Who knew they still had it in them? Forty-three years after Winston Churchill passed from the scene and at least 15 years since the Rolling Stones put out a respectable single, the Brits are back at the helm of world leadership! First, Prime Minister Gordon Brown proposes to combat the credit crisis by direct government […]
Matt Kelly
Posted inFrom the Archive
Compliance Week 2009 Gets Rolling
As many of you already know, Compliance Week hosts its annual reader conference every June. We strive to provide a comprehensive look at all things related to compliance and corporate governance, which isn’t exactly easy. (You try fitting financial reporting, risk management, internal auditing, and SEC enforcement into a two-day agenda sometime. And that’s only […]
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More Who-Gets-Screwed Bailout News
Behind every spectacular corporate meltdown, there’s an auditing firm sweating bullets. Little surprise, then, that when the entire financial sector melts down, all four of the Big 4 auditing firms start to sweat. Each one has (or had) at least several clients in the financial sector that have recently been forced into acquisition, government oversight, […]
Posted inTechnology
Editorial: Experienced XBRL Filers Offer Tips, Recommendations, and Pitfalls to Avoid
Good judgment comes from experience. Unfortunately, as the writer and Emmy-nominated screenwriter Rita Mae Brown once noted, experience often comes from bad judgment. That comic yet tortuous circle of knowledge has actually played a role in Compliance Week’s conference strategy. For the last six years, we’ve tried to create events that offer experience without Brown’s […]
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Catching Up on the Bailout
Good lord—I leave the country unsupervised for a few weeks, and this is what happens? I’m just back from two weeks of wandering through China, where we heard vague rumors that Wall Street had somehow fallen into the East River and Hank Paulson attempted a coup d’etat. Neither of those sounded like particularly bad ideas, […]
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SOX For Institutional Investors? Disclosures Under Oath
Compliance Week Editor-in-Chief Matt Kelly is in China. This blog posted by Compliance Week Publisher Scott Cohen: Regulatory developments in the financial services sector are coming fast and furious, but one caused us to raise our eyebrows. On Monday, the SEC expanded its investigation of potential market manipulation, noting that hedge fund managers, broker-dealers, and […]
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And Here Come the Lawsuits
Compliance Week Editor-in-Chief Matt Kelly is in China. This blog posted by Compliance Week Publisher Scott Cohen: As expected, it hasn’t taken the plaintiffs bar long to leap down the throats of companies involved in the current financial meltdown. Merrill Lynch, for example, is being sued for grabbing onto the lifeboat that is Bank of […]
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Naked Short Selling Banned at All Public Companies
Compliance Week Editor-in-Chief Matt Kelly is in China. This blog posted by Compliance Week Publisher Scott Cohen: Perfectly timed with my blog from yesterday accusing the SEC of inaction in the financial crisis, the Commission has banned “naked” short selling of the securities of all public companies, effective 12:01 a.m. Thursday, Sept. 18. The move […]
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When the World Is Running Down, Where Is the SEC?
Compliance Week Editor-in-Chief Matt Kelly is in China. This blog posted by Compliance Week Publisher Scott Cohen: What happened to the SEC Executive Order that included tighter rules on shorting 19 financial services stocks? The financial markets continue to deteriorate, and naked short selling–not to mention rumor mongering–are rampant, yet the SEC has done virtually […]
Posted inFrom the Archive
SEC Still Pursuing Disgorgement, D&O Bars
Compliance Week Editor-in-Chief Matt Kelly is in China. This entry posted by Compliance Week Publisher Scott Cohen: If there was any doubt that that the Commission is serious about disgorging profits from executives charged with fraud, one need only look to the latest settlement with former KB Home CEO Bruce Karatz. Karatz, whose company was […]