The Law of the Financial Markets from Top Securities Lawyers
Friday, September 20, 2024
Commentary, news and links of interest to financial advisers.
The SEC has proposed cybersecurity risk management rules for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. “Cyber risk relates to each part of the SEC’s three-part mission, and in particular to […]
SEC enforcement investigations cover a wide range of targets and witnesses, from the big investment banks and their employees, to public companies to private companies who are soliciting investments, small companies. The SEC conducts its investigations privately, and does so by requesting voluntary cooperation or issuing subpoenas for documents and […]
A robo-adviser is an automated investment tool that uses mathematical algorithms to evaluate the prospects of various investment options and, in theory, choose the best one. Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. A typical robo-advisor collects information from clients […]
The SEC is proposing to amend Form PF for certain SEC-registered advisors to private funds. The amendments will affect the disclosure of the fees and other compensation that are paid to a registered representative of an adviser of a private fund. In this Notice, we refer to the “proposed amendments” […]
The Securities and Exchange Commission today announced three awards totaling more than $40 million to four whistleblowers who provided information and assistance in three separate covered actions. In the first order, the SEC issued an award of… Read the Full Press Release Have a securities law question? Call New York […]
The Securities and Exchange Commission announced today that Wedbush Securities Inc., a California-based broker-dealer, has agreed to pay more than $1.2 million to settle charges arising from the unlawful unregistered distribution of nearly 100 million shares of more than 50 different low-priced microcap companies, and from Wedbush’s failure to file […]
U-5 defamation has been an issue for brokers since I began practicing law, and not much has changed to address the issue – except for U-5 filings to become absolutely privileged in New York. I have had some successes negotiating U-5 language before the U-5 is filed, to stop a […]
The SEC Serves a Subpoena, or FINRA wants an OTR. Now what? By Mark J. Astarita, Esq. Introduction to SEC Subpoenas If you are served with an SEC Subpoena, or just receive a letter or telephone call from the SEC or FINRA 8210 Request, that call or subpoena is a […]
Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA… Read the Full Press Release Have a securities law question? Call Sallah […]
EDGAR—The Electronic Data Gathering, Analysis, and Retrieval system is a database system used by the SEC that requires all public companies and certain individuals to submit required, time-sensitive documents to the U.S. Securities and Exchange Commission. The database is a trove of information regarding public companies, their financials, quarterly filings, […]
