It is almost axiomatic that the SEC “enjoys” bringing enforcement actions against lawyers. The SEC believes that lawyers have a special duty to protect and police the securities markets, and,
Continue Reading SEC Still Has Lawyers in its Cross-Hairs
Despite numerous warnings, some people just do not get it. The SEC barred a broker from the industry because the broker used personal email and text messages to obtain client
Continue Reading Brokers Have To Be Reminded To Avoid Using Personal Emails and Texts
The CFTC announced today that it had a record enforcement year. The CFTC filed 102 enforcement actions in its fiscal year ended September 30, 2012, which is up slightly from
Continue Reading CFTC’s Record Enforcement Year And Record Budget Request
Chairman Schapiro recently announced several technology enhancement initiatives that are designed to improve the SEC’s enforcement efforts and business practices. These initiatives were certainly designed to enhance the SEC’s ability
Continue Reading The SEC Has New Toys, Big Brother Is Watching
FINRA recently commented on its enforcement actions and fines over 2011. If anything, the statistics show that broker-dealers are on notice of two things: (1) FINRA is aggressively pursuing enforcement actions
Continue Reading FINRA Enforcement and Fines Are Up — Now What
Recently, the SEC amended its rules to create a separate Office of Ethics Counsel. The Ethics Counsel will now report directly to the Commission’s Chairman.
This organizational change is important
In a letter to certain senators, SEC Chairman Mary Schapiro has requested new statutory power to enhance the SEC’s Enforcement program’s effectiveness. In particular, the SEC is seeking statutory upgrades
Continue Reading You Knew It Was Coming SEC Looks to Enhance Its Enforcement Program
The SEC adopted a rule requiring hedge fund and private equity fund advisors to report systemic risk data. The new Form PF was jointly developed by the SEC and the
Continue Reading SEC Adopts Form PF so that Private Funds May Report Systemic Risk
An independent public interest group has asked the SEC’s Inspector General to investigate press reports that Staff members are using private e-mails to conduct agency matters to avoid oversight by
Continue Reading SEC Staff’s Use of Private E-Mails Growing Concern