Daily Archives: February 13, 2024, 9:39 am

More Cell Phones – Bloomberg

The US Securities and Exchange Commission does various things, but one thing that it does these days is charge financial services firms large fees for using mobile phones. I mean, it doesn’t provide the phones or anything. But the SEC has developed a theory that it is illegal for employees of securities brokerages and investment managers to use WhatsApp or…

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What Are the Consequences of Auditors Subject to Regulatory Enforcement Actions? Apparently Not Much

Researchers at Temple University and the University of Michigan looked at what happened to the auditors one year after settled orders were issued by the Securities and Exchange Commission (SEC) or the Public Company Accounting Oversight Board (PCAOB), and they observed three intriguing consequences, or lack thereof. A significant number of those who were involved in professional misconduct remained gainfully…

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