SEC
Get the latest news and insights on the Securities and Exchange Commission's' financial regulations (such as Regulation Best Interest), enforcement actions and related activities.
SEC Brings Up Charges on Life Partners Holdings
By Elizabeth D. FestaThe SEC alleges that Life Partners Holdings Inc., in conjunction with Dr. Donald T. Cassidy, purposefully underestimated the life expectancies of policyholders in what may be a punishing episode for the secondary market's larger reputation.
December 29, 2011
SEC Goes After Deutsche TelekomThe Securities and Exchange Commission sued Deutsche Telekom and its Hungarian telecommunications unit Magyar Telekom in federal court in Manhattan on Wednesday, alleging violations of the Foreign Corrupt Practices Act, which prohibits paying bribes to foreign officials. Three former officials of Magyar were also charged in a separate filing with...
December 28, 2011
New Year, New Fiduciary Rule?While SEC Chairman Mary Schapiro said in mid-December comments first reported on Bloomberg that the agency would issue a proposed fiduciary rule this year, she also stated in the Bloomberg interview that a fiduciary rule proposal will be business model neutral and allow brokers working with retail investors to sell...
December 28, 2011
Corzine, Madoff and ‘Good’ AdvisorsI felt bad for Jon Corzine as he took his (subpoenaed) seat at a House Agriculture Committee hearing on Dec. 8.
December 28, 2011
SEC Wins Delay in Citigroup CaseThe Securities and Exchange Commission on Tuesday was granted a two-week delay in its securities fraud case against Citigroup as it seeks to have a judge's decision to toss its settlement with the bank reversed.
December 23, 2011
Another Judge Challenges SEC SettlementMilwaukee Judge Randas objections are reminiscent of Judge Rakoffs criticisms of the SECs settlement with Citigroup. Indeed, Randa cited Rakoff in his filing.
December 22, 2011
4 Key Areas SEC Examiners Will Scrutinize in 2012: GiachettiClient privacy, branch supervision and money manager due diligence top Tom Giachetti's compliance list. And make sure your CCO has real power and knowledge.
December 22, 2011
SEC Redefines ‘Accredited Investors’ Under Dodd-FrankValue of primary residence wont count toward net worth calculation required to invest in Reg D securities.