Journal of Investment Compliance: Volume 16 Issue 2

2014 FINRA analysis: a blockbuster year for fines

Brian Rubin, Andrew M. McCormick

– To analyze the cases and sanctions FINRA reported in 2014 and prior years to evaluate what issues may be important for broker-dealers and their representatives in the future.

FINRA 2015 regulatory and examinations priorities

Matthew T. Wirig

– To summarize the Financial Industry Regulatory Authority, Inc. (“FINRA”) 2015 Regulatory and Examinations Priorities Letter.

Heightened supervision of branch offices

Daniel A. Nathan, Lauren Navarro, Kevin Matta

To explain expectations of the US Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) as to what constitutes successful branch inspection…

SEC asset management unit’s enforcement priorities for 2015 – conflicts of interest

Perrie Michael Weiner, Patrick Hunnius, Sean R. Crain

To address “Conflicts, Conflicts Everywhere,” a speech at the recent IA Watch 17th Annual Compliance Conference by Julie M. Riewe, co-chief of the Securities and Exchange…

What will the “Eyes and Ears” of the SEC choose to see and hear this year? OCIE announces examination priorities for 2015

Kenneth Berman, Michael P. Harrell, Gregory Larkin

To discuss and interpret the recently published summary of the select priorities of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) in connection with the…

SEC IM staff issues guidance update on mixed and shared funding

Keith T. Robinson, Kimberley Church

– The article alerts investment companies and insurers of important SEC staff interpretive guidance regarding reliance on industry-standard exemptive relief.

SEC Muni enforcement chief offers her views on Municipalities Continuing Disclosure Cooperation initiative (MCDC)

M. Norman Goldberger, John C. Grugan, Bradley D. Patterson, William C. Rhodes, Tesia N. Stanley

To explain the current status of the SEC’s year-old Municipalities Continuing Disclosure Cooperation (MCDC) initiative, which encourages municipal securities issuers, borrowers…

SEC fines alternative mutual fund adviser for improper handling of fund assets

Michael McGrath, Pablo J. Man

To explain that the Securities and Exchange Commission (“SEC”) brought and settled charges against an investment adviser to several alternative mutual funds alleging, among other…

SEC “claws back” bonuses and stock sale profits from CFOs of public company charged with accounting fraud

Mary P Hansen, Garrett Trego

To explain an increasingly common practice of the US Securities and Exchange Commission (SEC) by which it seeks to “claw back” bonus and incentive compensation paid to CFOs of…

SEC’s authority to interpret the securities laws comes under fire in criminal enforcement

Joseph Boryshansky, Michael A. Asaro, James Benjamin, Charles F. Connolly

To examine a statement issued by Justice Antonin Scalia on November 10, 2014, concurrently with the Supreme Court ' s denial of certiorari in a criminal insider trading…

SEC issues cybersecurity exam observations

Richard Kuhlman, Jason Kempf

To summarize and comment on a Risk Alert issued on February 3, 2015 by the SEC’s Office of Compliance Inspections and Examinations (OCIE) to summarize its findings following…

FINRA publishes its 2015 “Report on Cybersecurity Practices”

Richard Kuhlman, Jason Kempf

To summarize and comment on FINRA’s report on cybersecurity practices, published on February 4, 2015, which arose from its 2014 targeted examination of firms’ cybersecurity…

Swap agreement safe harbors at risk in latest Lehman dispute

Craig R Enochs, James Pappenfus, Andrea Pincus, Paul Turner

This article addresses important policy issues raised in the latest Lehman dispute that directly impact the over the counter derivatives market and market participants…

Editor’s letter

Henry A Davis