Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The Securities and Exchange Commission Tuesday fined a chief compliance officer for failing to verify information provided by an investment adviser that turned out to be false.
David I. Osunkwo was fined $30,000 and suspended for a year from certain jobs related the investment adviser and securities industry.… Continue Reading
U.S. Federal District Judge Jed S. RakoffA three-judge panel of the United States Court of Appeals for the Second Circuit ruled Wednesday that Judge Jed S. Rakoff made a mistake when he rejected a negotiated settlement between the SEC and Citigroup three years ago.… Continue Reading
The Securities and Exchange Commission on Monday issued guidance on the conflict-minerals disclosure requirements contained in the Dodd-Frank Act.
The SEC’s answers to frequently-asked questions from registered companies focused on the scope of corporate disclosure requirements in conflict-minerals reports and the role of independent auditors.… Continue Reading
Mary Jo White, chairman of the Securities and Exchange Commission, sat last month for a terrific interview with C-SPAN founder Brian Lamb as part of its Q&A series.
As Robert Feinberg of Money News said, “Lamb is one of the best interviewers in the business, and he was at his best for this program.… Continue Reading
The U.S. Securities and Exchange Commission’s (SEC) may finally be winning its long battle to convince China to hand over audit papers of companies under investigation in the U.S.
The China Securities Regulatory Commission has handed over audit documents produced by Chinese affiliates of Ernst & Young, Deloitte Touche Tohmatsu International and KPMG, and promised to provide work papers related to clients of Ernst & Young and PwC.… Continue Reading
The U.S. Securities and Exchange Commission (SEC) published its 2013 Agency Financial Report this week to detail its results for the President, Congress and public.
By the end of the 2013 fiscal year, the SEC had obtained total penalties and disgorgements of $3.4 billion, an increase from the $3.1 billion awarded the year before, it said in the report.… Continue Reading
Since August 2012, there has been a lot of discussion in anti-corruption circles about Oracle’s settlement with the SEC, including here. Much of the past discussion has focused on the fact that the SEC charged Oracle with books & records and internal controls FCPA violations without an attendant allegation of bribery.… Continue Reading
The SEC announced an award of over $150,000 to an unnamed whistleblower whose tips helped the agency stop a scheme that was defrauding investors.
The case didn’t involve violations of the Foreign Corrupt Practices Act, which are also elegible for whistleblower rewards.… Continue Reading
The SEC now pays for information about securities law violations — including the FCPA — leading to a recovery of at least $1 million. The whistleblower reward can be from 10% to 30% of the recovery — a big range that’s entirely within the SEC’s discretion.… Continue Reading
We considered in a prior post the new spirit of tough enforcement at the DOJ and SEC and the need to seize the opportunity for more advocacy by the compliance profession, in particular to head off a resolution of the Wal-Mart investigation harmful to compliance officers and the public.… Continue Reading
The SEC’s associate director of enforcement, Stephen L. Cohen, left, had some great things to say when he spoke this week at the SCCE Annual Conference in Washington D.C.
Here’s part of what he said:
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I am surprised how infrequently companies try to persuade us at the front end of an investigation that they have a robust compliance culture and record of ethical conduct.… Continue Reading
Sean McKessy, chief of the SEC whistleblower officeSome SEC whistleblowers act on principle and not for the money. But last week’s $14 million reward from the SEC may cause some tipsters to reconsider.… Continue Reading
