The Securities and Exchange Commission will delay IEX's bid to become a full-fledged stock exchange and pointed to a recent tweak to its business model as the reason. IEX wants to put a 350 microsecond "speed bump" on stock orders as a way to keep out ultrafast traders from taking advantage of slower investors.Rivals, including...

The Immigration Act of 1924 was aimed at restricting immigration of Southern Europeans and Eastern Europeans primarily Jews. Proponents of the Act wanted to create a distinct American identity favoring native born Americans over Jews. Senator David Reed, one of the authors of the law believed that the Jews who arrived here were less...

A U.S. appeals court on Monday revived a $1 billion lawsuit accusing defense contractor Raytheon Co of fraudulently overbilling the federal government under a contract to develop a weather sensor for a costly environmental satellite system.The court said Mateski's claims went beyond publicly disclosed problems in developing the National Polar-Orbiting Operational Environmental Satellite System,...

The Department of Justice has now filed a motion asking a federal court to require Apple to help the FBI hack a cell phone owned by one of the San Bernardino shooter suspects. DOJ-motion-vs.-Apple A federal magistrate gave Apple five business days to respond to her order, released...

High frequency trading of stocks, using computer driven quantitative models, processing large orders are increasing at a rate faster than regulators can monitor. So are the risks, say the head of one of the largest high frequency trading companies, Mark Gorton, head of Tower Research Capital. Gorton and others are concerned with the lack...

In November of this year, the Justice Department agreed to a $13 billion settlement with JP Morgan Chase. According to the government's press release, the settlement includes a statement of facts in which J.P. Morgan acknowledged that it repeatedly told investors the mortgage loans in securities complied with underwriting guidelines, when bank employees knew...

Dark pools, the term coined for private exchanges for trading securities not accessible by the investing public. They are also known as "dark pools of liquidity," for their complete lack of transparency. A recent creation, they were created to facilitate block trading by institutional investors, who want to hide their large orders. Dark pools...

The New York Times reports that a a grand jury that was investigating allegations of misconduct against Planned Parenthood has instead indicted two anti-abortion activists who made videos of the organization. The Harris County district attorney,in Texas Devon Anderson, said the director of the Center for Medical Progress, David Daleiden,...

William Ricardo Alvarez - Marietta, Ga. Offense: Conspiracy to possess with intent to distribute heroin ; conspiracy to import heroin (District of Puerto Rico) Sentence:ΠTime served after nine months' imprisonment, four years' supervised release (Apr. 30, 1997; amended Jul. 31, 1997) Charlie Lee Davis, Jr. - Wetumpka, Ala. Offense: Possession...

Defense contractor L-3 Communications, through its subsidiary EOTech, knowingly produced flawed gun sights for service members and law enforcement. The company will pay $25.6 million to settle the government's fraud suit. Interestingly, although L-3 and EOTech's President Paul Mangano admitted they knew...