These are some of the compliance related stories that recently caught my attention.
Deflategate (Part Two): My texts runneth over by Joshua C. Garbarino in The FCPA Blog
The spontaneous nature of texts, often with photos, and sending them before anyone thinks about the consequences, means the texts can be a very revealing source of eDiscovery.
Several courts have addressed the discoverability of employee text messages. In this post and in the final one of this series, I’ll look at some of those cases.[More…]
Cybersecurity ‘Not Owned’ by Compliance but Shared: FINRA Exec in ThinkAdvisor
Cybersecurity is an “an operational risk issue, not generally owned” by a firm’s chief compliance officer and legal department, Daniel Sibears, FINRA’s EVP of regulatory operations said Tuesday at the joint FINRA and Securities and Exchange Commission Broker-Dealer Compliance Outreach Seminar in Washington. [More…]
An Example of Cooperation Credit from the SEC by Thomas O. Gordon in SEC Actions
The Commission’s recent settlement with cooperator Frank Tamayo is an illustration of cooperation credit given by the agency, according to an agency press release. SEC v. Tamayo, Civil Action No. 3:14-cv-09844 (D. N.J.). Mr. Tamayo was the man in the middle of an insider trading ring composed of three friends. He had been friends with Steven Metro since law school. Mr. Metro later became a managing clerk at Simpson Thatcher. He has also been friends with Vladimir Eydelman, a registered representative with Oppenheimer & Co., for years. [More….]
SEC’s White: Compliance officers not a target of the agency by Mark Schoeff Jr. in Investment News
“To be clear, it is not our intention to use our enforcement program to target compliance professionals,” Ms. White told about 1,000 broker-dealer compliance officials at SEC headquarters in Washington. “We have tremendous respect for the job you do. You have a very tough job in a complex industry where the stakes are extremely high.” [More…]
U.S. Chamber: 28 Recommendations on SEC Enforcement Practices by Bruce Carton in Compliance Week
The report offers several recommendations about a topic that is currently generating considerable controversy: SEC administrative proceedings. It also recommends reforms in areas including the Wells process; the SEC’s policy on requiring admissions in settlements; document requests and production; SEC press releases and litigation releases; and much more. [More…]
Pan-Mass Challenge: It’s not too late to show your support for me and cancer research. [Donate] The Pan-Mass Challenge donates 100% of every rider-raised dollar to Dana-Farber Cancer Institute through its Jimmy Fund.
If you are reading this on Friday morning I’m in the middle of this grueling 130-mile training ride. Support me in my suffering.
[button link=”http://www2.pmc.org/e.asp?tid=7200&q=https://www2.pmc.org/egifts/DC0176=25″]Donate $25 to the Pan-Mass Challenge[/button]
[button link=”http://www2.pmc.org/e.asp?tid=7200&q=https://www2.pmc.org/egifts/DC0176=50″]Donate $50 to the Pan-Mass Challenge[/button]
[button link=”http://www2.pmc.org/e.asp?tid=7200&q=https://www2.pmc.org/egifts/DC0176=100″]Donate $100 to the Pan-Mass Challenge[/button]
[button link=”http://www2.pmc.org/e.asp?tid=7200&q=https://www2.pmc.org/egifts/DC0176″]Donate $___ to the Pan-Mass Challenge[/button]
Bike on Wall is by Josh Zakary
