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Archive | July, 2011
Compliance Bits and Pieces for July 29
These are some compliance-related stories that recently caught my attention. Backyard Hens: A Trend Coming Home to Roost? by James McWilliams in Freakonomics These anecdotes remind us that, when it comes to the safety of chicken eggs, what matters is not so much the setting in which the birds are raised (factory or backyard), but [...]
Twitter Fail and Compliance
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 [...]
Soros Doesn’t Want Your Money
In one of the most visible moves as a result of the new SEC regulations on investment advisers, George Soros is closing his $25 billion Quantum Endowment Fund to outside investors and returning their money. Why? “We have relied until now on other exemptions from registration which allowed outside shareholders whose interests aligned with those [...]
The SEC, “Spousal Equivalents” and the Family Office
The SEC now recognizes “spousal equivalents” defined as “cohabitants occupying a relationship generally equivalent to that of a spouse.” Before wondering if the federal government is making big strides, keep in mind that this recognition is limited to the new Family Office Rule (.pdf). Dodd-Frank created a new exemption for Family Offices. Previously they typically [...]
Compliance Lessons from the Tour de France
I would guess that most of you reading this story do not share my love of the Tour de France. It can be a confusing mix of skinny guys, tarted up with sponsors like a NASCAR racer, with hard to pronounce names, following tactics unusual outside of cycling. But I since I became a fan [...]
Compliance Bits and Pieces for July 22
These are some recent compliance-related stories that caught my attention. The Gold Boom, Then and Now by Jacob Goldstein in Planet Money [o]n Jan. 21, 1980, gold hit what is still its all-time high in inflation-adjusted dollars. To match that high in today’s dollars, gold prices would have to rise by another 50 percent, to [...]
Happy Birthday Dodd-Frank!
This happened one year ago: Since then, it’s been a whirlwind of regulatory production. It was a huge bill. (My copy goes on for 848 pages.) The Regulations it requires are many times more massive that the bill itself. We will experience the repercussions for years. So we may as well keep count. Dodd-Frank Wall [...]
Private Equity Exemption Bill Moves Ahead
The Small Business Capital Access and Job Preservation Act, H.R. 1082, took another step forward this week when it was approved by the House Committee on Financial Services. It still has a long way to go before coming law so this is no time to stop getting your compliance infrastructure in place. The bill still [...]
Who Caught Them? Compliance or the SEC?
The SEC announced they had obtained an emergency freeze against three Swiss-based traders under an allegation of insider trading. The SEC claims that Compania International Financiera S.A., Coudree Capital Gestion S.A., and Chartwell Asset Management Services purchased more than a million common shares of Arch Chemicals just prior to the announcement that it was going [...]
