This week, the CFTC approved a NFA Interpretative Notice that prohibits a Member from accepting credit card payments from customers to fund retail forex accounts. The NFA recently reviewed how
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Who Wants To Know About Enhanced FINRA Discipline
A recent study by the Sutherland Asbill law firm revealed that FINRA brought 4% more disciplinary cases in 2012 as compared to 2011. In doing so, FINRA jacked up its
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NFA Modifies Rule Prohibiting Commodity Pool Loans
In September 2009, the NFA adopted Rule 2-45, which prohibits CPOs from making any direct or indirect loans or advances of pool assets to the CPO or any affiliated person
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You May Be Better Off Telling the SEC Before Making Corporate Announcements
The SEC is actively encouraging companies to contact the SEC before making a public announcement.
The SEC has indicated that it has its Staff reviewing Form 8-K disclosures. These reviews
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Has the Pre-Sox Era Returned?
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
There is No Escape from Whistleblowers Overseas
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
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
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
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
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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