Unauthorized Access Cybersecurity is essentially a regime to prevent unauthorized access. Authorized users are authenticated most commonly via a username and password. However, requiring just a password with a username for access is considered a weak protection control. Weak because … Read More
On October 22, 2015, the Securities and Exchange Commission (“SEC”) released information on the enforcement cases they’ve brought during their 2015 fiscal year, which ended on September 30, 2015. The results as compared to 2014, including an additional 52 cases … Read More
In every walk of life, manual functions are being automated and securities compliance is no exception. This trend will likely continue, and for good reason: automation can create efficiency, improve accuracy and increase capacity. In this update we will address some of … Read More
Majority Opinion of the Commission On October 2, 2015, the Securities and Exchange Commission (“SEC”) issued an Opinion of the Commission in the matter of Raymond J. Lucia Companies, Inc. and Raymond J. Lucia, Sr regarding the backtested performance of … Read More
Recently, the Securities and Exchange Commission (“SEC”) charged Focus Media Holding Limited (“Focus”) and its CEO, Jason Jiang, with surrounding the partial sale of a subsidiary. According to the press release, the China-based company and Jiang” violated an antifraud provision … Read More
Over the last year, cybersecurity has been a top focus for the Securities and Exchange Commission (“SEC”) prompting them to issue various guidance to financial firms in the way of risk alerts and guidance statements, and to investors via investor … Read More
Recently the Securities and Exchange Commission (“SEC”) charged a St. Louis Investment adviser that had experienced a breach of client non-public information with failing to create and implement cybersecurity policies and procedures. According to the SEC’s press release, for over … Read More
On September 2, 2015, a Philadelphia- based investment advisory firm was charged by the Securities and Exchange Commission (“SEC”) with improperly retaining fees from collateralized debt obligation (“CDO”) clients. From 2009 to 2012, Taberna Capital Management (“Taberna”) retained “exchange … Read More
