Daily Archives: December 5, 2016, 2:00 pm

FINRA Could Step In If DOL Fiduciary Rule Is Repealed–And That’s Good News – Focus on Funds – Barrons.com

Even in a best-case scenario for brokers, in which the new administration succeeds in repealing the DOL’s fiduciary rule and the SEC doesn’t pursue a version of its own, FINRA could still step in to impose its own rule, as it’s free from pressure from the president. (FINRA was of course on record as against the DOL’s fiduciary rule, but…

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Enron’s Legacies, a Decade and a Half Later | The D&O Diary

Fifteen years ago this month, the once high-flying energy company Enron completed its massive collapse when it filed a petition for bankruptcy protection. In his interesting December 2, 2016 post on the Harvard Law School Forum on Corporate Governance and Financial Regulation (here), Michael Peregrine of the McDermott, Will & Emery law firm takes a retrospective look at Enron’s downfall…

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Audit Hits Regulator for Not Testing Brokerage Firms’ Cyber Security Policies — Insurance Journal

The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in October by Brown & Company CPAS and Management Consultants PLLC at the request of the CFTC’s inspector general. It found that the CFTC, in conducting cyber…

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