Archive | October, 2009

Happy Halloween!

Image is by 3268zauber: Kürbis Fratze.jpg licensed under the Creative Commons Attribution ShareAlike 3.0

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Compliance Bits and Pieces

Here are some interesting compliance stories that have not made their into their own posts: Canada’s Commitment to Combating the Corruption of Foreign Public Officials: Watching Bill C-31 from the Wrageblog Bill C-31, An Act to amend the Criminal Code, the Corruption of Foreign Public Officials Act and the Identification of Criminals Act, was introduced […]

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Insider Trading Debates

Insider trading is back in the news. The SEC has shown heightened interest in prosecuting these cases, evidenced by the high-profile arrest of Galleon hedge fund manager, Raj Rajaratnam, on civil and criminal charges. One thing to keep in mind is that insider trading is not defined in the federal securities laws. The SEC has […]

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Amendments to the Private Fund Investment Advisers Registration Act

Enacting legislation is often compared to making sausage. I don’t think that the Private Fund Investment Advisers Registration Act is exception. I spent some time watching the House Financial Services Committee hearing on passing the Private Fund Investment Advisers Registration Act. There were 13 proposed amendments, 8 of which were agreed to by the Committee. […]

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Windex and Compliance

People are more fair and more generous when they are in clean-smelling environments, according to a soon-to-be published study: The Smell of Virtue. The experiment had participants engage in several tasks, the only difference being that some worked in unscented rooms, while others worked in rooms freshly spritzed with citrus-scented Windex. The first experiment was […]

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Private Fund Investment Advisers Registration Act is Passed by House Committee

The House Financial Services Committee passed H.R. 3818, the Private Fund Investment Advisers Registration Act, introduced by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. The Committee passed H.R. 3818 by a vote of 67-1. The press release summarizes the bill as “Everyone […]

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Accidental Securities Underwriter

So you made almost $1 million on selling penny stocks through the pink sheets on $75,000. Nice pay day. Then the SEC makes you give it all back. This is the sad tale of Rodney Schoemann, a professional stock market trader. Schoemann had previous purchased some restricted shares in Stinger Systems, Inc. that were marked […]

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How to Read a Privacy Policy

The Common Data Project surveyed the online privacy policies of the largest internet companies. Their conclusion: We realize that most users of online services have not and never will read the privacy policies so carefully crafted by teams of lawyers at Google and Microsoft. And having read all of these documents (many times over), we’re […]

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More than 100 Banks Have Failed in 2009

Bank closures are usually symptomatic of the economy. Last Thursday, the number of banks subject to FDIC closure stood at 99. Since FDIC take-overs are usually Friday afternoon, the question was “Would the FDIC would reach one hundred this weekend?” They smashed through the century mark, closing seven banks over the weekend: First DuPage Bank, […]

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Who Knows What?

A nice piece in Monday’s Wall Street Journal on knowledge management: Who Knows What? Finding in-house experts isn’t easy. But most companies make it harder than it should be. The article, by  Dorit Nevo, Izak Benbasat and Yair Wand, explores the expertise location benefits of enterprise 2.0. The authors describe the use of blogs, wikis, social […]

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