Doug Cornelius on compliance for private equity real estate
Pump and Dump schemes brought the fiduciary standard to light. In SEC v Capital Gains Research Bureau the US Supreme Court said a pump and dump scheme by an investment adviser violated its fiduciary duty. More recently, the SEC published an investor alert about Social Media and Investment Fraud. There is a lot of different … Read more »
Twitter is stream of random thoughts, news, insightful commentary, boring stories, humor, sadness, food pictures, hate, love, and cat pictures. The internet as a whole. At least a few traders have used Twitter as stock pricing indicator. Theoretically, that means stories could be planted that would move the stock price of a company. One trader … Read more »
The Securities and Exchange Commission charged Mark A. Grimaldi and his firm, Navigator Money Management, with making false claims through Twitter, newsletters, and other communications about the success of their investment advice and a mutual fund they manage. Grimaldi and Navigator were using social media and widely disseminated newsletters to cherry-pick information and make misleading claims … Read more »
Perhaps you’ve heard the news that Twitter is going public. So you see that TWTR is already heading up fast so you but some. There is a trading frenzy. The stock is doubling in price, and then again, and again. Great offering. Just one problem. You bought stock in the defunct Tweeter Home Entertainment Group. … Read more »
FINRA has long regulated and limited the ability of broker/dealers to communicate with the public. One of their missions is to protect the investing public from unscrupulous securities brokers. Twitter is a communications tools and any messages posted to Twitter will need to be in compliance. It was inevitable that we would see a FINRA … Read more »
“If someone is being hit for a bribe, isn’t the easiest thing just to put it on Twitter? It goes round the world in next to no time.” Richard Alderman, head of the U.K.’s Serious Fraud Office, is apparently serious about Twitter. After self-congratulating themselves for organizing the government overthrows in North Africa and the … Read more »
In a tearful statement to the media, Rep. Anthony Weiner admitted he posted a lewd picture of his anatomy to Twitter. Not only that, he says he’s engaged in “inappropriate” online communications with at least six other women. It was just a few days ago that I revisited the Fabulous Fab Rule: Don’t write emails … Read more »
Panda Security released its first annual Social Media Risk Index for small- and medium-sized businesses. They surveyed 315 US SMBs with up to 1,000 employees during the month of July. 33 percent of these companies had experienced a malware or virus infection from social networks 23 percent citing employee privacy violations resulting in the loss … Read more »
I was in the audience for FINRA’s latest educational Program: Implementing Compliance Practices for Social Media. This program addressed implementation of new guidance that FINRA recently issued in Regulatory Notice 10-06, concerning social media. Resources and Supplementary Material (.pdf) Slide deck (.pdf) These are my notes, live from the program (& riddled with typos): Introduction … Read more »
I’m attending the Enterprise 2.0 Conference in San Francisco. I’m sharing my notes from this session. Clara Shih,founder and CEO of Hearsay Labs, which develops web applications to track brand engagement and accelerate sales on Facebook and Twitter. She is also the author of The Facebook Era: Tapping Online Social Networks to Build Better Products, … Read more »