Life With GDPR: Episode 50-The Experian Enforcement Notice Case
Who may be interested: Registered Investment Advisers, Registered Investment Companies, Compliance Staff - Quick Take: The SEC recently announced a number of enforcement actions relating to recordkeeping failures,...more
Who may be interested: Registered Investment Companies. Quick Take: The SEC recently settled charges against two credit rating agencies for alleged violations relating to recordkeeping, disclosure and internal controls....more
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
In this Issue. The Consumer Financial Protection Bureau (CFPB) issued a statement announcing its intention to revisit Trump-era qualified mortgage (QM) final rules; the Biden Administration announced changes to the Small...more
Securities and Exchange Commission Chair Jay Clayton gave opening remarks in connection with the Investor Advisory Committee meeting. The Committee’s meeting agenda includes a discussion of whether and how investors use...more
On March 14, 2018, the Securities and Exchange Commission (SEC) charged a chief information officer (CIO) for a US business division of Equifax with insider trading in advance of Equifax’s September 2017 disclosure of the...more
Insider trading allegations have surfaced at Equifax, a credit rating agency that last week announced a data breach that could potentially affect 143 million consumers in the United States, nearly half of the country’s...more
Late last week, the Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year 2015, reporting a record number of enforcement actions and the highest amount of fines collected by the SEC to...more
A continuing focus of SEC enforcement is compliance by entities with their disclosed procedures. The Commission’s latest action in this regard resulted in the payment of $6 million by a Credit Rating Agency that not only...more
On February 20, 2015, several representatives from the SEC spoke at the Practising Law Institute’s program titled “SEC Speaks in 2015,” including Chair Mary Jo White and Commissioner Louis A. Aguilar. Ms. White provided...more
The SEC has adopted credit rating agency rules for Nationally Recognized Statistical Rating Organizations (NRSROs), which include requirements relating to NRSROs’ internal controls. The Dodd-Frank Act requires NRSROs to...more
At an open meeting this morning, the SEC adopted, by a vote of three to two, rule amendments and new rules to implement provisions of Dodd-Frank applicable to credit rating agencies registered as nationally recognized...more