On October 15 The Securities and Exchange Commission (“SEC”) reported enforcement against a former Wells Fargo Advisors’ (“Wells Fargo”) compliance officer. Purportedly, Judy K. Wolf altered a document before submitting it to the SEC during an investigation. The SEC’s order … Read More
On October 24, The Securities and Exchange Commission (“SEC”) sanctioned a south-Florida auditing firm for violating federal laws and regulations requiring lead audit partners to periodically rotate off their audit engagements with a publicly-traded company in order to preserve the … Read More
On September 23, 2014, the Securities and Exchange Commission (“SEC”) charged Barclays Capital Inc. (“Barclays”), a global banking services firm, with “failing to maintain an adequate internal compliance system.” After acquiring Lehman Brothers, a financial services firm that filed for … Read More
The U.S. Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy recently released Investor Alert: Investment Newsletters Used as Tool for Fraud to assist investors in avoiding cleverly disguised schemes in investment newsletters. Promoting stocks without disclosing compensations … Read More
The Securities and Exchange Commission (“SEC”) recently created the Office of the Investor Advocate “to ensure that the concerns of investors are appropriately considered as decisions are being made and policies are being adopted at the Commission, at self-regulatory organizations, … Read More
A San Diego-based investment firm and two of the firm’s advisers have been charged with misusing soft dollars and “cherry-picking” more favorable trades to certain clients. Securities and Exchange Commission (“SEC”) Administrative Law Judge Brenda P. Murray ruled that the … Read More
Luis A. Aguilar, a Commissioner of the Securities and Exchange Commission (“SEC”), spoke at the New York Stock Exchange’s Governance Services department “Cyber Risks and the Boardroom” Conference on June 10, 2014. Aguilar spoke regarding the increasing risks associated with … Read More
The Municipal Securities Rulemaking Board (“MSRB”) launched a new tool this past June that assists investors in determining the price of a municipal bond. The new price discovery tool can be accessed via the Electronic Municipal Market Access (“EMMA”) website. … Read More
This week Financial Industry Regulatory Authority’s (“FINRA’s”) Rule 2081 (“the Rule”) was approved by the Securities and Exchange Commission (“SEC”). The Rule will prohibit the expungement of customer complaints, due to agreed-upon settlements with customers, through the Central Registration Depository … Read More
