President Trump will nominate Allison Herren Lee, of Colorado, to serve at the SEC. Lee, a Democrat, would fill the seat vacated by Kara Stein, restoring the five-member Commission to full strength.
Joe Mont
Posted inEthics & Culture
Leave it to Trump to show us how not to hire a CCO
The Trump Organization reportedly has a new head of compliance, but was that hire, and whatever process was behind the pick, suitable for such an important position?
Posted inRegulatory Policy
Diamonds not always the FTC’s best friend
The Federal Trade Commission has sent letters to jewelry marketers warning them that some of their advertisements for jewelry made with simulated or laboratory-created diamonds may be in violation of the FTC Act.
Posted inRegulatory Policy
CorpFin addresses filings with ‘competitively harmful’ information
The Securities and Exchange Commission recently adopted new rules that permit registrants to file redacted material contracts without applying for confidential treatment, provided the redacted information is not material and would be competitively harmful if publicly disclosed.
Posted inData Privacy
Facebook’s Zuckerberg supports U.S. version of GDPR
On his own company blog, Facebook CEO Mark Zuckerberg voiced his support for implementing a U.S. version of the European Union’s General Data Protection Regulation.
Posted inBoards & Shareholders
SEC: Amazon can’t exclude biometrics shareholder resolutions
The SEC has decided to allow a shareholder proposal demanding more information on Amazon’s use and sale of facial-recognition technology to proceed to the annual meeting’s proxy materials.
Posted inRegulatory Policy
SEC, U.K. strike post-Brexit cooperation deals
The SEC and the United Kingdom’s Financial Conduct Authority have reaffirmed their commitment to cooperation and information sharing, even after the latter withdraws from the European Union.
Posted inEurope
May loses another Brexit vote; EU calls ‘no-deal’ split ‘likely’
For the third time, the House of Commons has voted against British Prime Minister Theresa May’s Brexit proposal. The tight April deadline for completing a separation deal with the European Union is now looking doubtful, and a “no-deal” split more likely.
Posted inRegulatory Enforcement
HUD charges Facebook with facilitating housing discrimination
The Department of Housing and Urban Development is charging Facebook with violating the Fair Housing Act by “encouraging, enabling, and causing housing discrimination through the company’s advertising platform.”
Posted inBoards & Shareholders
Embattled Wells Fargo CEO steps down
Wells Fargo announced Thursday that Chief Executive Officer and President Timothy Sloan intends to retire, effective June 30. He will step down as CEO, president, and board member effective immediately.