Auditors engaging in non-audit consulting? A major accounting firm pushing for more consulting work? Recently, the SEC’s chief accountant indicated that there were concerns at the SEC regarding auditor independence
U.S. Commodity Futures Trading Commission (CFTC)
There is No Escape from Whistleblowers Overseas
By Fox Rothschild on
Alas, the Dodd-Frank whistleblower protections cover informants overseas.
The United States Court of Appeals for the Fifth Circuit, recently, held that the Dodd-Frank whistleblower protections cover informants that report to the…
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SEC Agrees with NRSROs Upgrades
By Fox Rothschild on
The SEC has given a pretty good report card regarding its examinations of nationally recognized statistical rating organizations, stating there was only one mistake. This “clean bill of health” comes…
SEC Has Offered Help for Sandy’s Victims
By Fox Rothschild on
The SEC granted filing extensions and other regulatory relief for the entities effected by Hurricane Sandy.
Previously, the SEC extended several deadlines, and allowed certain exemptive forms to be used. However…
Law Firms Cannot Ignore Clients Who May Be Engaged in Ponzi Schemes
By Fox Rothschild on
Regulators seem to believe that lawyers and their law firms act like ostriches when it comes to their clients and Ponzi schemes. For example, a law firm paid $25 million…
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You May Be Able to Receive In Kind Payments Without SEC Action
By Fox Rothschild on
The SEC’s Division of Trading and Markets staff, recently, agreed to not recommend enforcement action, pursuant to Securities Exchange Act of 1934 Section 11(d) (1), if a broker-dealer receives payments in-kind…
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“Burger King” May Not Allow You to Have it Your Way. . . Is the Two-Tier M&A Deal Ending?
By Fox Rothschild on
A popular two-tier merger and acquisition structure may trigger certain prohibitions under the Securities Exchange Act of 1934. In particular, this problem relates to the so-called “Burger King” structure, arising from the private equity…
You Can’t Be a Bad Actor Before the SEC Has Crowdfunding Rules
By Fox Rothschild on
The SEC’s Division of Corporation Finance will consider a bar on so-called “bad actors” from private offerings before announcing rules on crowdfunding under the JOBS Act. However, we anticipate there will…
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You Can Blow the Whistle too According to the SEC
By Fox Rothschild on
The SEC’s Division of Enforcement is performing well according to its departing director.
The soon to be ex-Enforcement Director credits this strength to his re-organization of the Division based on…
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Whistleling While You Work Seems to Be Helping the SEC
By Fox Rothschild on
The SEC’s Whistleblower Office received 3,001 tips last year, involving a number of different areas and from all over the United States and the world.
The SEC views the program as…
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