The Importance of Effective Trade Surveillance
On August 19, 2015, The Securities and Exchange Commission “SEC” announced that Citigroup Global Markets (“Citigroup”) has agreed to settle charges that it failed to enforce policies and procedures to prevent and detect securities transactions that could involve the misuse … Read More
Are you Performing Due Diligence?
On July 30, 2015 Curian Capital (“Curian”), an SEC registered asset management firm, surprised the industry by posting a notice on their website stating they will no longer accept any new business and will only continue to manage existing … Read More
2016 Core Compliance Annual Compliance Symposium: Sponsor Line Up
Take part in a one-day educational event that will cover some of the most important compliance topics of today!
Purported Adviser in San Diego Charged with Stealing From Clients
Last week, the Securities and Exchange Commission (“SEC”) charged a “purported adviser in San Diego with stealing money from clients for personal use” and running a Ponzi scheme. The Southern California firm, Coast Capital Management (“Coast Capital”), owned by Paul … Read More
Inaccurate Trade Data Costs Firm $4.25 Million
On July 14, 2015, the Securities and Exchange Commission (“SEC”) brought an enforcement action against OZ Management LP (“OZ”), an SEC-registered investment adviser for giving inaccurate trade information to certain broker-dealers. The SEC’s final order, which was issued upon OZ’s … Read More
Anti-Money Laundering Programs: Is Your Broker-Dealer Complying?
Over the past year, there has been an increased focus on Broker-Dealer Anti-Money Laundering (“AML”) programs. Last month, Kevin Goodman, National Associate Director of the Broker-Dealer Examination Program in the Office of Compliance Inspections and Examinations (“OCIE”), spoke at the … Read More
Masqueraded Lies Cost Small Businesses More Than $4 million
False promises and masqueraded lies cost a handful of small businesses more than $4 million. According to a recent Securities & Exchange Commission (“SEC”) press release, Nicholas Lattanzio, a New Jersey resident has been accused of “posing as a hedge … Read More