The SEC’s Office of the Whistleblower’s top priority going into 2016 will be to assess company confidentiality agreements for compliance with Rule 21-F-17(a). Rule 21F-17(a) provides that no person may take any action to impede an individual from reporting information about wrongdoing to the SEC. The OWB’s primary focus in enforcing Rule 21-F-17(a) has been to discourage companies… Continue Reading
Earlier this week, the Securities and Exchange Commission agreed to settle charges with a company related to prevention and detection of potential insider trading. The SEC alleged that the company failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse of material, nonpublic information, and that the company… Continue Reading
Earlier this week, the New York Stock Exchange halted trading for nearly four hours due to a technical “glitch”. While the shutdown caused a lot of uncertainty among investors and ruffled some feathers on Wall Street, there are some important takeaways for securities practitioners. This was a reminder of the importance of data security. The… Continue Reading
I recently blogged about the meaning of the “E” in email. For a further discussion of the dangers associated with email, you can listen to this podcast. The moral to the story is think long and hard before you hit that send button. Enjoy!
The Department of Labor delivered on a longstanding but controversial promise when it recently proposed a fiduciary duty rule for all brokers who work with retirement accounts. The primary purpose of the proposed rule is avoidance of conflicts of interest. If the proposed rule becomes final in its current form, it will have the following… Continue Reading
SEC Chair Mary Jo White recently announced a broad program to get high frequency trading under control. Under the plan, entities that engaged in high frequency trading will have to register with the SEC. The rationale for this new plan is to promote greater transparency in the markets. The SEC’s agenda could ultimately impact the… Continue Reading
We want to congratulate our outstanding IP partners, Gerry Norton and Janet MacLeod, on being named “Life Sciences Stars” by LMG Life Sciences 2013. See http://emarketing.foxrothschild.com/rs/vm.ashx?ct=24F7661EDEE20AEDC1D089A5D1289611D4BE7BB3D38714DD4CF371647BF8D90DDD78031
As the host of IMPACT 2013 Venture Summit, Fox invites you or your clients in the technology, healthcare or early stage sectors to be a featured company during the Mid-Atlantic’s premiere venture capital conference. Featured companies receive the exclusive opportunity to deliver a 10-minute presentation to prominent investors. Past featured companies include The Neat Company,… Continue Reading
The head of Fox Rothschild’s IP practice and our partner, Gerry Norton, was recently quoted by NJBiz on the U.S. Supreme Court’s Myriad Genetics Inc. case. See http://www.njbiz.com/article/20130416/NJBIZ01/130419842/Genetics-case-has-huge-implications-for-NJ-biotech-industry. Gerry’s great analogy is priceless.
Fox Rothschild is proud to be the host sponsor of IMPACT 2013 Venture Summit – the most established venture summit in the Northeast. This year’s conference will be held October 22 and 23 at the Ritz-Carlton, Philadelphia and Crystal Tea Room. As the premiere event of the Philadelphia Alliance for Capital and Technologies (PACT), IMPACT… Continue Reading
No matter what you do to protect yourself, there are risks all around. Over the years that I have defended brokers, I have found that one of the greatest liability risk is the way in which brokers have managed their elderly clients. With the Baby Boomers advancing in age, brokers are bound to have a… Continue Reading
The SEC found out what it means to sit on its rights when the United State Supreme Court recently concluded that the SEC was untimely in its effort to seek civil penalties. The Supreme Court in Gabelli v. Securities and Exchange Commission ruled that the five year clock in which the SEC had to bring… Continue Reading
In two recent posts, I highlighted the problems with incomplete account opening documents and those signed in blank. Now that you know the problem, the important question to ask is how do you prevent the problem in the first place. A robust supervision program and a culture of compliance are a start, but not the… Continue Reading
In the category of shameless, self promotion, we just wanted to share with you that The Compliance Exchange has named Ernest Badway as someone “Who Compliance Professionals Should Follow On Twitter in 2013.” http://compliancex.com/twitter-list/
Please join us in congratulating partner Jeffrey M. Pollock who was recently elected to The American Law Institute (ALI) – a nonprofit, independent organization dedicated to producing scholarly work that clarifies, modernizes and improves the law. New members are elected by current members and selected on a number of criteria, including high character and ability… Continue Reading
To our loyal followers, The ABA is compiling its list of top blogs. We wanted to make you aware of the link, and hope you will consider us when responding. Here is the link: http://www.abajournal.com/blawgs/blawg100_submit/. The deadline for submission is September 7, 2012. Thanks so much. Securities Compliance Sentinel
In an unshocking move, the SEC decided to delay its Open Meeting on the changes to Rule 506 of Regulation D and Rule 144A required under the JOBS Act (which will allow for general solicitation of securities sold pursuant to those rules) until next week. Notably, in the notice announcing next week’s meeting, they changed… Continue Reading
Yes, this blog is quite different than what you are used to reading, but it is a Friday in August so please take it in that vein. Here goes. Undoubtedly, many know the securities industry loves to use statistics. Statistics are used for everything, including, among other things, to make predictions. However, the securities industry is not alone in using statistics to predict… Continue Reading
Our colleagues, including our partner, Wendy Rothstein, have just started a new PA trial blog. We recommend it to everyone:http://patrialpractice.foxrothschild.com/.
If you look around Philadelphia, you can see signs of a vibrant, growing city. Neighborhoods long lost to urban decay and lost manufacturing jobs are finding new life as homes to the growing creative class of artists and entrepreneurs. Philadelphia is in the nascent stages of a renaissance. New businesses are created every day, and growing… Continue Reading
We wanted to let everyone know about Fox’s new FDA, Pharma and Health Care Fraud Blog!!! http://pharmahealthcarefraud.foxrothschild.com/. Our partners, David Restaino and Shahnam Sharareh, are the editors. Great job, David and Shahnam, and enjoy!!
I did another interview with LXBN TV this afternoon. In some ways, it went better than the first. Instead of an opening shot where I look like I’m trying to find the fastest escape route out of the imminent stammer-fest, now I just look really, really sad, like someone just yelled at a puppy. And instead… Continue Reading
Last week, the CFTC issued a final rule on the data recordkeeping and reporting requirements for historical swaps. Historical swaps are swaps executed prior to the passage of the Dodd-Frank Act and swaps entered into between the enactment of the act and applicable compliance date for recordkeeping. For swaps in existence on or after April 25,… Continue Reading
Well, that didn’t take long. It’s only been five days (and only three trading days) since Facebook’s IPO, but lawsuits and investigations are already underway. So much for the honeymoon (literally). This NY Times piece does a good job explaining some of the reasons why Facebook’s IPO has gone awry. The Massachusetts secretary of state… Continue Reading