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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInFormer Apollo Partner Ali Rashid Busted for Fraud—Again | Observer
Mohammad Ali Rashid, a former senior partner at private equity firm Apollo Management L.P., is charged with using his clients’ fund to pay for personal expenditures, the Securities and Exchange Commission (SEC) said today. The SEC said in a press release that Rashid secretly billed his clients for approximately $290,000 for family vacations, hair salon […]
Regulators Can’t Keep Up With Wall Street’s Robot Invasion – Bloomberg
“What you really need are computer geniuses who failed as algorithmic traders and are willing to switch sides,” said Brad Bennett, who was head of enforcement at the Financial Industry Regulatory Authority until earlier this year. “You have to be able to deconstruct the code.” via Regulators Can’t Keep Up With Wall Street’s Robot Invasion […]
SEC ignored years of warnings about cybersecurity before massive breach – The Washington Post
For years before the Securities and Exchange Commission suffered a massive breach last year, federal watchdogs had warned the agency to encrypt the sensitive financial data stored in its networks. The Government Accountability Office delivered the admonition most recently in July, a month before the SEC’s leadership learned of the 2016 hack. But the agency’s […]
Clayton says SEC can’t simply take over DOL fiduciary rule — Investment News
Industry opponents of the Labor Department’s fiduciary rule want the Securities and Exchange Commission to swoop in and take over rulemaking on investment advice standards, but the agency can’t simply stop the DOL regulation, SEC Chairman Jay Clayton said Tuesday. via Clayton says SEC can’t simply take over DOL fiduciary rule — Investment News