LexisNexis® Legal Newsroom
Thomas O. Gorman
SEC Sanctions Advisers For Not Disclosing Shift in Investment Strategy

The SEC brought another enforcement action predicated on the failure of the firm to comply with its operating documents. In this instance the advisers to a fund failed to inform investors that it effectively changed the investment strategy by altering...

Thomas O. Gorman
This Week In Securities Litigation (Week ending October 16, 2015)

The SEC prevailed on two summary judgment motions. One centered on a manipulation action. The other was against an attorney who facilitated a prime bank fraud. The Commission also filed: An action against UBS tied to its failure to disclose certain...

David N. Feldman
FINRA Requires BrokerCheck Link on Websites

The Financial Industry Regulatory Authority (FINRA) regulates US broker-dealers, a “self-regulatory organization” run by the brokers themselves and overseen by the SEC. A very popular online resource is called BrokerCheck, which lets you pretty...

Thomas O. Gorman
Broken Windows: SEC Files Six Settled Rule 105 Actions

Broken Windows – the SEC initiative cloned from the NYC Police Department which prosecutes every case large and small based on the a deterrence theory – is alive and well in the form of the Rule 105 Initiative. This week the Commission announced...

Thomas O. Gorman
UBS Settles Structured Note Case with SEC

The Commission brought its first case tied to inadequate disclosure regarding structured notes. The complex instruments, a debt security linked to a derivative tied to the performance of other products, are frequently marketed to relatively unsophisticated...

Thomas O. Gorman
SEC Wins Summary Judgment in Two Fraud Actions

The SEC prevailed on summary judgment motions in two fraud actions. One is a pump-and-dump manipulation scheme. The other is a prime bank fraud. First, SEC v. Farmer, Civil Action No. 4:14-cv-02345 (S.D. Tx. Filed August 14, 2014) is an action against...