In case you are wondering whether to bribe government officials to get government contracts, the answer is almost always “no.”  The Foreign Corrupt Practices Act (“FCPA”) makes it unlawful for U.S. businesses and individuals (and foreign private issuers) to make payments to foreign government officials to assist in obtaining or retaining business. Specifically, the anti-bribery…

A Conversation with Chair Mary Jo White Keynote Session 43rd Annual Securities Regulation Institute Chair Mary Jo White San Diego, California Jan. 26, 2016 SEC Chair Mary Jo White participated in a Q&A session with Steven Bochner, Chair of the Securities Regulation Institute. The Q&A was part of Northwestern University School of Law’s 43rd Annual…

Directors Forum 2016 Keynote Address Andrew Ceresney, Director, Division of Enforcement  San Diego, California Jan. 25, 2016 Introduction Good evening and thank you for that very kind introduction.  It’s a pleasure to speak with you all today.  Before I start, I must give our standard disclaimer that the views I express today are my own…

U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 23451 / January 21, 2016 Securities and Exchange Commission v. Marquis Properties, LLC, Civil Action No. 2:16-cv-00040 (D. Utah) SEC Charges Utah Real Estate Investment Company and Its Principals With Operating a Ponzi Scheme and Obtains Order Freezing Assets The Securities and Exchange Commission obtained an asset…

On December 4, 2015, President Obama signed into law the Fixing America’s Surface Transportation Act, known as the FAST Act. Although aimed principally at authorizing spending on highway and transit projects, the FAST Act includes several amendments to the Jumpstart Our Business Startups Act (“JOBS Act”) and other securities law provisions. The aspects of the…

The SEC charged Goldman Sachs, who settled for $15 million, with Improperly documenting the locales used when clients borrowed securities to short sell against them. Full release available here. FOR IMMEDIATE RELEASE 2016-9 Washington D.C., Jan. 14, 2016 — The Securities and Exchange Commission today announced that Goldman, Sachs & Co. has agreed to pay…

New Areas of Focus Include Liquidity Controls, Public Pension Advisers, Product Promotion, Exchange-Traded Funds and Variable Annuities FOR IMMEDIATE RELEASE 2016-4 Washington D.C., Jan. 11, 2016 —The Securities and Exchange Commission today announced its Office of Compliance Inspections and Examinations’ (OCIE) 2016 priorities.  New areas of focus include liquidity controls, public pension advisers, product promotion, and…

The SEC’s Website writes a page about “How to Read a 10-K“, which I republish here: How to Read a 10-K If you want to follow or invest in a U.S. public company, you can find a wealth of information in the company’s annual report on Form 10-K. Among other things, the 10-K offers a…

Last week, in my groupie fan-club review of Commissioner Luis Aguilar’s best speeches, I chose his December 17, 2014 speech where he proposed updates to the rules regarding transfer agents as his “greatest speech ever.”  A bold prediction if I do say so myself. Especially considering I haven’t read all of his speeches (Commissioner Aguilar,…

This article is reposted from a FINRA and SEC Investor Alert.  A summary can be found here. Securities-Backed Lines of Credit – It May Pay to See Beyond the Pitch An increasing number of securities firms are marketing and offering securities-backed lines of credit, or SBLOCs, to investors. SBLOCs can be a key revenue source…

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