Summary of Recent Business Headlines

 

The NASDQ computer system was reportedly attacked by hackers. Reuters reports that sensitive investors’ data was not accessed but the SEC and FBI are investigating the incident.
 
On Friday, the S&P 500 finished at its all time high in the nine weeks.
 
TD Ameritrade Holding Corp is expected to settle a securities fraud case with the SEC. The regulators accused the brokerage firm of misleading investors through misleading statements made by the firm’s sales force.
 
SEC chairperson has warned that with the Republican pledge to reduce federal spending, monitoring Wall Street will be in difficult task. SEC worries that budgetary and staffing shortages will enable fraudulent activities to soar.
 
Many companies are not properly informing investors about the true costs of litigation  incurred. SEC has begun a crack down to warn companies not to mislead investors.
The new mortgage standards imposed by Congress may deepen the housing crisis, according to industry analyst.
 
The US Senate has rejected the repeal of Obama Health Care.
 
More than 25 percent of students who attend for-profit schools default on their federal student loans. The US Department of Education is finalizing new regulations to make it more difficult for these institutions to participate in the federal student loan program.