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.
SEC, FINRA Enforcement Roundup: Bristol-Myers Squibb Exec Charged
There was an international flavor to some of the recent actions taken by the SEC and FINRA, including freezing $38 million in assets in an international insider trading case and charges involving a Chinese reverse merger company.
The Penalty Box: Would Stiffer SEC Fines Make Evildoers Think Twice?
An upcoming bill would raise the penalties the SEC can impose on financial ne'er-do-wells. Maybe Congress’ time would be better spent increasing the likelihood that the SEC will catch anyone—by, oh, I don’t know, maybe increasing their funding?
Exclusive: Biggest SEC Enforcement Effort Is Advisor Misconduct
In exclusive interview, former SEC enforcement official Kaplan says agency had doubled actions against advisors to investment vehicles, especially private funds, with more scrutiny to come.
SEC Enforcement Roundup: Former SEC Official Barred for Ties to Stanford
Conflict of interest charges against a former SEC official and charges of deceiving investors against a Miami-based hedge fund advisor were among the enforcement actions taken recently by the SEC.
Risk-Based Oversight of Investment Advisors
Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
The Need for Thorough and Effective Policies and Procedures
Whethere an advisor is SEC or state-registered, RIAs must revise their policies and procedures to address significant compliance problems occurring during the year, changes in business arrangements, and regulatory developments.
Agency and Principal Transactions
In passing Section 206(3) of the Investment Advisers Act, Congress recognized that principal and agency transactions can be harmful to clients. Such transactions create the opportunity for RIAs to engage in self-dealing.
Regulatory Oversight of Investment Advisors
Although the regulatory environment is in a state of flux, it is imperative that RIAs adhere to their compliance obligations. To ensure compliance, RIAs and IARs must fully understand what those obligations are.
SEC Charges Three Advisors With Compliance Violations
The SEC on Monday charged three investment advisors for failing to put in place compliance procedures designed to prevent securities law violations.