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The BD/IA Regulator Providing securities regulatory, enforcement and litigation trends for broker-dealers, investment advisers and investment funds

Tag Archives: fraud

A New SEC Enforcement Direction for 2014

Posted in Broker-Dealer Regulation, Enforcement, Investment Adviser Regulation, SEC Enforcement

Each year, the SEC puts on its most informative conference of the year: The SEC Speaks.  During the course of the two-day conference, held this year on February 21 and 22, the Chair and each Commissioner, as well as the most senior staff of each division of the SEC, provide their thoughts and insights into… Read More

OCIE Publishes 2013 Examination Priorities

Posted in Broker-Dealer Regulation, Fund Regulation, Investment Adviser Regulation

In an effort to make sure that registrants adequately prepare for supervisory examinations, OCIE published its 2013 examination priorities. There are few surprises in the release, but a slight shift in priorities may signal enforcement cases to come. Not surprisingly, OCIE will continue to focus on identification theft and fraud. But registrants should expect examiners increasingly to… Read More

SEC Enforcement Priorities and Compliance Opportunities

Posted in Enforcement, FINRA Enforcement, SEC Enforcement

We recently peered into our crystal ball to divine the SEC’s 2013 enforcement priorities for advisers to private funds (i.e., hedge funds and private equity funds), but came up empty. Instead, we looked at the SEC’s public statements and prior enforcement actions, which reveal four areas of enforcement risk for private fund advisers. First, the SEC will… Read More

MMF Executives Sue Independent Trustees for Fraud and Waste of Corporate Assets

Posted in Fund Independent Directors, Private Litigation

In yet another interesting twist in the case of the money market fund that broke the buck, the principals of the fund’s investment adviser sued the funds’ independent trustees, claiming that they had a “substantial, if not controlling, role in almost all the conduct with which [the SEC] takes issue.” The complaint is good reading,… Read More