Analysis of cutting-edge securities industry issues
FINRA’s membership application program (“MAP”) is changing. FINRA’s review of initial membership and continuing membership applications for broker-dealers will now be centralized in the MAP.
Further, as part of MAP…
Continue Reading FINRA Is Centralizing Its Membership Application Program
Gail Collins weighed in on the JOBS Act today in a column glibly titled “The Senate Overachieves”. Normally, I love her work – everything she does is glib…
At the recent American Bar Association gathering, the SEC’s and the Department of Justice’s recent activities regarding insider trading were heavily discussed.
During this conference, defense attorneys on the panel…
Continue Reading SEC’s and DOJ’s Approach to Insider Trading and Attempting to Define Parameters
Reuters recently reported that the SEC and FINRA were asking trading firms specific details regarding their trading strategies and/or their secret computer codes.
This new effort by the SEC and…
Continue Reading Joint SEC and FINRA Probe Into Secret Trade Data and Algorithms
In yet another investigation being conducted by the SEC’s Inspector General, the conduct of SEC officials in overseeing the Stanford Receiver has come into question.
Although the Stanford ponzi scheme…
Continue Reading SEC Possibly Blows Stanford Receiver Oversight
Recently, a bipartisan bill was introduced in the United States Senate that would require states to obtain the identity of persons who act behind corporations. Essentially, this legislation would end…
Continue Reading Potential Federal Legislation to Register Behind the Scenes Corporate Principals
Both the SEC and the PCAOB have proposed standards that would amend Exchange Act Rule 17a-5, to require broker-dealers and their auditors to include various schedules and financial reports with…
Continue Reading The SEC’s New Proposed Rule 17a-5 Amendments and Adoption by PCAOB
Recently, the historians at the National Archives have weighed in on the SEC’s disclosure that it had destroyed possibly over 9,000 documents, and they are not happy. As a result…
Continue Reading SEC Destroys Documents and Now the Historians are Mad
Recently, a congressman released draft legislation that would institute comprehensive changes at the SEC. This legislation was dubbed the “SEC Modernization Act.”
This legislation would consolidate several SEC offices including…
Continue Reading Congress Pushing for Operational and Structural SEC Changes
