This is for all main blog posts.
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
Last month the director of the Securities and Exchange Commission’s (“SEC’s”) Division of Investment Management, Norm Champ, spoke to the Practicing Law Institute’s Private Equity Forum regarding an upcoming national sweep of alternative mutual funds. It is expected that the … Read More
Last week the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued new guidance on proxy voting in the form of a Legal Bulletin (the “Bulletin”) containing, thirteen (13) frequently asked questions. The guidance reiterates the importance of an … Read More
Thomas Meade (“Meade”), the Chief Compliance Officer (“CCO”) of Denver- based Private Capital Management, Inc. (“PCM, Inc.”), is facing charges stemming from his lack of proper supervision and failure to prevent, detect or respond to an internal insider trading scheme … Read More
The Financial Industry Regulatory Authority (“FINRA”) has pressed charges against Merrill Lynch in a case of excessive mutual fund sales charges to certain small business and charity client accounts. A payout of $32 million – including an $8 million fine … Read More
Each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (“RMU”), authored by one of our staff members on a current “hot topic” in the securities industry. In late May 2014, Core Compliance’s Lead Managing … Read More
On May 19, 2014, the Financial Industry Regulatory Authority’s (“FINRA’s”) Chairman and CEO Rick Ketchum made his opening remarks to the assembly of financial professionals at FINRA’s Annual Conference in Washington D.C. The centerpiece of Ketchum’s speech was “restoring trust … Read More