The SEC has, for many years, used broker-dealer and associated persons’ failure to create and maintain books and records as a basis for the imposition of serious penalties. In recent actions, it appears to be continuing—and...more
1/11/2022
/ Accounting ,
Auditors ,
Broker-Dealer ,
CFTC ,
Compliance ,
Derivatives ,
Enforcement Actions ,
Futures ,
Hedge Funds ,
Insider Trading ,
Investment Adviser ,
Policies and Procedures ,
Private Equity ,
Publicly-Traded Companies ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
On July 13, 2021, the SEC announced charges against Stable Road Acquisition Company (“Stable Road”), its sponsor, SRC-NI, its CEO, Brian Kabot, Stable Road’s proposed merger target Momentus Inc.(“Momentus”), and Momentus’s...more
7/16/2021
/ Audits ,
CEOs ,
Enforcement ,
Initial Public Offering (IPO) ,
Investment Adviser ,
Investors ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Special Purpose Acquisition Companies (SPACs)
Upcoming Changes to Rule 10b5-1:
The SEC is seeking to propose four key changes to executive stock trading plans under Rule 10b5-1 in October. Its Chairman, Gary Gensler, reported that the SEC is considering “freshen[ing]...more
7/2/2021
/ 10b5-1 Plans ,
Broker-Dealer ,
Compliance ,
EDGAR ,
Gary Gensler ,
Insider Trading ,
Investment Adviser ,
Market Manipulation ,
Proposed Amendments ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Trading Plans
As publicly reported late last week, the Securities and Exchange Commission’s Division of Enforcement (SEC) sent voluntary requests for information to a range of public companies and investment firms seeking voluntary...more
6/24/2021
/ Audits ,
Broker-Dealer ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Investment Adviser ,
Popular ,
Publicly-Traded Companies ,
Request For Information ,
Securities and Exchange Commission (SEC) ,
SolarWinds ,
Voluntary Disclosure
On Friday June 4, 2021, Securities and Exchange Commission Chair Gary Gensler removed the head of the Public Company Accounting Oversight Board (PCAOB), an independent agency created by the Sarbanes-Oxley Act of 2002 that is...more
Alex Oh, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s pick for the agency’s Director of the Division of Enforcement, unexpectedly resigned on Wednesday amid growing criticism for her decades-long work as...more
5/3/2021
/ Administrative Resignation ,
Auditors ,
Broker-Dealer ,
Compliance ,
Derivatives ,
Enforcement ,
Futures ,
Gary Gensler ,
Hedge Funds ,
Insider Trading ,
Investment Adviser ,
Private Equity ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Supervision
As political leaders continue to debate how to address climate change, the SEC is poised to take (enforcement) action. In the latest example of how the Biden Administration is influencing the priorities the SEC, the agency...more
On January 18, 2021, the incoming President’s Transition Team announced additional key administration post nominees, including Mr. Gary Gensler as SEC Chair. The announcement specifically provided the following regarding Mr....more
1/20/2021
/ Administrative Proceedings ,
Biden Administration ,
Broker-Dealer ,
Compliance ,
Hedge Funds ,
Insider Trading ,
Investment Adviser ,
New Legislation ,
Private Equity ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Supervision