The U.S. Securities and Exchange Commission is proposing rule amendments to beef up oversight of investment advisors that retain custody of client assets.The SEC is seeking public comment on proposed rules, which are intended to ensure that investment advisors who have custody of clients’ assets are handling those assets properly. Among other things, the SEC […]
Among other things, the GAO recommends that SEC’s new office of collections and distributions adopt a new structure
Company reviewing regulator's complaint
The U.S. Securities and Exchange Commission has a former Citigroup investment banker for allegedly tipping his brother about upcoming merger deals, the SEC said Thursday.The SEC alleges that a former director in Citigroup Global Markets’ investment banking division in New York, repeatedly told his brother about upcoming deals involving Citigroup’s health care industry clients. It […]
The U.S. Securities and Exchange Commission on Thursday announced a new effort to identify and assess risks in the financial markets by recruiting financial industry professionals to serve in its Office of Risk Assessment.The SEC said that its new Industry and Markets Fellows Program will help the agency expand its ability to oversee complex industry […]
The U.S. Securities and Exchange Commission will hold a roundtable on May 5 to discuss whether short sale price test restrictions or short sale circuit breakers should be adopted, the regulator announced Friday.On April 8, the SEC voted to propose two approaches to restrictions on short selling — price test restrictions and circuit breakers. If […]
SEC seeks comments on short sale price test and circuit breaker restrictions
Scheme targeted Chinese-American community
The U.S. Securities and Exchange Commission has charged the auditors of Bernard Madoff’s broker-dealer firm with securities fraud over allegations that they claimed they conducted legitimate audits, when they had not, the regulator said Wednesday.In its complaint filed in federal court in Manhattan, the SEC alleges that from 1991 through 2008, certified public accountant David […]
The U.S. Securities and Exchange Commission has settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. over allegations that it let traders at other firms listen into its squawk boxes, the regulator said Wednesday.The SEC charged the firm with securities laws violations for having inadequate policies and procedures for controlling access to institutional customer […]