On May 13, 2016, the SEC issued new Compliance and Disclosure Interpretations (“C&DIs”) on Rules 100 (Crowdfunding Exemption and Requirements), 201 (Disclosure Requirements), 204 (Advertising) and 205 (Promoter Compensation) of Regulation Crowdfunding.
The Securities and Exchange Commission Confirms Critical Role Whistleblowers Play in Holding Fraudsters Accountable
The head of the SEC’s Office of the Whistleblower, Sean McKessy, reported on Friday that the increased number of rewards paid out to whistleblowers “reflects the high-quality nature of the tips the SEC is receiving as public awareness of the whistleblower program grows.”
Our guest, Patrick Gray, is the host of the excellent Risky Business security podcast.
Last week, representatives of the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) participated in Sandpiper Partners LLC’s Annual SEC/DOJ Enforcement 2016 Panel at the Metropolitan Club.
Since the financial crisis, the Securities and Exchange Commission’s enforcement activity has been the subject of much attention and debate.
On Wednesday, May 18, 2016, the U.S. Securities and Exchange Commission (SEC) proposed to increase the net worth threshold for qualified clients from $2 million to $2.1 million.
The SEC recently approved FINRA’s new Rule 2273 (Educational Communication Related to Recruitment Practices and Account Transfers), which requires delivery of an educational communication prepared by FINRA to customers of a transferring representative.
PGA golfer Phil Mickelson agreed to forfeit almost $1 million that the Securities and Exchange Commission (SEC) said was obtained through insider trading. Mickelson was named as a “relief defendant” in a criminal case, filed in the Southern District of New York against professional gambler William Walters and a former director of Dean Foods, Thomas Davis.
As noted in the May 13 edition of Corporate and Financial Weekly Digest, SEC Chair Mary Joe White, Deputy Chief Accountant Wesley R. Bricker and other high-ranking members of the staff of the SEC have expressed concerns regarding non-GAAP disclosure practices.
Phil Mickelson, whom the SEC describes as a “successful professional golfer,” was not charged with insider trading earlier today.