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Senator Reed introduces proxy adviser regulation bill ahead of SEC roundtable

The Senate has joined the debate over whether and how to regulate proxy advisory firms now that Sen. Jack Reed (D-RI) has introduced a bill to require the largest proxy advisory firms to register with the SEC under the Investment Advisers Act. The Corporate Governance Fairne

Virtual currency scammer heading to slammer

The CFTC simultaneously filed and settled charges against Joseph Kim of Phoenix, Arizona, requiring him to pay more than $1.1 million in connection with a fraudulent scheme involving Bitcoin and Litecoin. In the CFTC’s order, Kim admitted to orchestrating a fraudulent

Jackson calls on Commission to complete Dodd-Frank rulemaking

Calling the SEC’s failure to pass unfinished Dodd-Frank rulemakings "profoundly troubling," SEC Commissioner Robert Jackson called on the Commission to finalize the rules on clawbacks, pay versus performance, and employee and director hedging as soon as possi

CFTC busts Deutsche trader, but bank gets a pass for cooperating

A Deutsche Bank trader will pay a $350,000 penalty to settle CFTC charges of mismarking the values of inflation swap instruments to cover up his trading losses. In its first public declination letter, the CFTC’s Division of Enforcement explained that it was closing its

CFTC busts Deutsche trader, but bank gets a pass for cooperating

A Deutsche Bank trader will pay a $350,000 penalty to settle CFTC charges of mismarking the values of inflation swap instruments to cover up his trading losses. In its first public declination letter, the CFTC’s Division of Enforcement explained that it was closing its

SEC continues crackdown on ADR mishandling with $38.7M in penalties for Citibank

In the latest in an industry-wide crackdown, the SEC required Citibank, N.A. to pay a total of $38.7 million for improperly handling "pre-released" American Depositary Receipts (ADRs). Similarly to previous enforcement actions including Deutsche Bank, the SEC found

SEC cyber unit chief, defense attorneys discuss cybersecurity and SEC enforcement

Robert A. Cohen, head of the SEC Enforcement Division’s cyber unit, recently spoke on a panel addressing cybersecurity issues at the 2018 Securities Docket Enforcement Forum. He was joined by two former SEC officials, who gave their views on the current enforcement cli

SEC amends order handling and routing disclosure rules

Eighteen years after adopting order handling and routing disclosure rules for broker-dealers, the SEC amended those rules to bring them in line with modern routing and execution practices. Under amended Rule 606 of Regulation NMS, a brokerage customer who places a not-held o

Ex-Goldman bankers embroiled in massive Malaysian corruption scandal

Two former Goldman Sachs bankers were charged with Foreign Corrupt Practices Act (FCPA) and money laundering violations for allegedly paying hundreds of millions in bribes to Malaysian and Abu Dhabi officials and conspiring to launder billions of dollars embezzled from the 1

Beverage company and former CEO settle fraud charges

Without admitting or denying allegations, a beverage company and its former CEO charged with securities fraud consented to entry of a permanent injunction and nearly $400,000 in disgorgement, interest and penalties (SEC v. Weber, October 30, 2018, Irizarry, D.).

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