Daily Archives: July 18, 2022, 4:39 pm

Elon Wants to Fight the Bots – Bloomberg

Elon Musk is trying to get out of his deal to buy Twitter. He claims to believe that more than 5% of Twitter’s mDAUs are bots. It would clearly be advantageous for Musk if we lived in the alternate universe where Twitter’s merger agreement promised that no more than 5% of its mDAUs were bots. For one thing, he might be right,…

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Auditors Cheating on Ethics Exams – Who’s Surprised? – Re:Balance — Jim Peterson

Pious dissections of the SEC’s record-setting $ 100 million fine levied this summer against EY for widespread staff cheating on ethics and other exams, and the firm’s delays and mis-directions in its regulatory reporting, have missed three points: They did it because they could, and had their reasons. The reasons evaded the understanding and best intentions of leadership, so compliance…

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SEC Action Against CCO Raises Many Questions | ThinkAdvisor

The order presents several problems for the industry. First, there are three missing players in this drama: the “bad guy” who engaged in undisclosed OBA(s) and who hasn’t apparently been sanctioned, the IAR’s supervisor who presumably could have ordered him to complete those missing forms, and the CCO’s supervisor. Second, it’s not clear how the RIA violated the Advisers Act…

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