Compliance Bits and Pieces for December 2

Here are some recent compliance-related stories that caught my attention.

The Enron cast: Where are they now? by Richard Partington in Financial News

The leading characters in the Enron saga have had varied fortunes since the disgraced trading giant collapsed into Chapter 11 bankruptcy a decade ago this week. A few went to prison, a couple have since died, while another employee went on to become a hugely successful billionaire trader. Financial News has ploughed through newspaper reports, personal and company websites and – where possible – contacted those involved to see where they are all now.

SEC Examines Internal Watchdog’s Interview By Robert Schmidt and Joshua Gallu in Bloomberg

The U.S. Securities and Exchange Commission’s internal watchdog has come under scrutiny for comments he made in a 75-minute videotaped interview about the agency and the stock market to a man who markets a “crash-proof retirement” plan through the Internet and a paid radio program. SEC Inspector General H. David Kotz has been contacted about the matter by the agency’s general counsel’s office, which also has briefed the SEC’s commissioners over concerns the interview could be construed as investment advice or an endorsement of financial services, according to two people briefed on the situation.

For Wall Street Watchdog, All Grunt Work, Little Glory by Ben Protess in DealBook

In an office park 20 miles outside Washington, the Financial Industry Regulatory Authority, Wall Street’s nonprofit self-regulator, has quietly built a small army of market police. Since Wall Street’s financial crisis in 2008, this fledgling fraud task force has entered the front lines of fighting insider trading, even if the group rarely earns the credit. Finra’s fraud group is akin to being the sous chef to the S.E.C. and other government regulators: the team prepares evidence against America’s most-wanted traders, but receives little of the glory when the cases are served.

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