Massachusetts, Montana Sue SEC Over JOBS Act
The states are unhappy with the capital-raising provisions, known as Regulation A+, which bar them from regulating some small offerings.
Deutsche Bank Hit With $55M SEC Fine for Misstating Financial Reports
During the financial crisis, “Deutsche Bank’s financial statements did not reflect the significant risk” in large, complex illiquid derivative positions, says SEC's Ceresney.
Andy Friedman: One Big Date That Could Shake Markets, Tax Code
Four political "forcing events" are coming to a head around a single date, Andy Friedman of The Washington Update says.
SEC, FINRA Enforcement: BHP Billiton to Pay $25M Over Olympics Invites
Meanwhile, FINRA has censured and fined EDI Financial Inc. for failing to have supervisory procedures in place for sales of private placements.
Dodd-Frank Rollback Bill Advances in Senate
The Senate Banking Committee passed on a sharp party-line vote Thursday the Financial Regulatory Improvement Act. Democrats including Sen. Warren blasted the bill.
SEC Charges Atlanta Advisor With Defrauding Police, Firefighter Pension Plans
Firm breached its fiduciary duty by selling unsuitable investments to pension funds for the city’s police, firefighters and transit workers, the SEC says.
Perfect Insider Traders Got Caught
If there's one thing that insider traders like almost as much as playing golf, it's failing to recognize their own fathers' names in FINRA inquiries.
Bank Overseer Lawsky to Depart, After Making New York $6B Richer
Benjamin Lawsky will step down next month as New York’s top bank regulator. He plans to set up a cybersecurity consulting firm.
On Wall Street, if You Earn More You Cheat More, Study Finds
More than a third of the highest paid financial professionals have firsthand knowledge of wrongdoing, and many say compensation plans incentivize lawbreaking, the study found.
SEC Wants Big Form ADV Changes
The SEC has approved a plan to require advisors to provide more data on separately managed accounts, branch offices and social media on Form ADV.