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Securities News

Arts Patron Is Convicted of Securities Fraud (New York Times)
A federal jury in New York convicted Alberto W. Vilar of all 12 counts in his securities fraud trial on Wednesday, a final fall from grace for a man who gave millions of dollars to musical and other causes but was ostracized for falling short on his pledges, The New York Times's Daniel J. Wakin reports.

Commercial mortgage securities latest to show distress (Market Watch)
Risk premiums on commercial mortgage-backed securities have spiked in the past week, making this corner of the debt market the latest to show signs of mounting distress.

Committee considers two securities division bills (Deseret Morning News)
Two similar bills reforming the Utah Division of Securities came before a legislative committee on Wednesday, but committee members let it be known they want to tackle only one.

Hornbeck Offshore files to sell $500M securities (AP via Yahoo! Finance)
Hornbeck Offshore Services Inc., which provides supply vessels to the energy industry, said Wednesday it filed with the Securities and Exchange Commission to sell up to $500 million worth of common and preferred stock, debt securities or warrants from time to time.

Commerce to buy back $545M in auction rate securities (BizJournals)
Commerce Brokerage Services Inc., an affiliate of Commerce Bank, has agreed to buy $545 million of auction rate securities from 140 investors, according to a settlement announced Wednesday with Missouri Secretary of State Robin Carnahan.



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