Securities and Exchange Commission Comment Letter Disclosures and Short Sellers’ Front Running

Short sellers and corporate disclosures

We examine how short sellers affect corporate disclosures using a natural experiment. From May 2005 to July 2007, the SEC implemented a pilot program by randomly selecting one third of Russell 3000 stocks and removing the short sale price tests for these stocks (referred to as pilot firms), leading to lower short-selling constraint, without changing the requirement for other firms (referred to ...

Report of the Securities and Exchange Commission on Questionable and Illegal Corporate Payments and Practices

Financial Management of Gas and Electric Utilities by the Securities and Exchange Commission

The title actually assigned to me for discussion on this occasion had a slightly more academic ring than the one I have chosen. I see no reason why, even before this group, a “spade” need be defined as “an elongated instrument by which perspiration and energy are applied to the movement of loose material from one place to another”; let’s just call it a “spade.” Let’s recognize that the Public U...

Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants AGENCY: Securities and Exchange Commission. ACTION: Proposed rule. SUMMARY: The Securities and Exchange

The Securities and Exchange Commission (‘‘Commission’’) is proposing for comment new rules under the Securities Exchange Act of 1934 (‘‘Exchange Act’’) that are intended to implement provisions of Title VII (‘‘Title VII’’) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (‘‘Dodd-Frank Act’’) relating to external business conduct standards for security-based swap dealers ...

Expertise as Power: A Case Study of the Securities and Exchange Commission