‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInJay Clayton’s legacy at the SEC: productive or partisan? – InvestmentNews
Kurt Wolfe, a securities compliance attorney at Troutman Pepper, also said Clayton leaves with a reputation for getting things done. “He’s been an effective chairman in many respects,” he said. “He shepherded through a large number of new rules and amendments. Not everyone likes all of them, and that cuts both ways. Nobody got everything […]
SEC Chairman Jay Clayton Confirms Plans to Conclude Tenure at Year End
Jay Clayton, Chairman of the Securities and Exchange Commission, confirmed today that after serving for more than three and a half years, he will conclude his tenure at the end of this year. Chairman Clayton was sworn in on May 4, 2017, and will leave the SEC as one of its longest serving Chairs. During […]
Wall Street Knows Who It Doesn’t Want at SEC: Gensler or Bharara
The uneasiness started late last week, when news broke that Gary Gensler — a scourge of Wall Street when he led the Commodity Futures Trading Commission — had been tapped to examine financial regulators for the president-elect. That fueled concerns that Gensler himself might be in line for the top job at the SEC or […]
SEC Chief Urged to Drop U.S. Attorney Bid Amid Political Battle
U.S. Securities and Exchange Commission Chairman Jay Clayton was surprised and dismayed by the political battle that quickly erupted over his pending nomination to be the top federal prosecutor in New York, said people familiar with the matter. Now, as it becomes clear that he may face insurmountable hurdles to winning Senate confirmation for the […]
David Ruder, SEC chair during 1987 crash, dies at 90 – BNN Bloomberg
David Ruder, a former chairman of the U.S. Securities and Exchange Commission whose off-the-cuff comments may have fanned panic selling on what became known as Black Monday, has died. He was 90. He died on Feb. 15, according to Northwestern University, where he served as dean of the law school from 1977 to 1985. No […]
U.S. SEC chair says agency will not impose ‘caps’ on whistleblower awards – Reuters
Asked at a Senate hearing on Tuesday if the rule will be consistent with the statute, which prohibits the SEC from capping awards, Clayton said: “Absolutely.” He added: “I can tell you that what our proposal was intended to do was to make it clear how we make those decisions at the top end and […]
Mary Jo White’s Ohio State Probe Earns $1M for Debevoise & Plimpton | Corporate Counsel
As a result of attorney Mary Jo White’s investigation into Ohio State University head football coach Urban Meyer in 2018, Meyer retained his job after a short suspension and went on to coach his team to victory in the Rose Bowl on New Year’s Day. And White’s law firm, Debevoise & Plimpton, pocketed a cool […]
Republican frustrations grow as SEC chair proves frequent ally of Democrats | Reuters
While the former Wall Street lawyer represents a step to the right from his Democrat-picked predecessor, many Republicans and industry lobbyists say he is not being aggressive enough in pursuing President Donald Trump’s business-friendly agenda. “The relationship…hasn’t been one where we’re exactly on the same page, but we’re communicating,” said Republican Representative Bill Huizenga, who […]
What’s in a Broker’s Name? SEC to Address Titles Used When Advising Investors – WSJ
Speaking at a conference in Washington, Securities and Exchange Commission Chairman Jay Clayton said a regulation requiring brokers to act in the best interest of clients would address the ability of brokers to use titles such as “financial adviser.” Some investor advocates say the title misleads clients into thinking that brokers have the same legal […]
SEC’s Clayton Vows to Do More Exams with Less Funding – AdvisorHub
“This is an example of an area where flexibility is necessary,” Clayton said, according to his prepared remarks. “I expect that for at least the next several years we will need to do more each year to increase the agency’s examination coverage of investment advisers in light of continuing changes in the markets.” He did […]