Pages

Search This Blog

Translate

Search Tool




Dec 10, 2014

SEC Press Release - December 10, 2014: Names Karol Pollock to Lead Exam Program in Los Angeles Office

SEC Seal

12/10/2014 02:30 PM EST

The Securities and Exchange Commission today announced that Karol L.K. Pollock has been named the new leader of the examination program in the Los Angeles Regional Office.


Ms. Pollock has nearly 25 years of experience in securities enforcement and examination regulation at the SEC, FINRA, and New Mexico Securities Division as well as in the private sector.  She has worked in the SEC’s Los Angeles office for the past 10 years, starting as a staff attorney in the Enforcement Division and later serving as a branch chief.  In 2009, she became Assistant Director of the exam program, and was named Deputy Associate Director last year.


In her new role as Associate Director of the exam program in the Los Angeles office, Ms. Pollock will oversee a staff of approximately 60 examiners, accountants, and attorneys responsible for examining firms in Southern California, Nevada, Arizona, Hawaii, and Guam.


“Karol has demonstrated an unwavering commitment to protecting investors and our capital markets in a way that is fair, creative, and effective,” said Andrew Bowden, Director of the SEC’s National Exam Program.  “We are thrilled to recognize her accomplishments and promote her leadership in the National Exam Program.”

Michele Wein Layne, Director of the Los Angeles Regional Office, added, “Karol has been an inspiring leader in our office beyond our examinations program, and we are very fortunate to have her assume full leadership of our exemplary exam staff.  Karol’s tireless and enthusiastic commitment to investor protection is a true inspiration for her colleagues throughout the SEC.”


Ms. Pollock said, “I greatly admire the talent and dedication of the exam staff and look forward to working with them to protect investors.”


During her tenure, Ms. Pollock played a significant role in numerous SEC enforcement actions, including a 2008 case against five former San Diego city officials involved in inadequate municipal securities disclosures.  She also helped litigate a case against the former CEO and former CFO of Gemstar-TV Guide International for their roles in a widespread and complex scheme to inflate licensing and advertising revenues.

Ms. Pollock is a graduate of the University of Illinois and Loyola University School of Law.

DealBook P.M. Edition - December 10, 2014: Two Insider Trading Convictions Are Overturned in Blow to Prosecutors.

For the latest updates, go to dealbook.nytimes.com »
WEDNESDAY, DECEMBER 10, 2014
TOP STORY
A federal appeals court tossed out the insider case against two former hedge fund traders, Todd Newman, left, and Anthony Chiasson.
Two Insider Trading Convictions Are Overturned in Blow to Prosecutors The ruling in the case against two former hedge fund traders, Todd Newman and Anthony Chiasson, is a blow to prosecutors' campaign to crack down on insider trading.
A sign for Level Global Investors in an office building in Greenwich, Conn. The F.B.I. raided the offices in November 2010.
How the Whiff of Insider Trading Felled 2 Hedge FundsIt took only the government's suspicions of insider trading for investors to lose confidence in the hedge funds where Todd Newman and Anthony Chiasson worked.
For the latest updates, go to dealbook.nytimes.com »
ADVERTISEMENT
DEALBOOK HIGHLIGHTS
Many Feel the American Dream Is Out of Reach, Poll Shows Only 64 percent of respondents in an opinion poll on economic and financial issues said they still believed in the American dream, the lowest result in roughly two decades.
The Robin Hood Foundation's annual gala is one of the biggest nights of giving in the charity world.
The Trade: A Shake-Up as the Financial World Infiltrates Philanthropy Donor-advised funds help investors get deductions for charitable donations in one year, but society doesn't get the benefit of the money right away, Jesse Eisinger writes in The Trade column.
JPMorgan Chase is likely to have the biggest need among the major banks for more capital under new rules.
JPMorgan Chase Says It Hopes to Meet New Capital Rules With No Major Changes A Federal Reserve official singled out JPMorgan Chase as the bank likely to have the biggest need for more capital under the rules. It could be required to increase its capital by $22 billion.
Martin Wheatley, the chief executive of the Financial Conduct Authority, is one of four top officials giving up their bonuses.
4 at British Regulator to Give Up Bonuses Over Botched Insurance Briefing Martin Wheatley, the head of Britain's Financial Conduct Authority, and three others will give up their bonuses because an agency briefing in March to a London newspaper sent life insurance stocks lower.
Eike Batista inside a Rio de Janeiro court room last month.
Eike Batista's Electricity Company in Brazil Seeks Bankruptcy Protection The firm, Eneva, joins Mr. Batista's petroleum exploration company OGX, his naval construction company OSX and his mining company MMX in seeking to renegotiate their obligations.
Coupang is a Korean e-commerce company.
Coupang, a South Korean E-Commerce Site, Raises $300 Million The latest financing round underscores Coupang's maturity and its ambitions to one day be a publicly traded company.
Didi Dache, a Chinese Ride-Hailing App, Raises $700 Million The Singapore investor Temasek and the Chinese social network operator Tencent are among the leaders of the fund-raising round for a company that says it has 10 times the ridership of Uber.
The headquarters of HSBC in London.
HSBC Dismisses Senior Currency Trader in LondonHSBC fired its head of foreign exchange trading for Europe, the Middle East and Africa. More than 30 currency traders at some of the world's largest banks have either been suspended or fired over misconduct in the banks' currency operations.
The logo for Sika, the Swiss specialty chemical maker, on a building in Zurich.
Family That Controls Sika Looks to Replace Directors Who Opposed Sale The Burkard family wants to replace Sika's chairman and two other directors after they opposed the family's bid to sell its controlling stake in Sika to the French conglomerate Saint-Gobain.
Canary Wharf now features 34 office buildings and nearly 700,000 square feet of retail space.
Support Grows for Qatari-Led Bid for Owner of Canary Wharf The Qatar Investment Fund and Brookfield Property Partners said EMS Capital had sent a nonbinding letter indicating it intended to accept their hostile bid for Songbird Estates, which has a controlling stake in the Canary Wharf Group.
A Standard Chartered bank branch in Hong Kong.
Standard Chartered Agrees to 3-Year Extension of Nonprosecution Agreements The British bank said it was cooperating with "an ongoing U.S. sanctions-related investigation" and that the extension was needed for prosecutors to determine whether any violations had occurred.
Billy Salomon, managing partner of Salomon Brothers & Hutzler, in 1965.
Reuters Breakingviews: William Salomon Dies as Era of Wall Street Trading Desks Is Returning Wall Street trading is slowly returning to the less risky business that was Billy Salomon's style, Antony Currie writes in Reuters Breakingviews.
SPECIAL SECTION: THE DEAL CYCLE
The Mergers and Acquisitions Cycle: Buy. Divide. Conquer. The current deal-making boom has been filled with headline-grabbing mergers. At the same time, corporate America is spinning off assets by the truckload. Who is creating more value?
Graphic: The Activist Investor Scorecard Sometimes, these investors achieve nearly all their goals. Other times, they achieve their goals and still suffer losses - or they fall short of their goals and still make profits.
The Long Reach of Delaware's Corporate InfluenceWith more than 60 percent of public companies incorporated in Delaware, the state is king of the deal universe, setting the rules by which deal makers play.
Eric Rosenfeld, left, a start-up executive, with Roy Bahat, the head of Bloomberg Beta.
Venture Capital Is Looking for Ways to Outrun the Herd Venture capitalists have begun to offer a wide range of services in order to foster relationships that could eventually prove lucrative.
Adam Quirk at Cardinal Spirits, a distillery in Bloomington, Ind., which used Localstake, a crowdfunding platform,  to raise $850,000 last year.
Start-Ups Turn to the Crowd for Financing The S.E.C. has yet to complete the crowdfunding rules for the Jumpstart Our Business Startups Act, but a lively debate has begun.
Private Equity Change Favors Strongest Firms Investors are receiving a flood of cash returns, which they are plowing back into the industry, emboldening them to bargain for more favorable terms.
Jan Koum, left, is chief executive of WhatsApp. Mark Zuckerberg of Facebook bought WhatsApp this year for a price that eventually topped $20 billion.
Lessons for Private Equity Learned From the Last Merger Frenzy Private equity firms have been largely sitting on the sidelines of the current acquisition frenzy.
A hospital in Shanghai. Demand for more and better health care products and services is growing.
Chinese Health Care Draws Investors Despite the system's challenges, the sector is becoming one of the most popular for those seeking the next great untapped market.
Xavier Rolet, the chief of the London Stock Exchange Group, in his vineyards in France.
London Stock Exchange's Westward Expansion Since taking the helm of the London exchange in May 2009, Xavier Rolet has changed it from a marketplace focused on trading cash equities into a diversified infrastructure company.
Karim Awad, co-chief executive of EFG Hermes, said Egyptian companies were
An Investment Bank Revives Along With Egypt After huge losses during the Arab Spring, EFG Hermes is again bringing companies public and placing foreign money into Egypt's booming stock market.
SEEKING INDEPENDENCE Yoël Zaoui, left, a former executive at Goldman Sachs, now runs Zaoui & Company. Roger Altman, Evercore's chairman, says large companies now trust smaller advisers.
Boutique Investment Banks Gain Prestige Though 2014 may have been a year of big deals, it was also a banner year for many of the smaller investment banks advising on them.
STIRRING THE POT From left: David Einhorn, William A. Ackman, Daniel S. Loeb and Carl C. Icahn have led a wave of successful activist campaigns this year. Activism is expected to remain a strong force on Wall Street in the near future.
Taking Recipes From the Activist Cookbook One fund, Starboard Value, issued a scathing 294-page critique of Darden Restaurants, which led to the replacement of the company's entire board.
Omers, the pension plan for municipal workers in Ontario, owns the Fairmont Banff Springs Hotel in Alberta.
Canada Finds Key to Pension Fund Investing Canadian-style investing has moved the nation's major pension plans largely out of government debt in search of higher returns.
A Brake on Reincorporating Abroad via Mergers A change in Treasury's rules on inversions upended some large merger deals. But analysts say they believe the changes will not end the practice.
DUELING DISCOUNTERS A move to consolidate in the budget retail industry has Family Dollar in the middle. The company has agreed to a lower offer from Dollar Tree, over one from Dollar General, largely because of antitrust issues.
After a Dry Spell, a Boom in Big Deals Low interest rates, strong stock prices and healthy capital balances set the scene for a flurry of large acquisitions, most of them traditional and relatively safe bets.
On Wall Street, Edge to Deal Makers For much of the last two decades, bankers advising big companies lost to powerful traders. Now, the pendulum is swinging back toward the deal makers.
LOOKING AHEAD
Reports From Commerce Department The economic front is relatively quiet this week. On Thursday, the Labor Department issues its weekly report on initial claims for unemployment benefits and the Commerce Department reports on retail sales data for November. On Friday, the Labor Department reports on the Producer Price Index for November.
For the latest updates, go to dealbook.nytimes.com »

WSJ | Biggest Decliners Closing on December 10, 2014.

Biggest Decliners Closing
Biggest Decliners
4:32 pm ET 12/10/2014
NYSE
ISSUEVOLUMEPRICECHG% CHG
Vaalco Energy (EGY)2,323,194$4.62-1.08-18.95
Transcontinental Realty Investors (TCI)35,4209.76-1.99-16.94
Seventy Seven Energy (SSE)1,676,3454.74-0.91-16.11
CHC Group (HELI)2,337,1423.70-0.68-15.53
Civeo (CVEO)4,345,6487.81-1.18-13.13
Independence Contract Drilling (ICD)83,7135.66-0.84-12.92
Scorpio Bulkers (SALT)2,326,3342.09-0.31-12.92
Atlas Energy (ATLS)2,263,69325.70-3.56-12.17
Atlas Pipeline Partners (APL)1,665,55023.32-3.20-12.07
Oasis Petroleum (OAS)12,485,53011.14-1.52-12.01
Ecopetrol ADS (EC)1,139,21815.63-1.98-11.24
Nuverra Environmental Solutions (NES)466,7146.55-0.82-11.13
Doral Financial (DRL)186,4073.96-0.48-10.81
Comstock Resources (CRK)2,986,6395.81-0.70-10.75
Peabody Energy (BTU)18,141,2047.77-0.91-10.48
Kosmos Energy (KOS)3,426,6627.30-0.85-10.43
Whiting Petroleum (WLL)9,641,35530.07-3.48-10.37
Daqo New Energy ADS (DQ)331,24923.82-2.72-10.25
Crescent Point Energy (CPG)545,38819.62-2.24-10.25
Talisman Energy (TLM)12,296,4293.79-0.43-10.19
Pacific Drilling (PACD)1,838,4834.66-0.52-10.04
ITT Educational Services (ESI)403,3618.13-0.89-9.87
W&T Offshore (WTI)2,139,3275.97-0.65-9.82
Pioneer Energy Services (PES)1,205,2724.75-0.51-9.70
Targa Resources Partners (NGLS)1,865,23740.58-4.35-9.68
 
Nasdaq
ISSUEVOLUMEPRICECHG% CHG
Mitcham Industries (MIND)336,580$5.71-1.44-20.14
StealthGas (GASS)1,344,7745.51-0.81-12.82
Conn's (CONN)4,786,59118.22-2.61-12.53
Virco Manufacturing (VIRC)941,3432.58-0.36-12.24
Auris Medical Holding (EARS)14,3524.08-0.53-11.42
Rosetta Resources (ROSE)3,123,58920.81-2.39-10.30
VelocityShares Daily Inverse VIX Short Term ETN (XIV)26,456,54834.03-3.85-10.16
Energy XXI (EXXI)8,341,5072.88-0.32-10.00
Linn Energy (LINE)6,740,91813.18-1.44-9.85
Green Plains (GPRE)2,124,68722.15-2.37-9.67
Onconova Therapeutics (ONTX)58,5004.00-0.42-9.50
Learning Tree International (LTRE)8,6012.23-0.23-9.35
LinnCo (LNCO)5,715,15411.65-1.20-9.34
Karyopharm Therapeutics (KPTI)645,07937.48-3.86-9.34
Tesco (TESO)465,67512.82-1.32-9.34
Comtech Telecommunications (CMTL)279,45135.33-3.62-9.29
NeuroDerm (NDRM)74,6457.01-0.68-8.84
Marrone Bio Innovations (MBII)73,4382.48-0.24-8.82
Amyris (AMRS)80,0722.42-0.23-8.68
SAExploration Holdings (SAEX)45,5444.12-0.38-8.44
Westport Innovations (WPRT)1,162,0833.66-0.33-8.27
TriMas (TRS)447,63529.37-2.63-8.22
Magnetek (MAG)37,41737.14-3.30-8.16
RigNet (RNET)190,44038.67-3.33-7.93
Triumph Bancorp (TBK)73,45012.91-1.09-7.79
 
NYSE Arca
ISSUEVOLUMEPRICECHG% CHG
Direxion Daily Natural Gas Related Bull 3x Shares (GASL)3,123,762$3.74-0.68-15.38
VelocityShares 3x Long Crude ETN (UWTI)2,074,9237.58-0.99-11.55
ProShares Short VIX Short-Term Futures ETF (SVXY)2,496,86866.84-7.64-10.26
Direxion Daily Energy Bull 3x Shares (ERX)4,712,94252.14-5.29-9.21
Direxion Daily Latin America Bull 3X Shares (LBJ)101,67811.75-1.14-8.84
UBS AG-2xMonthly Leveraged Long E-TRACS for Alerian MLP Infrastructure Index 2040 (MLPL)277,70652.16-5.04-8.81
Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG)31,727,6683.23-0.30-8.50
Direxion Daily Gold Miners Bull 3x Shares (NUGT)18,621,44013.17-1.13-7.90
ProShares Ultra Bloomberg Crude Oil (UCO)7,269,80113.62-1.11-7.54
ProShares UltraPro Russell2000 (URTY)698,78284.39-5.65-6.27
ProShares Ultra Oil&Gas (DIG)469,95748.71-3.26-6.27
Direxion Daily Small Cap Bull 3x Shares (TNA)10,260,56173.44-4.90-6.25
Market Vectors Colombia ETF (COLX)2,90212.85-0.83-6.07
Direxion Daily Russia Bull 3x Shares (RUSL)2,127,2874.81-0.31-6.05
Direxion Daily Brazil Bull 3X Shares (BRZU)274,1539.17-0.58-5.95
Guggenheim Canadian Energy Income ETF (ENY)12,38510.34-0.65-5.91
ProShares UltraPro MidCap400 (UMDD)9,152106.33-6.45-5.72
InfraCap MLP ETF (AMZA)11,75021.30-1.27-5.63
Direxion Daily Mid Cap Bull 3x Shares (MIDU)43,19190.64-5.40-5.62
Direxion Daily Semiconductor Bull 3X Shares (SOXL)196,879131.51-7.80-5.60
Direxion Daily Basic Materials Bull 3X Shares (MATL)5,45259.74-3.45-5.46
Global X MSCI Colombia ETF (GXG)253,28212.57-0.72-5.42
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)10,452,2254.48-0.25-5.29
Direxion Daily Japan Bull 3x Shares (JPNL)8,90541.18-2.26-5.20
UBS AG E_TRACS linked to Alerian Natural gas MLP Index 2040 (MLPG)16,47333.56-1.84-5.20
 
Composite
ISSUEVOLUMEPRICECHG% CHG
Mitcham Industries (MIND)336,580$5.71-1.44-20.14
Vaalco Energy (EGY)2,323,1944.62-1.08-18.95
Transcontinental Realty Investors (TCI)35,4209.76-1.99-16.94
Seventy Seven Energy (SSE)1,676,3454.74-0.91-16.11
IGI Laboratories (IG)4,407,2688.89-1.66-15.73
CHC Group (HELI)2,337,1423.70-0.68-15.53
Direxion Daily Natural Gas Related Bull 3x Shares (GASL)3,123,7623.74-0.68-15.38
EnerJex Resources (ENRJ)8,8662.21-0.39-15.00
Civeo (CVEO)4,345,6487.81-1.18-13.13
Independence Contract Drilling (ICD)83,7135.66-0.84-12.92
Scorpio Bulkers (SALT)2,326,3342.09-0.31-12.92
StealthGas (GASS)1,344,7745.51-0.81-12.82
Conn's (CONN)4,786,59118.22-2.61-12.53
Image Sensing Systems (ISNS)520,7842.95-0.42-12.46
Virco Manufacturing (VIRC)941,3432.58-0.36-12.24
Atlas Energy (ATLS)2,263,69325.70-3.56-12.17
Atlas Pipeline Partners (APL)1,665,55023.32-3.20-12.07
Oasis Petroleum (OAS)12,485,53011.14-1.52-12.01
VelocityShares 3x Long Crude ETN (UWTI)2,074,9237.58-0.99-11.55
Income Opportunity Realty Investors (IOT)7,7975.21-0.68-11.54
Auris Medical Holding (EARS)14,3524.08-0.53-11.42
Ecopetrol ADS (EC)1,139,21815.63-1.98-11.24
Nuverra Environmental Solutions (NES)466,7146.55-0.82-11.13
Crexendo Inc (EXE)7,1951.80-0.22-10.89
Doral Financial (DRL)186,4073.96-0.48-10.81
 
See All Decliners
 
Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS with prior day close of $2 a share or higher, with volume of at least 2,000.
x - stock is trading ex-dividend
Source: WSJ Market Data Group