The Securities and Exchange Commission today announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least one… Read the Full Press Release Have a securities law question? Call […]
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SEC Proposes Updates to Electronic Recordkeeping Requirements
The Securities and Exchange Commission (“Commission”) is proposing amendments to the electronic recordkeeping requirements for broker-dealers, security-based swap dealers (“SBSDs”), and major security-based swap participants (“MSBSPs”). DATES: Comments should be received on or before January 3, 2022. View the complete rule proposal https://www.sec.gov/rules/proposed/2021/34-93614.pdf Originally posted at The Securities Law Blog […]
McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Proposes Rule to Provide Transparency in the Securities Lending Market
The Securities and Exchange Commission today published proposed Exchange Act Rule 10c-1, which would require lenders of securities to provide the material terms of securities lending transactions to a registered national securities association, such as… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Proposes Rule Amendments to Proxy Rules Governing Proxy Voting Advice
The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy voting advice. The proposed amendments aim to address concerns expressed by investors and others that the current rules may impede and impair the… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Slams Almost All Robo-Advisors With Deficiency Letters
SEC Slams Almost All Robo-Advisors With Deficiency Letters: Examiners gave particular attention to whether or not robo-advisors were upholding their fiduciary duty. Originally posted at The Securities Law Blog Visit the Web’s top securities law site – SEClaw.com. Online since 1995, updated daily.
SEC Charges Partner at Global Consulting Firm With Insider Trading
The Securities and Exchange Commission today charged Puneet Dikshit, a partner at a global management consulting firm, with illegally trading in advance of a corporate acquisition by one of the firm’s clients in September. The SEC’s complaint, filed in… Read the Full Press Release Have a securities law question? Call […]
Entrepreneurship in Rural and Under-Resourced Areas on Agenda for Small Business Capital Formation Advisory Committee Meeting
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its virtual meeting on Tuesday, Nov. 16, when it plans to explore ways to foster entrepreneurship and capital access in… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
SEC Appoints New Chairperson and Board Members to the Public Company Accounting Oversight Board
The Securities and Exchange Commission today announced the appointments of Erica Y. Williams as Chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the Public Company Accounting Oversight Board (PCAOB). Duane… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures
The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
