Poll Results: As SEC’s Schapiro Steps Down, Advisors Speak Up
Our AdvisorOne survey found some sentiment for Sallie Krawcheck, but gave regulators overall poor marks for protecting consumers and providing a level playing field.
Vow to Fight SEC Charges From Ex-Morgan Keegan Fund Directors
Eight former independent directors, who were charged by the SEC with overstating the value of their securities as the housing market was collapsing in 2007, say they will “vigorously” contest the charges.
SEC, FINRA Enforcement Roundup: Insider Trading Ring Busted; Raymond James Hit
Among recent actions taken by the SEC and FINRA were the breakup of an insider trading ring; Raymond James getting fined and censured; and proceedings over securities law violations by the Big Four accounting firms' China affiliates.
U.S. Charges SAC Capital Unit in $276 Million Insider Trading Scheme
The SEC, in its largest insider trading case ever, and the Department of Justice charged hedge fund advisory firm CR Intrinsic Investors, which is a unit of SAC Capital, its former portfolio manager and a medical consultant with insider trading.
J.P. Morgan, Credit Suisse to Pay Combined $400 Million Settlement for RMBS Violations
The SEC alleges that J.P. Morgan misstated information about the delinquency status of mortgage loans that provided collateral for an RMBS offering in which it was the underwriter, while Credit Suisse similarly failed to accurately disclose its practice of retaining cash for itself from the settlement of claims against mortgage...
SEC Socks MassMutual With $1.6 Million VA Penalty
The SEC on Thursday charged Massachusetts Mutual Life Insurance Co. with securities law violations for failing to sufficiently disclose the potential negative impact of a “cap” it placed on a complex investment product that investors were planning to use for retirement.
SEC, DOJ Release Foreign Corrupt Practices Act Guide
The Securities and Exchange Commission and the Department of Justice released Wednesday A Resource Guide to the U.S. Foreign Corrupt Practices Act, a 120-page guide providing a detailed analysis of the U.S. Foreign Corrupt Practices Act and closely examines the SEC and DOJ approach to FCPA enforcement.
Bruce Bent Cleared in SEC Fraud Charges
Bruce Bent, founder of the first money market fund, was cleared of fraud charges Monday after the SEC alleged that he deceived investors leading up to the Primary Reserve Fund “breaking the buck.”
SEC Names Calamari Head of New York Regional Office
The office has responsibility for more than 4,000 investment banks, investment advisors, broker-dealers, mutual funds and hedge funds.
SEC Charges Four Brokers With Overcharging Customers $18.7 Million
The SEC charged four brokers who formerly worked on the cash desk at a New York-based BD with using hidden markups and markdowns and secretly keeping portions of profitable customer trades.