Options Trading Risk Alert Released by SEC to Avert Evasions of Short-Sale Rule
The Securities and Exchange Commission (SEC)‘s Office of Compliance Inspections and Examinations (OCIE) recently published a Risk Alert that aims to combat market abuses that elude an SEC short-sale rule for options trading. The Alert, issued in the first week … Read More
SEC Passes New Broker-Dealer Amendments for Financial Responsibility
In last week’s Compliance blog posting, we discussed a series of new rules announced by the Securities and Exchange Commission (SEC) on July 31, 2013, that brought changes to compliance reporting requirements for broker-dealers (BDs). For this week, we will … Read More
SEC Passes New Broker-Dealer Rules for Compliance Reporting Requirements
On July 31, 2013, the world of broker-dealers (BDs) was taken on by the Securities and Exchange Commission (SEC) with the passage of a new rule and a set of new amendments affecting this financial sphere. While each of these … Read More
SEC Desires to Hire Examiners, But Need for Many More is Greater
The Securities and Exchange Commission (SEC) is seeking greater institutional funding to be used towards staffing more examiners for investment advisers, but according to an industry source, the agency needs many more positions than they estimate to increase its reach. … Read More
SEC Recommends New Rules for Reforming Money Market Funds
In an open meeting held on June 5th by the Securities and Exchange Commission (SEC), the SEC’s Chair, Mary Jo White, proposed a series of rules aiming to provide meaningful reform to the functional operations of money market funds. In … Read More
Congress Introduces Bill for SEC Fees on Investment Advisers
A bill for the Securities and Exchange Commission (SEC) to allow the Commission to collect fees from investment advisers for funding of examinations has been recently re-introduced in Congress by Representatives Maxine Waters of California and John Delaney of Maryland. … Read More
Chief of SEC Enforcement Speaks About the Concerns and Initiatives of Private Fund Advisers
In a recent speech at the Private Equity International Conference in New York, Bruce Karpati, Chief of the Securities and Exchange Commission’s (“SEC”) Enforcement Division’s Asset Management Unit, addressed private equity enforcement concerns. While the SEC has not traditionally brought … Read More
Broker Dealers Will Soon Be Required To Search For Lost Securityholders
On December 21, 2012, the Securities and Exchange Commission (“SEC”) unanimously approved a Draft Final Rule requiring broker-dealers to conduct searches for holders of securities with whom they have lost contact. A similar rule already applies to recordkeeping transfer agents, … Read More
Upcoming U.S. Supreme Court Hearing on Statute of Limitations to Have Broad Ramifications
The U.S. Supreme Court recently decided to take up the case of SEC vs. Marc Gabelli and Bruce Alpert. At issue, in this case, is whether the SEC’s five-year statute of limitations to bring civil enforcement actions (cases where the … Read More