The Securities and Exchange Commission today announced settled cease-and-desist proceedings against broker-dealer Citigroup Global Markets Inc. (CGMI) for willfully violating recordkeeping requirements concerning expenses that the firm incurred in… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544. Sallah Astarita & Cox, […]
Month: September 2023
Disgorgement Accounting After Liu v. SEC in Securities Enforcement Cases
From the Harvard Law School Forum on Corporate Governance – The Supreme Court’s landmark Liu v. SEC ruling curtails the SEC’s discretion in disgorgement remedies, limiting awards to a defendant’s “net profits” from wrongdoing. This shifts billions in settlement negotiations. But how should securities lawyers calculate these “net profits” in […]
SEC Directs Equity Exchanges and FINRA to Improve Governance of Market Data Plans
The Securities and Exchange Commission today issued an order directing the equity exchanges and the Financial Industry Regulatory Authority (FINRA) (the participants) to file a new national market system plan (NMS plan) to replace the three existing… Read the Full Press Release Have a securities law question? Call New York […]
SEC Directs Equity Exchanges and FINRA to Improve Governance of Market Data Plans
The Securities and Exchange Commission today issued an order directing the equity exchanges and the Financial Industry Regulatory Authority (FINRA) (the participants) to file a new national market system plan (NMS plan) to replace the three existing… Read the Full Press Release Have a securities law question? Call New York […]
