrant Auctions
GM fires CEO Henderson. The board wants an outsider.
Rothstein Charged in Ponzi Scheme
Wells Fargo to shut 122 branches in state
Merrill Sued by Client in Hong Kong Over $13 Million in Losses Read the rest of this entry »

Tags: Autos, Bank of America, Ben Bernanke, Fed, GM, Insider Trading, Merrill Lynch, ponzi schemes, Retailing, Revolving Door, SEC, TARP, Wells Fargo

Autos, Bank of America, Ben Bernanke, Fed, Insider Trading, Revolving Door, SEC

Dubai tensions seem to be easing; AIG closes on 2 debt for equity swaps with NY Fed; Investor who put money with Madoff 6 days before collapse slapped down; GE/Vivendi agree on NBC stake value; A 180: Jim Cramer retreats on stock transaction tax; Did SEC staffers being probe to see if they “committed acts of negligence”; CBOE demutualization close?

Posted by WSF On December - 1 - 2009

U.A.E. Leaders Try to Ease Concerns Over Dubai
Dubai World in Talks on $26 Billion of Debt, Rest Is ‘Stable’
AIG closes debt for equity deal with NY Fed
Madoff Investor Rosenman Loses Bid to Recover Assets
GE, Vivendi Agree on $5.8 Billion Value for NBC Stake
Cramer reverses his stance on stock-trade levy
SEC Watchdog Eyes Insider Trading Probe
Carlyle Group sued over collapsed fund
CBOE to demutualise ‘within days’ Read the rest of this entry »

Tags: AIG, Bernie Madoff, Carlyle, CBOE, Credit Crunch, Dubai, Jim Cramer, retailers, SEC, Sovereign wealth funds

AIG, Bernie Madoff, Carlyle, Jim Cramer, SEC

Goldman Sachs bonuses now said to be coming under assault from large shareholders; SEC must fix the way it chooses who to investigate; Former Pequot guy told his therapist he was fired after he stopped providing tips to Samberg; Tough day at the office for Geithner; Commodities on record pace for inflows; Senator Giuliani?; Oprah waving goodbye to network tv in ‘11; Zucker on Leno move

Posted by WSF On November - 20 - 2009

Goldman Holders Miffed at Bonuses
SEC told to improve ways it chooses probe targets
Pequot Worker Told Therapist That Samberg Sought Tips
House Attacks Fed, Treasury
Commodities to Get Record $60 Billion, Barclays Says
Giuliani Said to Consider Run for U.S. Senate Over Governorship
Problem mortgages hit new high at 14 percent
GM Says Auto Sales Rate May Be 10.8 Million in Sign of Recovery
Zucker Says He Regrets Focus on Margins in Leno Shift
Winfrey’s long goodbye Read the rest of this entry »

Tags: Art Samberg, Bonuses, Commodities, Compensation, GM, Goldman Sachs, Oprah, Pequot, Politics, Rudy Giuliani, SEC, Tim Geithner, U.S. Treasury

Autos, Bonuses, Compensation, GM, Goldman Sachs, Hedge funds, Politics

Bernie Madoff’s son cracking under the pressure? He went missing for a night after a fight with his wife; B of A loss; Ken Lewis won’t get paid; More Goldman bonus chatter; Soros sees U.S. a drag on world economy; Wasserstein $188M payout; SEC hired a Goldman guy; UBS sees lots of hedge fund start ups

Posted by WSF On October - 16 - 2009

Madoff son ‘runs away’
Bank of America Posts Third-Quarter Loss on Consumer Defaults
Press Release: Bank of America Announces Third-Quarter Net Loss of $1.0 Billion
Czar Blocks BofA Chief’s Pay
Bonuses Put Goldman in Public Relations Bind
Soros says U.S. economy will be drag on world growth
Wasserstein Death Payout: $188 Million Read the rest of this entry »

Tags: Bank of America, Bernie Madoff, Bonuses, Bruce Wasserstein, Compensation, Economy, George Soros, Goldman Sachs, Google, Hedge funds, Ken Lewis, Lazard, SEC, UBS

WSF

Goldman beats estimates — was there ever any doubt?; Tough branding job: A kinder, gentler Goldman?; Citi’s itty bitty profit; R.I.P. Bruce Wasserstein, he’ll be a tough act to follow; Calpers’ ‘Pay to Play’ mess; ‘Twas inevitable: SEC gets sued by Madoff Scamee; Bear Stearns trial duel: Cioffi defense says tapes will help; prosecutors claims they lied

Posted by WSF On October - 15 - 2009

Goldman Sachs Net Beats Estimates on Trading, Investment Gains
Press release: Goldman Sachs Reports Third Quarter Earnings Per Common Share of $5.25
Goldman Sachs Bonus Stigma May Overshadow Charitable Endeavors
Goldman’s Soft Sell: Its Warm, Fuzzy Side
Press release: Citigroup Reports Third Quarter Net Income of $101 Million
Wasserstein Dies, Leaves Deal-Making Legacy
Lazerd Press Release: Lazard Chairman & CEO Bruce Wasserstein, Age 61, Dies
Wasserstein role will be hard to fill Read the rest of this entry »

Tags: Bear Stearns, Bernie Madoff, Bruce Wasserstein, Calpers, CIT, Citigroup, Goldman Sachs, Hedge funds, Lawsuit, Lazard, Legal, Nokia, Obituaries, SEC