The Securities and Exchange Commission (“Commission”) is proposing amendments to the electronic recordkeeping requirements for broker-dealers, security-based swap dealers (“SBSDs”), and major security-based swap participants (“MSBSPs”). DATES: Comments should be received on or before January 3, 2022. View the complete rule proposal https://www.sec.gov/rules/proposed/2021/34-93614.pdf Originally posted at The Securities Law Blog […]
Author: Mark J. Astarita
McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Proposes Rule Amendments to Proxy Rules Governing Proxy Voting Advice
The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy voting advice. The proposed amendments aim to address concerns expressed by investors and others that the current rules may impede and impair the… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Slams Almost All Robo-Advisors With Deficiency Letters
SEC Slams Almost All Robo-Advisors With Deficiency Letters: Examiners gave particular attention to whether or not robo-advisors were upholding their fiduciary duty. Originally posted at The Securities Law Blog Visit the Web’s top securities law site – SEClaw.com. Online since 1995, updated daily.
SEC Charges Partner at Global Consulting Firm With Insider Trading
The Securities and Exchange Commission today charged Puneet Dikshit, a partner at a global management consulting firm, with illegally trading in advance of a corporate acquisition by one of the firm’s clients in September. The SEC’s complaint, filed in… Read the Full Press Release Have a securities law question? Call […]
Awards Totaling More Than $15 Million to Two Whistleblowers
The Securities and Exchange Commission today announced awards of more than $12.5 million and $2.5 million to two whistleblowers whose information and assistance led to a successful SEC enforcement action. The first whistleblower alerted Commission staff to a fraudulent scheme and prompted the opening of an investigation. The second whistleblower’s […]
Entrepreneurship in Rural and Under-Resourced Areas on Agenda for Small Business Capital Formation Advisory Committee Meeting
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its virtual meeting on Tuesday, Nov. 16, when it plans to explore ways to foster entrepreneurship and capital access in… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
UBS YES Losses?
Investors who lost money in UBS’ Yield Enhancement Strategy (YES) may be able to recover their losses
Robinhood Security Breach Exposes Data on Millions of Users
According to Bloomberg, the intruder obtained email addresses of about 5 million people as well as full names for a separate group of about 2 million, Robinhood said Monday in a statement. For some customers, even more personal data was exposed, including names, birth dates and ZIP codes of about 310 people, […]
SEC Appoints New Chairperson and Board Members to the Public Company Accounting Oversight Board
The Securities and Exchange Commission today announced the appointments of Erica Y. Williams as Chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the Public Company Accounting Oversight Board (PCAOB). Duane… Read the Full Press Release Have a securities law question? Call Sallah […]
