Introduction SEC Investigations, and ultimately SEC enforcement proceedings, can be disruptive and devastating events for individuals and corporations. Hiring an experienced securities defense attorney is crucial. Understanding what to expect during the SEC investigation will also help you achieve your desired result. We are former SEC Staff Attorneys, and Broker-Dealer […]
Enforcement
SEC Announces Cyber and Emerging Technologies Unit to Protect Retail Investors
The Securities and Exchange Commission today announced the creation of the Cyber and Emerging Technologies Unit (CETU) to focus on combatting cyber-related misconduct and to protect retail investors from bad actors in the emerging technologies space. The… SEC Press Release
Converting Accounts to Advisory Accounts Might Violate the IAA
Mark Astarita – Moving clients from a fee based account to an advisory account can cause some problems if not handled properly. This case underscores the fact that regulatory authorities continue emphasizing the importance of transparency, proper disclosures, and prioritizing clients’ best interests in financial advisory services. Investment professionals must […]
Exemption From the Requirement to Report Certain Personally Identifiable Information to the Consolidated Audit Trail
The Securities and Exchange Commission today provided an exemption from the requirement to report certain personally identifiable information (PII) – names, addresses, and years of birth – to the Consolidated Audit Trail (CAT) for natural persons. … SEC Press Release
Exemption From Exchange Act Rule 13f-2 and Related Form SHO
Temporary Exemption from SEC Rule 13f-2 Compliance The Securities and Exchange Commission (SEC) has announced a temporary exemption from compliance with Rule 13f-2 under the Securities Exchange Act and Form SHO reporting requirements. Due to this exemption, institutional investment managers meeting specific thresholds must now submit their initial Form SHO […]
Acting Chairman Mark T. Uyeda Names Natalia Díez Riggin as Senior Advisor and Acting Director of Legislative and Intergovernmental Affairs
The Securities and Exchange Commission today announced Acting Chairman Mark T. Uyeda has named Natalia Díez Riggin as Senior Advisor and Acting Director of the Office of Legislative and Intergovernmental Affairs. “I’m thrilled that Natalia has… SEC Press Release
SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations
The Securities and Exchange Commission’s Office of Credit Ratings (OCR) today published its annual Staff Report on Nationally Recognized Statistical Rating Organizations (NRSROs) summarizing the findings of the NRSRO examinations and discussing… SEC Press Release
Advisers Settle SEC Charges for Acting as Unregistered Brokers
SEC Takes Action Against VCP Financial and Investment Advisers for Regulatory Violations Investment Advisers Caught Selling Pre-IPO Investments Without Proper Registration The SEC has announced settled charges against three investment adviser representatives—Tamir Shabat, Danny Z. Spiegel, and Joseph J. Orlando, Jr.—for operating as unregistered brokers while selling membership interests in […]
SEC Monitoring Impact of California Wildfires on Capital Markets
The Securities and Exchange Commission is closely monitoring the impact of the California wildfires on investors and capital markets. The SEC divisions and offices that oversee companies, accountants, investment advisers, mutual funds, brokerage firms,… SEC Press Release
SEC Announces Departure of General Counsel Megan Barbero
The Securities and Exchange Commission today announced that Megan Barbero, who has served as General Counsel since February 2023, will leave the agency on Jan. 20, 2025. Ms. Barbero joined the SEC in July 2021 as Principal Deputy General Counsel. “I… SEC Press Release