SEC Files Rare Subpoena Enforcement Action Over Failure to Testify
The SEC is understandably loath to file subpoena enforcement actions. Such actions are basically a waste of time and resources, and involve getting a court to order people to do what they are already required to do. Sometimes, however, the SEC has no choice but to wield the "stick" of ...
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SEC wants Jay-Z to testify about clothing brand deal
The SEC has filed a subpoena and asked a federal court in the Southern District of New York to order rapper Jay-Z to testify over the acquisition of his Rocawear clothing line by Iconix Brand Group, a $169 million writedown of the brand in 2016, and a reported loss of ...
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News BriefJudge reinstates fired CPSC commissioners in latest battle over government cuts
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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PremiumUK’s Failure to Prevent Fraud law may expose firms to unlimited fines and prosecution, says Moody’s compliance risk expert
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.