Over the last several years, Congress and industry insiders have discussed whether it is time to merge the SEC and CFTC. After some high-profile regulatory lapses by both agencies, Congressional
U.S. Securities and Exchange Commission (SEC)
Christian Moffitt’s Take on SEC v. Cuban
We all hope you enjoy this blog from our colleague, Christian Moffit.
The SEC has lived to fight another day in its case against Mark Cuban over his sale of…
Continue Reading Christian Moffitt’s Take on SEC v. Cuban
Auditors Are Subject to SEC Action
We have repeatedly stated that auditors are significant players in today’s securities industry. No other than the SEC has made this point on numerous occasions. Recently, the SEC brought this
RIAs Need to Be Worried About Showing Hypotheticals and Models
RIAs are certainly in the cross-hairs of the SEC. The SEC recently sanctioned a RIA for misrepresenting its use of performance models that were actually hypotheticals relating to backtested performance.
Continue Reading RIAs Need to Be Worried About Showing Hypotheticals and Models
The SEC Believes a Bar Only Relates to the Future Not the Past, Yeah Right!!
As many know, the Dodd-Frank Act confirmed the SEC’s power to seek and/or impose certain penalties and remedies. A recent case against a hedge fund manager, In the Matter of …
Continue Reading The SEC Believes a Bar Only Relates to the Future Not the Past, Yeah Right!!
Can The SEC And Department Of Labor Live With One Fiduciary Duty
The Department of Labor’s head of the Employee Benefits Security Administration recently announced that the DOL is going to coordinate with the SEC on fiduciary policy, but that the DOL…
Continue Reading Can The SEC And Department Of Labor Live With One Fiduciary Duty
SEC Commissioner Comes Out Against Retrospective Collateral Bars
Recently, SEC Commissioner Daniel Gallagher stated that he was not in favor of allowing the Commission to retroactively impose a collateral bar.
Although there certain administrative proceedings have looked into…
Continue Reading SEC Commissioner Comes Out Against Retrospective Collateral Bars
Auditors Beware!!! SEC Is on the Prowl
The SEC Enforcement Division’s chief accountant has gone on record as saying that, in every SEC accounting case, the SEC Staff reviews auditor conduct.
The chief accountant stated that the SEC Staff…
Chinese Firm Feels SEC’s Wrath
In its continuing enforcement onslaught on firms emanating from China, the SEC filed another action in the United States District Court for the Western District of Louisiana against a Chinese…
The War on Naked Shorting Continues
Just a few short weeks ago, the SEC launched an administrative action against an on-line futures and options brokerage and clearing agency, as well as its senior executive for engaging…