Both the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced the agreement by the Dutch company, Snamprogetti Netherlands BV, (Snamprogetti) to pay a $240 million criminal penalty to the DOJ to resolve charges related...
by Melissa Beck
Rule 15c3-5 is a new rule that
will effectively prohibit broker-dealers with market access from providing
customers with unfiltered access to an exchange or alternative trading system
On November 3, 2010...
At Wednesday's Open Meeting the Securities and Exchange Commission took up the discussion of their proposed rules on pay-to-play for investment advisers. The proposal is a new Rule 206 (4)-5 under the Investment Advisers Act. The Commission voted...
Dodd-Frank added Exchange Act Section
21F(g)(5) and requires that SEC's Office of the Whistleblower to report to Congress
annually on the whistleblower program. It's due each October 30. I'm sure the
SEC wanted to be in compliance, so they...
Office of Compliance Inspections and Examinations ("OCIE") mission is to
protect investors through its nationwide examination and inspection program. Examiners
in Washington DC and in the SEC's 11 regional offices conduct...
The SEC examined all 10 firms registered Nationally
Recognized Statistical Rating Organization (.pdf 23 pages) and found all 10
had "apparent failures". The SEC has requested remediation plans from each of
the agencies within 30 days and...
The SEC's Division of Corporation Finance issued some guidance with the staff's observations in its reviews of "super" Forms 8-K filed following reverse mergers. As we know, in 2005 the SEC adopted a rule requiring the filing within...
We recently wrote about gifts and entertainment under the Foreign Corrupt Practices Act (FCPA). To view the prior article, click here . This week the Securities and Exchange Commission (SEC) announced an enforcement action involving Veraz Networks. The...
Capital Hill continued to debate
market reform this week with the introduction of the Volker Rule bill in the
Senate. SEC enforcement focused on resolving financial fraud and Ponzi scheme
cases, while the appellate section at FINRA reversed a panel...
by Nicholas S. Hodge and Kenneth G. Juster
Introduction "The Financial Industry Regulatory Authority ('FINRA') announced on November 29, 2010 that the Securities and Exchange Commission (the 'SEC') had approved new FINRA Rule 5131...
As part of the SEC's new National
Exam Program Overview , OCIE highlights six areas of focus for Investment
"[T]he Program has identified specific strategic areas on
which to focus when examining firms.... In FY2012, focus areas...
On July 11, 2011, the President issued Executive
Order 13579 , "Regulation and Independent Regulatory Agencies," which states
that independent regulatory agencies should promote the goals set forth in Executive
Order 13563 of January 18,...
The SEC partially prevailed in a proceeding brought
against the Securities Investor Protection Corporation or SIPC. The Court
agreed with the Commission that the appropriate manner in which to seek an
order compelling SIPC to file an application for...
When corporations selectively disseminate material non-public information to one group prior to making it publically available is a violation of Regulation FD, the selective disclosure unfairly disadvantages the investing public. When a corporate executive...
The Securities and Exchange Commission charged an Illinois-based investment adviser with offering to sell fictitious securities on LinkedIn. The SEC also issued two alerts to highlight the risks investors and advisory firms face when using social media...