SEC Releases

SEC Releases an FAQ on COVID-19 Efforts

The FAQ that the SEC released encompasses their efforts and their impacts for firms and funds due to COVID-19. The questions are to their responses on the pandemic that affect Investment Advisors, Broker-Dealers, and Private Funds. This is important to make sure that you are up to date and understand clearly where these changes will […]

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OCIE to Complete Inspections for Compliance with Regulation Best Interest and Form CRS

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released risk alerts regarding examinations for compliance with Regulation Best Interest (“Reg-BI”) and Form CRS. These risk alerts will provide Broker-Dealers and Registered Investment Advisors (“RIAs”) with more information to understand the scope of the initial exams. The compliance date for Regulation Best Interest and Form […]

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SEC Office of Compliance Inspections and Examinations Publishes Observations on Cybersecurity

The SEC’s Office of Compliance Inspections and Examinations (OCIE) today issued examination observations related to cybersecurity and operational resiliency practices taken by market participants. The topics addressed in the observations include: Governance and Risk Management Access rights and Controls Data Loss Prevention Mobile Security Incident Response and Resiliency Vendor Management Training and Awareness If you’d like to read the […]

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SEC Office of Compliance Inspections and Examinations Announces 2020 Examination Priorities

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2020 examination priorities. OCIE publishes its examination priorities annually to enhance the transparency of its examination program and to provide insights into its risk-based approach, including the areas it believes present potential risks to investors and the integrity of the U.S. […]

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Former Congressman and Two Others Settle Insider Trading Charges

The Securities and Exchange Commission announced today settlements with former U.S. Rep. Christopher Collins, his son Cameron Collins, and Stephen Zarsky, all of whom were charged with insider trading and pleaded guilty to related criminal charges. The…

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Jefferies to Pay Nearly $4 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that broker-dealer Jefferies LLC will pay nearly $4 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).  

ADRs are U.S. securities that…

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SEC Obtains Touting and Fraud Judgment Against Colorado Cannabis Stock

A Colorado stock promoter and two of his companies agreed to pay $4.2 million to settle the U.S. Securities and Exchange Commission’s charges for fraudulently promoting and trading a cannabis stock. On Dec. 5, 2019, the U.S. District…

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SEC Charges Multinational Telecommunications Company With FCPA Violations

The Securities and Exchange Commission today announced that Sweden-based Telefonaktiebolaget LM Ericsson was charged with engaging in a large-scale bribery scheme involving the use of sham consultants to secretly funnel money to government officials in…

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SEC Proposes to Modernize Regulation of the Use of Derivatives by Registered Funds and Business Development Companies

The Securities and Exchange Commission has voted to propose a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds, and closed-end funds, as well as business development companies.   “Funds frequently use derivatives to gain exposure to certain asset classes more efficiently and […]

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SEC Charges Trucking Executives With Accounting Fraud

The Securities and Exchange Commission today charged two former top executives of Indiana-based trucking company Celadon Group Inc. for their participation in an accounting fraud that inflated the company’s income and earnings per share.…

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SEC Releases Report on 38th Annual Small Business Forum

The Securities and Exchange Commission today released a report on the 38th Annual Government-Business Forum on Small Business Capital Formation.  The Forum is a unique event attended by SEC Commissioners and staff in which members of the public and…

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SEC Charges Iconix Brand Group and Former Top Executives With Accounting Fraud

The Securities and Exchange Commission today charged brand-management company Iconix Brand Group Inc. and three of its former top executives with fraud. Iconix and two of its former executives have agreed to settle. The SEC’s litigation is…

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