All Securities and Exchange Commission articles – Page 66
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Blog
SEC adopts T+2 settlement cycle for securities transactions
The SEC has approved reducing the settlement cycle for most broker-dealer securities transactions by one day. It will also evaluate the possibility of end-of-the-day settlement cycles.
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Dems demand end to pay-ratio rule delay
Senate Democrats are demanding that the SEC stop delaying implementation of a controversial rule requiring that CEO pay be disclosed as a comparative ratio to their median employee.
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Article
New leadership, new priorities for FINRA
A new year has meant some big changes for the Financial Industry Regulatory Authority, including several recent appointments, some new initiatives, and an update to the agency’s enforcement priorities.
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Senate Banking Committee schedules Clayton hearing
President Donald J. Trump’s pick to serve as SEC chairman, Jay Clayton, will testify before the Senate Banking Committee on March 23, a prelude to confirmation by the full Senate.
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SEC issues new guidance on ‘robo-advisers’
The Securities and Exchange Commission this week published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers. Jaclyn Jaeger has more.
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Article
The FCPA is unlikely to vanish under President Trump
Despite rhetoric to the contrary, FCPA enforcement during the Trump administration will not die off. If anything, it might actually increase. Jaclyn Jaeger explores.
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SEC, NASAA sign info-sharing agreement for crowdfunding
The North American Securities Administrators Association, representing the interests of state securities agencies, and the Securities and Exchange Commission signed an information-sharing agreement as new rules to facilitate intrastate crowd-funding offerings and regional offerings take effect. Jaclyn Jaeger has more.
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Panasonic discloses FCPA probe
Panasonic, a Japanese multinational electronics company, today issued a statement disclosing that it’s being investigated for potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Former SEC Enforcement Director rejoins Debevoise
Andrew Ceresney, who served from April 2013 to December 2016 as the Director of Enforcement at the Securities and Exchange Commission, will return to the law firm Debevoise as co-chair of the litigation department, where he will practice primarily in the White Collar & Regulatory Defense Group.
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GM resolves SEC ignition switch investigation
Without admitting or denying any wrongdoing, General Motors has agreed to pay a $1 million civil penalty to resolve charges that deficient internal accounting controls prevented the company from properly assessing the potential impact on its financial statements of a defective ignition switch found in some vehicles. Jaclyn Jaeger reports.
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Orthofix to pay $15M for accounting failures and FCPA violations
Medical-device company Orthofix International has agreed to admit wrongdoing and pay more than $14 million to settle SEC charges that it improperly booked revenue in certain instances and made improper payments to doctors at government-owned hospitals in Brazil in order to increase sales. Jaclyn Jaeger reports.
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Allergan to pay $15M for disclosure failures in wake of hostile takeover bid
Drug company Allergan, headquartered in Dublin, Ireland, has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid, the Securities and Exchange Commission announced. Jaclyn Jaeger has more.
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Article
SEC oversight in the Digital Age
Big Data is the compliance buzzword of the day, but at the SEC, high technology is both a challenge and an opportunity. Jaclyn Jaeger has more.
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SEC details 2017 examination priorities
The SEC has announced its Office of Compliance Inspections and Examinations’ priorities for the new year. Added areas of focus, writes Joe Mont, include electronic investment advice, money market funds, and the financial exploitation of senior investors.
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ArticleAnti-corruption compliance lessons from Teva’s FCPA case
Teva Pharmaceuticals conducted bribery on a massive, international scale and became a case study for FCPA watchers everywhere. Jaclyn Jaeger reports.
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Mondelez International to pay $13M in FCPA case
Mondelez International, a beverage and snack-food company, has agreed to pay $13 million in civil penalties to the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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SEC issues $5.5 million whistleblower award
The SEC has awarded more than $5.5 million to a whistleblower who provided critical information that helped the SEC uncover an ongoing scheme. Jaclyn Jaeger reports.
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FINRA details 2017 examination priorities
The Financial Industry Regulatory Authority has released its annual “Regulatory and Examination Priorities Letter,” an overview of areas it plans to focus on in 2017 exams. More from Joe Mont.
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Teva to pay $519M to settle FCPA charges
Teva Pharmaceutical Industries will pay $519 million to settle charges that it violated the FCPA; while global construction company Odebrecht and petrochemical company Braskem (both based in Brazil) will pay a combined penalty of $3.5 billion to settle the largest foreign bribery case in history. Jaclyn Jaeger reports.
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Odebrecht, Braskem to pay record $3.5B in global bribery case
Global construction company Odebrecht, based in Brazil, and Brazilian petrochemical company Braskem pleaded guilty yesterday and agreed to pay a combined total penalty of at least $3.5 billion—the largest foreign bribery case in history, according to the U.S. Department of Justice. Jaclyn Jaeger has more.