Weekend Reading: Countdown to Zero Day

We were in a cyber war with Iran. Kim Zetter unravels the story of Stuxnet, the US computer attack on Iran’s nuclear program in Countdown to Zero Day. A few months ago, I read A Time to Attack urging a US military attack on Iran. That book highlighted how Iran had been building a nuclear program […]

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Compliance Bricks and Mortar for October 24

These are some of the compliance-related stories that recently caught my attention. SEC Charges Athena Capital in First HFT Case in the Corporate Crime Reporter The Securities and Exchange Commission (SEC) has sanctioned a New York City-based high frequency trading firm for placing a large number of aggressive, rapid-fire trades in the final two seconds […]

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Fighting Against the SEC’s Administrative Hearings

Prior to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission’s authority to impose penalties in a case brought as an administrative proceeding was restricted to regulated entities. The SEC could not impose a significant civil penalty in an administrative proceeding. That limited administrative proceedings to cease-and-desist proceedings against broker-dealers, […]

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Association for Corporate Growth’s Compliance & Regulatory Survey

The Association for Corporate Growth released a report identifying the top compliance and regulatory concerns impacting small and midsize private equity firms. The results are unsurprising, but reinforce concerns. The top five regulatory issues were found to be: SEC Examinations (75%) Investment Adviser Act Compliance (66%) Valuation Issues (58%) General Solicitation rules (54%) Legislation (tax […]

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Compliance and Ebola

There is clearly an Ebola scare happening in the United States. It’s a nasty disease and that has attracted widespread media attention. Is there anything your compliance team should do about Ebola? I’ll assume that your firm does not have operations or personnel in West Africa. If it does, then yes, you should be concerned […]

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Kleptocracy Asset Recovery Initiative

Last week, the son and heir-apparent to the president of Equatorial Guinea agreed to give up $34 million in assets as part of a settlement with the U.S. government over corruption claims. This was the latest attack by the Department of Justice’s Kleptocracy Asset Recovery Initiative. According to the Wall Street Journal, the Kleptocracy Asset […]

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Weekend Reading: The Skies Belong To Us

It’s hard to imagine in these days of TSA security, but over a five-year period starting in 1968, hijackers seized commercial jets nearly once a week. Brendan I. Koerner captures this piece of history in The Skies Belong to Us: Love and Terror in the Golden Age of Hijacking. Mr. Koerner uses the hijacking of […]

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Compliance Bricks and Mortar for October 17

These are some of the compliance-related stories that recently caught my attention. Mathew Martoma’s Wife Fights to Keep Couple’s Florida Home, Millions in Cashby Bruce Carton in Compliance Week Martoma will begin serving his prison term next month, but his wife, Rosemary Martoma, is now challenging the $9.4 million forfeiture order. This week Rosemary Martoma asked the court to […]

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Don’t Forge Documents You Give to SEC Investigators

You’re bound to make a mistake. Don’t make the mistake even worse by faking a document you submit to the Securities and Exchange Commission in order to cover your original mistake. Back in 2012, the SEC brought charges against Waldyr Da Silva Prado Neto, a citizen of Brazil who was working for Wells Fargo in […]

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Can an ATM Machine Be a Security?

Nationwide Automated Systems offers turnkey ATM solutions. A turnkey ATM program addresses the need for ATM service, repair, system monitoring, and cash replenishment. Typically the ATM provide will split some of the fee income with the property owner where the ATM is located rather than pay a fixed rent. To raise capital Nationwide create a […]

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