Analysis of cutting-edge securities industry issues
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
In a recent letter from SEC Enforcement Director, Robert Khuzami, to United States Senator Charles Grassley, the SEC for the first time said that the destroyed documents did not have…
Continue Reading To Avoid Criticism SEC Now Claims Destroyed Records Had No Effect On Probes
Approximately 2 years ago, the SEC implemented a new e-mail security protocol for its communications regarding non-public investigations, among other things.
This system required defense counsel to fill out a…
Continue Reading SEC’s Cryptic E-mail System Causes Grief for Defense Bar
Recently, UBS announced that it had terminated a former trader, who was also arrested by British police. Apparently, this rogue trader cost UBS over to $2.25 billion. UBS was in…
A recent report issued by Lisa Swan, formerly of the New York Daily News, noted that the financial industry still has not paid back $19 billion to the government. The $19…
Continue Reading A New Perspective on TARP: Seems like a Mixed Bag for the taxpayers
Ernest Badway will be speaking at a Citrin Cooperman event on October 27, 2011, on the topic of Advisors and Fund Managers. Please contact Alyssa Parrilla, 212.697.1000 Ext. 1838, aparrilla@citrincooperman.com…
Continue Reading Ernest Badway to Speak at Citrin Cooperman RIA and Fund Manager Event
The Second Circuit Court of Appeals has ruled that the Financial Industry Regulatory Authority (“FINRA”) cannot seek to enforce a monetary fine through a judgment with the court. What does…
