In September 2022, the SEC and CFTC fined some of the largest financial services firms in the world approximately $1.8 billion for texting. Specifically, for failing to maintain or preserve “off-channel communications” on...more
The Securities and Exchange Commission (SEC) recently announced its intention to avoid “neither admit nor deny” settlements in some cases and instead return to an Obama-era policy requiring more individuals and companies to...more
On August 30, the Securities and Exchange Commission (SEC) announced settled charges with several investment advisory firms and broker-dealers following email account takeovers. These settlements are the latest in a string of...more
SEC Tells Firms to Stop Missing the Basics on Cybersecurity -
The SEC’s Office of Compliance Inspections and Examinations (OCIE) reported in a recent Risk Alert that many investment advisers and broker-dealers are failing to...more
7/19/2019
/ Broker-Dealer ,
Cybersecurity ,
Data Integrity ,
Data Protection ,
Investment Adviser ,
Notice Requirements ,
OCIE ,
Policies and Procedures ,
Popular ,
Privacy Notice Rule ,
Regulation S-P ,
Regulatory Oversight ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The U.S. Supreme Court recently held that someone doesn’t need to have “made” a false or misleading statement to have primary liability under the securities fraud rules.
...more
7/15/2019
/ Appeals ,
Enforcement Actions ,
False Statements ,
Fines ,
Intent to Defraud ,
Investment Banks ,
Life Insurance ,
Lorenzo v SEC ,
Material Dissemination ,
Misleading Statements ,
Reaffirmation ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Suspensions