PRESS DIGEST - Wall Street Journal - April 23
April 23 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* CBOE Holdings Inc, the parent of the Chicago Board Options Exchange, is considering whether to separate its regulatory division after an ongoing federal probe over potential conflicts of interest.()
* S&P asked a judge to throw out the Justice Department's lawsuit against the company, deepening the battle over who bears responsibility for billions of dollars in losses suffered by investors during the financial crisis. ()
* The Securities and Exchange Commission (SEC) picked two former federal prosecutors to share the job of enforcement chief for the first time in the agency's 79 year history.
Mary Jo White, the SEC's new chairman, said one of her former lieutenants, Andrew Ceresney of law firm Debevoise & Plimpton LLP, will join acting SEC enforcement chief George Canellos as co-director of the more-than-1,200-employee division. ()
* For nearly five years, Ralph Lauren Corp employees plied Argentine customs officials with dresses, perfume and cash to accelerate the passage of merchandise into the South American country, according to U.S. authorities, who said the company will pay $1.6 million to resolve related investigations.
* Wal-Mart Stores plans to base some executive compensation this year on whether the retailer successfully overhauls its compliance operations, a process it began last year amid a prove of bribery allegations in Mexico.
* Sprint Nextel said its board has formed a special committee to evaluate a $25.5 billion acquisition offer from Dish Network Corp. ()
* Bowing to regulators' concerns about the size of executive pay, seven large U.S. financial services firms are scaling back the maximum bonuses awarded to executives who beat their performance targets.
Financial services firms, including PNC Financial Services Group, Capital One Financial Corp and Discover Financial Services Inc said they are scaling back the maximum bonuses awarded to executives who beat their performance targets, according to regulatory filings.
BB&T Corp, KeyCorp, U.S. Bancorp and SunTrust Banks Inc are the other U.S. firms that cut their maximum performance-based bonuses recently, according to a study set to be released as early as Tuesday by pay-consulting firm Compensation Advisory Partners. ()