News & Analysis as of September 25, 2024

Securities Exchange Act › Pay-To-Play

+ Follow

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Exempt Reporting Advisers Faced Significantly More SEC Enforcements in 2022

Goodwin on 1/27/2023

The Securities and Exchange Commission (SEC) brought an unusually high number of enforcement actions against exempt reporting advisers in 2022 — that appears to be more than the prior three years combined and a record number...more

Dismissal of Putative Securities Class Action for Bellus Health, Inc.

Goodwin on 10/10/2022

On September 21, 2022, U.S. District Judge George B. Daniels of the Southern District of New York dismissed with prejudice a putative securities class action against BELLUS Health, Inc. and certain of its officers....more

Former Mayor Charged by SEC and DOJ with Securities Fraud and Pay-to-Play Scheme

Bracewell LLP on 12/6/2017

On December 1, 2017, the U.S. Securities and Exchange Commission (“SEC”) filed a complaint in the U.S. District Court for the Northern District of Illinois charging David Webb, Jr. (“Webb”), mayor of Markham, Illinois from...more

Pay-to-Play – SEC Expands Scope of Rule to CABs

Proskauer - The Capital Commitment on 10/13/2017

The SEC’s pay-to-play rule has given advisers reason to worry about potential foot faults since its adoption. As we have noted in prior posts, the rule is filled with landmines and is therefore difficult to navigate. As was...more

SEC & MSRB’s Pay-to-Play Rule: “Governing Games - Mocking, Part 2”

Burr & Forman on 8/2/2016

This SRO gamesmanship is making a mockery of governing. The latest is the SEC’s position that it didn’t take any action on the new MSRB Rules extending pay-to-play prohibitions to municipal advisors, so it can’t be sued...more

"FINRA Extends Deadline for SEC to Act on Proposed FINRA Pay-to-Play Rule"

Skadden, Arps, Slate, Meagher & Flom LLP on 7/1/2016

On June 21, 2016, the Financial Industry Regulatory Authority extended the time for the Securities and Exchange Commission (SEC) to act on Proposed Rules 2030 and 4580 (the Proposed Rules) to August 26, 2016. The Proposed...more

"SEC Extends Comment Period on Proposed FINRA Pay-to-Play Rule "

Skadden, Arps, Slate, Meagher & Flom LLP on 4/18/2016

On March 29, 2016, the Securities and Exchange Commission (SEC) filed an order instituting proceedings (the Order) intended to determine whether to approve or disapprove Financial Industry Regulatory Authority (FINRA)...more

Goldman Sachs Pays First-Of-Its-Kind Settlement to Close Pay to Play Action with the SEC by Grant Nichols

King & Spalding on 2/4/2013

On September 27, 2012, Goldman Sachs agreed to pay $12 million to settle claims with the Securities and Exchange Commission (“SEC”) alleging that one of its employees engaged in a pay-to-play scheme. The scheme, as described...more

8 Results

View per page

Page: of 1

Securities Exchange Act › Pay-To-Play

"My best business intelligence, in one easy email…"