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
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
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
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
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
In an SEC investigation, Kenneth F. Wrangell was contacted by SEC Investigators regarding his suspicious trading activities regarding Mercer Insurance Group, to which Wrangell offered his full and expedient cooperation. His cooperation resulted in the SEC obtaining details of his … Read More
On Friday, August 17, 2012, it was reported that, in response to heavy criticism, the SEC would backtrack on its earlier plans to issue an interim rule lifting the ban on general solicitation and advertising of public offerings required by … Read More
While examining a mutual fund that Peak Wealth Opportunities LLC advised, SEC examiners requested David W. Dube and Peak Wealth produce certain records to the SEC. Mr. Dube owns Peak Capital and its subsidiary businesses. Mr. Dube serves as the … Read More
U.S. Senators Chuck Grassley (R-IA), ranking member of the Senate Judiciary Committee, and Jack Reed (D-RI), chairman of the Senate Banking Subcommittee on Securities, Insurance and Investment, will introduce legislation intended to increase the SEC fines for securities violations. Currently, … Read More