Securities and Exchange Commission

Editors

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

Posts Tagged: Securities and Exchange Commission

China sends Big Four audit records to SEC

Staff Writers January 2, 2014

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

SEC annual report touts FCPA enforcement

Julie DiMauro December 19, 2013

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

Distributor doldrums – How deep do they want us to dig?

Pete Viksnins November 25, 2013

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

SEC awards $150,000 to fraud-stopping whistleblower

Julie DiMauro October 31, 2013

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

How whistleblowers get top dollar from the SEC

Richard L. Cassin October 29, 2013

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

Wal-Mart and the FCPA : An open letter to the DOJ and SEC

Michael Scher October 23, 2013

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

‘Misconduct is an outlier in an ethical culture’

Richard L. Cassin October 11, 2013

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:

* * *

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

Second chance for SEC whistleblowers

Richard L. Cassin October 10, 2013

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

Doesn’t the SEC watch Mad Men?

Russell A. Stamets August 21, 2013

Mad Men characters Don Draper (left) and Pete Campbell (Photo courtesy of amctv)Chinese authorities engaged in vigorous campaigns against corruption by foreign companies and freshly wary of dangerous Western ideas might well react with wonder at the new investigation of hiring practices at JP Morgan China.… Continue Reading

Finally, a thumbs up for IBM settlement

Richard L. Cassin July 26, 2013

After a wait of two years, a federal judge Wednesday granted final approval for IBM’s settlement with the SEC of civil FCPA charges.

U.S. District Judge Richard Leon, left, OK’d the $10 million settlement he first rejected in March 2011.… Continue Reading

Khuzami to Kirkland & Ellis

Richard L. Cassin July 23, 2013

Former SEC enforcement chief Robert Khuzami is now a partner in the international law firm of Kirkland & Ellis. He’ll work out of the firm’s offices in Washington, D.C. and New York.… Continue Reading

More compliance needed in our government agencies

Richard L. Cassin May 15, 2013

Here are wise words from Tuesday’s post by Ellen Podgor on her White Collar Crime Prof Blog:

Politics do not belong in the agencies of our government. Whether it be the DOJ, SEC, or IRS – it is important that when politics gets infused in discretionary decisions, someone immediately puts a stop to this happening.