SEC: Private Equity, We’re Watching You
The Securities and Exchange Commission has begun an “informal inquiry" into the private equity industry. The SEC’s goal is reportedly to collect data to look into possible securities law violations.The...
View ArticleObama and Wall Street: An S&M Relationship?
Although Obama continues to beat up Wall Street, hiking taxes and increasing regulatory budgets in his 2013 budge proposal, Wall Street CEOs aren't ready for a breakup yet.The post Obama and Wall...
View ArticleThe best of the SEC hits
Securities and Exchange Commission officials spoke at the annual Practicing Law Institute and revealed their enforcement hit list and other initiatives. An agency that has been the subject of...
View ArticleIs Wall Street Pulling a Fast One?
When members of the House Financial Services Committee grilled Mary Jo White, the head of the Securities and Exchange Commission (SEC), all they wanted to talk about was a book: Michael Lewis’s Flash...
View ArticleDark Pools Take Larger Share of Trades Amid SEC Scrutiny
The rise of off-exchange trading in the U.S. stock market continues unabated even as regulators question the wisdom of allowing the shift to continue. Shares changing hands in private venues such as...
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SEC Is Steering More Trials to Judges It Appoints
The Securities and Exchange Commission is increasingly steering cases to hearings in front of the agency’s appointed administrative judges, who found in its favor in every verdict for the 12 months...
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SEC settles with Rengan Rajaratnam
The Securities and Exchange Commission announced on Thursday that former hedge fund manager Rajarengan ‘Rengan’ Rajaratnam has agreed to pay more than $840,000 and accept securities industry bars in...
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SEC Commissioner Says We’re Wasting Money Trying To Protect Millionaires
Right now the SEC is examining possible changes to the accredited investor definition. SEC chairwoman Mary Jo White wants to make sure that the SEC is properly identifying the investors who fit that...
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Compliance Officers in the SEC’s Crosshairs
Compliance officers are in the Securities and Exchange Commission’s crosshairs. The SEC’s Director of Enforcement, Andrew Ceresney, said in a keynote speech during the Compliance Week 2014 conference,...
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With Bank of America Order, S.E.C. Breaks the Mold
The recidivism rate among companies caught violating securities laws can be a bit disheartening. Despite settlements that include corporate proclamations of a commitment to compliance, the same names...
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GOP to Warren: That Dodd-Frank Rollback Was Just the Appetizer
Representative Kevin Yoder, who spearheaded this week’s changes to the Dodd-Frank financial law’s regulation of swaps transactions, has a message for Senator Elizabeth Warren: expect more pro-business...
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Ex-broker must pay $768,000 for scheme to profit from terminally ill
A New York broker who participated in a scheme to profit from the death of terminally ill patients through variable annuity sales must return $768,000 in commissions, a U.S. Securities and Exchange...
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Pattern of Disobedience at Direct Edge Spurs Record Fine
The record fine recently slapped on two U.S. stock exchanges was the result of a history of failing to meet regulators’ demands, according to people familiar with the matter. In January, the Securities...
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She Runs S.E.C. He’s a Lawyer. Recusals and Headaches Ensue.
Their legal careers, and by extension their marriage, are the stuff of lore. Mary Jo White leads the Securities and Exchange Commission; her husband, John, practices law at an old-guard firm as elite...
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U.S. Commissioner Calls For More Rigorous Review of Risky ETFs
A top member of a U.S. securities regulator on Monday called for a more transparent and rigorous review process before approving rule changes to list riskier exchange-traded funds that she believes...
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SEC’s Head of Compliance, Andrew Bowden, to Leave
A top Securities and Exchange Commission official who made headlines for criticizing the private-equity industry last year is planning to leave the commission. The SEC announced Tuesday that Andrew...
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SEC Backlog Delays Whistleblower Awards
As part of its popular whistleblower program, the Securities and Exchange Commission promises to move swiftly on useful information about potential wrongdoing. But the agency isn’t as speedy when it...
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SEC urged to beef up FINRA oversight: GAO
The Securities and Exchange Commission needs to tighten its procedures for overseeing the Financial Industry Regulatory Authority, the Government Accountability Office said Thursday. In its report,...
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Choosing the Battlefield in S.E.C. Cases
Lawyers are often accused of elevating procedure over substance, emphasizing the need to follow the rules over reaching the proper outcome in a case. In dealing with the Securities and Exchange...
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SEC Probes Activist Funds Over Whether They Secretly Acted in Concert
The Securities and Exchange Commission is investigating whether some activist investors teamed up to target companies without disclosing their alliances, potentially in violation of federal...
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