All articles by Joe Mont – Page 16
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Blog
ITT executives agree to resolution, fines with SEC
The SEC has resolved ongoing accusations against with two former senior executives of ITT Educational Services Inc. The Commission says the company’s leadership hid its true financial condition from investors. The resolution successfully concludes an SEC case against the national operator of for-profit colleges.
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Companies need to do a better job with crisis management
From natural disasters to cyber-security and supply chain disruptions, companies say they are prepared for a crisis, but those boasts often prove hollow when one hits.
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Blog
SEC expands application of scaled disclosures
The SEC has extended its “smaller reporting company” definition to expand the number of companies that qualify for scaled disclosure accommodations.
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SEC adopts changes to liquidity risk management disclosures
The SEC has finalized amendments to liquidity-related disclosure requirements for certain open-end funds. Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity risk management programs.
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California is first state to enact a domestic take on EU data protections
Despite the economic clout of the tech sector, California’s state legislators have passed an extensive slate of data privacy rules that take their cue from the EU’s recently enacted General Data Protection Regulation rules.
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SEC unveils ideas for updating whistleblower program
In an effort to improve its whistleblower program and adapt it to recent Supreme Court demands, the SEC has proposed a slate of amendments to the rules that govern the initiative.
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As immigration issues grow in intensity, companies are swept into the fray
Companies that might otherwise avoid politics and controversy are finding it hard to stay clear of the immigration debate.
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Blog
Wells Fargo settles with SEC over improper sales advice, strategy
An SEC announcement says Wells Fargo Advisors will settle charges that its sales team pushed retail investors to cash out non-liquid investments before their maturity, unnecessarily costing them money but improving the firm’s profits.
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Article
SCOTUS delivers a constitutional blow to SEC’s ALJ process
The perpetually maligned use of administrative law judges at the SEC faces big changes after the Supreme Court, led by Justice Elena Kagan, agreed with constitutional challenges.
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Blog
NY federal judge declares CFPB unconstitutional
With latest volley in ongoing debates over the constitutionality of the CFPB, a federal judge in New York ruled on Thursday that the Bureau’s current structure is unconstitutional.
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Blog
SEC details strategic initiatives through 2020
The SEC has published a new plan that details its strategic priorities through Fiscal Year 2022.On the list: improved technology and data analysis and a focus on retail investors.
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SEC’s Clayton digs into the basics of company culture
SEC Chairman Jay Clayton used a speaking engagement this week to champion the need to establish a firm-wide culture of compliance.
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Big changes may be on the horizon for CRA and Bank Secrecy Act compliance
Testifying in both chambers of Congress last week, Comptroller of the Currency Joseph Otting discussed plans to modernize the Community Reinvestment Act, and streamline requirements under the Bank Secrecy Act.
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Blog
China strikes back on trade tariffs with duties on U.S. products
China has launched a counter-offensive in the escalating trade war initiated by the United States, announcing additional tariffs in response to duties on its imports into the U.S. Covered products include oil, coal, soybeans, and whiskey.
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Blog
White House nominates successor for Mulvaney at CFPB
With Acting Director Mick Mulvaney’s tenure at the Consumer Financial Protection Bureau scheduled to end, by statute, on June 22, the White House has nominated Kathy Kraninger, his subordinate at the Office of Management and Budget, to take over.
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Blog
Dems seek investigation into SEC commissioner's alleged pro-gun diatribe
Democratic senators are asking the SEC's Inspector General to conduct an investigation into reports that a commissioner may have “linked potential regulatory action" to his personal views on firearms.
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Blog
Fed rule targets risk concentrations among big banks
A new rule from the Federal Resere seeks to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability.
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Blog
Trump makes Chinese tariffs official
President Trump has announced the execution of $50 billion in new tariffs on Chinese goods. The U.S. will implement a 25 percent tariff on a wide array of industrial and manufacturing products and parts.
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Article
The compliance challenges of cross-border deals
We recently spoke to Ricardo Garcia-Moreno, a partner with Haynes & Boone, about the opportunities, challenges, and compliance concerns that come with cross-border deals.
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Blog
Judge rejects government efforts to block AT&T, Time Warner deal
After months of legal sniping and a six-week trial, a federal judge has approved AT&T’s $85 billion acquisition of Time Warner.