Summary -
The Securities and Exchange Commission (SEC) is reportedly nearing a settlement with a nationally recognized statistical rating organization (NRSRO) over its failure to preserve certain credit-ratings...more
Summary -
Two more broker-dealers became the latest financial institutions to settle with the SEC for failing to maintain and preserve electronic communications. What distinguishes these settlements from the 17 prior...more
Second Post in a Two-Part Series -
Opinion Stresses Importance of Narrative Sections and Supporting Documentation for SARs -
In our first post in this series, we discussed the Securities and Exchange Commission’s...more
12/26/2018
/ Broker-Dealer ,
Enforcement Actions ,
Failure-to-File ,
Filing Requirements ,
Financial Services Industry ,
Market Manipulation ,
Money Laundering ,
Penny Stocks ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Suspicious Activity Reports (SARs)
First Post in a Two-Part Series -
On December 11, Judge Denise Cote of the Southern District of New York granted, in part, the Securities and Exchange Commission’s (“SEC”) motion for summary judgement in its action against...more
12/21/2018
/ Bank Secrecy Act ,
Books & Records ,
Broker-Dealer ,
Clearing Agents ,
Enforcement Actions ,
Enforcement Authority ,
Financial Services Industry ,
First Impression ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Stock Trades ,
Suspicious Activity Reports (SARs)
On June 5, the SEC filed suit against Salt Lake City-based Alpine Securities, Corp. (“Alpine”). The complaint, filed in the Southern District of New York, alleges that the broker-dealer ran afoul of AML rules by “routinely...more