These are some of the compliance-related stories that recently caught my attention.
SEC Commissioners Push Lifetime Bans on Executives by Joel Schectman in WSJ.com’s Risk & Compliance Journal
The U.S. Securities and Exchange Commission is divided over whether it should impose severe restrictions on banks and their executives who break securities rules. For top executives, those punishments could include a lifetime ban from working at publicly traded companies. And some at the Commission are advocating greater use of “bad actor” bars against financial firms found to have committed misconduct, which would impose strict limitations on their ability to sell wealthy investors stakes in private offerings like hedge funds.
Know more about the Fed than Rand Paul does by Mark Schoeff Jr. in Investment News
In a speech in Iowa this past Presidents’ Day weekend, Sen. Rand Paul, R-Ky., criticized the Federal Reserve, but was called out by experts for having a limited understanding of how the institution actually works.
How well do you know the Fed?
The SEC’s Year of Enforcement by John Sikora Jr.
It is important to heed the messages that the SEC has been sending about its view of private equity as SEC enforcement actions often follow warnings by SEC staff members in public speeches. For example, months after a 2013 speech by the Chief of the SEC’s Asset Management Unit warning against using inflated interim valuations while raising a few fund, the agency brought two related cases alleging the use of inflated valuations in fund marketing materials.
Snowball Firing Squad by Derek Rust
