Mary Jo White

posted in: Compliance | 0

President Barack Obama has nominated former federal prosecutor Mary Jo White as chairman of the Securities and Exchange Commission. White, who is in private practice, was the first woman to serve as U.S. attorney for the Southern District of New … Continued


posted in: Trade Practices | 0

So what is cherry-picking?  The SEC gives a good description in a recent enforcement case (In the Matter of MiddleCove Capital, LLC and Noah L. Meyers): “Myers executed his cherry-picking scheme by unfairly allocating trades that had appreciated in value … Continued

BDs Closer to Fiduciary Rule

posted in: Client Relations | 0

The Securities and Exchange Commission plans to issue a “concept release,” which will also likely include a request for information, in the first quarter regarding its rule to put brokers under a fiduciary mandate.

Enforcement Director Robert Khuzami to Leave SEC

posted in: SEC Examinations | 0

The Securities and Exchange Commission today announced that Enforcement Director Robert Khuzami will leave the agency after nearly four years of leadership. During Mr. Khuzami’s tenure, the Enforcement Division filed scores of significant actions connected to the financial crisis and … Continued

Compliance Alert! Compliance Resolutions (Part 2)

posted in: Alert! | 0

Dear Compliance Professional, Continuing on with our New Year’s compliance resolutions. . . Conduct a Risk Assessment It is clear from the recent trend of SEC examinations that regulators are sanctioning advisory firms that do not conduct an annual risk … Continued

A Few Compliance Tips

posted in: Compliance | 0

Read your firm’s E & O insurance to make sure it covers what you do in your advisory business. Have a whistleblower policy. Have a pay-to-play policy.

Enforcement vs Rulemaking

posted in: Compliance | 0

It is interesting that a significant number of the standards imposed on investment advisers today have been developed through the SEC’s institution of enforcement actions rather than through their rulemaking authority under the Advisers Act.

FINRA Invites Advisers to Utilize Arbitration

posted in: Compliance | 0

FINRA recently issued guidance stating that it will now accept requests for arbitration on a voluntary, case-by-case basis from investors and investment advisers, provided the parties meet certain conditions. Guidance on Disputes between Investors and Investment Advisers who are not … Continued

Compliance Alert! Compliance Resolutions (Part 1)

posted in: Alert! | 0

Dear Compliance Professional, As we start the new year, I think it appropriate that investment advisers add a few compliance-related resolutions to go along with the more typical “eat healthy, exercise more” resolutions we usually break by the second week … Continued