All SEC articles – Page 56
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ArticleSEC explores possible new rules on auditor independence
SEC Chairman Jay Clayton has instructed staff to follow up on concerns raised in public comments with respect to auditor independence requirements.
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Article
FDIC paves way for rollback of initial swap margin requirements
The move to ditch the requirement that insured depository institutions collect initial margin from affiliates is being praised by regulators for bringing the U.S. into alignment with other countries and freeing up $39.4 billion in collateral.
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ArticleBanks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
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ArticleSEC charges ICOBox for unregistered offering, broker activity
The SEC has filed a lawsuit against cryptocurrency startup ICOBox, a California company in the business of facilitating other companies’ ICOs, and its founder for conducting an illegal securities offering of its digital tokens and for acting as unregistered brokers for other digital asset offerings.
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ArticleCompliance failures lead to $15M penalty for Raymond James
A series of compliance failures have resulted in three Raymond James entities being fined $15 million by the SEC over improper charges of advisory fees and excess commissions.
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ArticleSEC revisiting decades-old bank disclosure guide
The SEC is seeking public comment on proposed updates to statistical disclosures for bank and savings and loan registrants.
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ArticleTwo broker-dealers to pay $4.65M for providing deficient ‘blue sheet data’
Two broker-dealers must pay a combined $4.65 million in penalties for providing incomplete and inaccurate securities trading information to the SEC. Prudent compliance officers might want to take a page from their remedial efforts.
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ArticleLIBOR report suggests steep uphill climb still ahead
Despite warnings to prepare, financial institutions still face a lot of work and uncertainty around the demise of LIBOR, a new assessment suggests.
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ArticleThird Cognizant executive settles FCPA charges
A third former executive at Cognizant has settled charges with the SEC for violating the FCPA by participating in a scheme to bribe an Indian government official.
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ArticlePrudential subsidiaries to pay $33M for misleading disclosures
The SEC has charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised.
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SEC closes FCPA probe into Ciena
Ciena says the SEC advised the company it does not intend to recommend an enforcement action in connection with a previously disclosed investigation into potential violations of the FCPA.
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Article
James Daly retiring from SEC
James Daly, Division of Corporation Finance Associate Director, will retire at the end of September after more than 38 years of service with the SEC.
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Article
Ex-KPMG leader atop 'chain of corruption' gets a year and a day in jail
A former KPMG leader was sentenced to one year and one day in federal prison and three years of supervised release for his role in a scheme to subvert the regulatory inspection process.
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Article
States sue SEC over Reg BI
Seven states and the District of Columbia have filed a lawsuit against the SEC in an effort to block the regulator’s recently approved Regulation Best Interest rule package.
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Article
SEC’s Clayton calls out dearth of global assistance in battling corruption
Is the SEC tired of being a global cop? In a speech Monday, SEC Chair Jay Clayton rallied against a “continuing lack of global commitment” to combatting offshore corruption.
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ArticleRisk alert: CCOs should examine policies around advisers’ adherence to disclosure rules
The SEC’s Office of Compliance Inspections and Examinations suggests a policy and procedure review for investment advisers for certain “principal trades” involving clients.
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ArticleOptions Clearing Corp. fined $20M over risk policies
Options Clearing Corp. will pay a combined $20 million in penalties to the SEC and CFTC to settle charges that it failed to implement certain risk management policies as required by U.S. laws and regulator rules.
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Article
SEC names San Francisco associate regional director
The SEC announced Monique Winkler has been named associate regional director for enforcement in the San Francisco Regional Office.
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ArticleJuniper settles FCPA case with SEC for $11.7M
Juniper Networks has reached an $11.7 million settlement with the SEC for violations of the Foreign Corrupt Practices Act concerning its sales practices in Russia and China.
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ArticleSEC issues 9 compliance & disclosure interpretations for Inline XBRL
The SEC’s Division of Corporation Finance this month published nine new Compliance and Disclosure Interpretations relating to Inline XBRL rules, particularly concerning common questions around the exhibit index and cover page tagging.