Monthly Archives: October 2019

SEC Cancels Vote To Change Whistleblower Program As Opposition Mounts

The Securities and Exchange Commission announced that it canceled its meeting to vote on controversial rule changes to its whistle-blower program. The cancellation of the meeting, previously scheduled for October 23, was announced on the SEC’s website yesterday. There are reports the meeting will be rescheduled for November. The cancellation comes amidst steep opposition to the proposed rule changes, which…

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SEC official pushes back against criticism of share-class crackdown

Critics said the SEC launched the share-class initiative without explaining to firms the disclosure rubric. They assert that the SEC changed its expectations without providing a chance for public comment — in other words, the SEC was engaging in rule-making by enforcement. But Steven Peikin, co-director of the SEC Enforcement Division, said the industry should have known from previous enforcement…

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Former SEC investigator charged with revealing insider information

Cohn allegedly accessed compromising information about an investigation into GPB when he was a compliance examiner and industry specialist at the SEC’s enforcement division, according to officials with the Eastern District of New York, the FBI and the SEC Office of Inspector General, who announced the charges. While Cohn was in discussions with GPB about employment there, he divulged inside…

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SEC Emphasizes Auditor Independence After String of Shortfalls

The SEC’s chief accountant for the Division of Enforcement delivered a stern reminder to auditors that the regulator will investigate any behavior that could be seen as a conflict of interest. “And if you’re over the line, violating those independence standards, we’ll bring actions. It’s just something that is too important. The auditor must be independent in fact and appearance,”…

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SEC puts emphasis on protecting teachers, military personnel from overpaying for advice

As the SEC was working on the regulatory package, it found that those two groups of investors were “particularly susceptible” to paying too much for advice, SEC Chairman Jay Clayton told the Securities Enforcement Forum in Washington. “Teachers and military folks hold a special place in all our hearts at the SEC,” Mr. Clayton said. “For the most part, their…

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Greenberg Traurig’s White Collar Practice Attracts Former Federal Prosecutor David I. Miller | News | Greenberg Traurig LLP

David I. Miller, an experienced trial lawyer and former federal prosecutor, has joined the New York office of global law firm Greenberg Traurig, LLP as a shareholder in its Litigation Practice. He joins from Morgan Lewis. via Greenberg Traurig’s White Collar Practice Attracts Former Federal Prosecutor David I. Miller | News | Greenberg Traurig LLP.

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