These are some of the compliance-related stories that recently caught my attention.
NoDoz: Early Birds Needed to Work at SEC by Bruce Carton in Compliance Week
What impact will White will have on the SEC? For one thing, it appears that those at the agency who work closely with the chairman will need to set their alarm clocks to go off quite a bit earlier. White is known to be a tireless, “24/7” worker who often sends detailed emails to her colleagues at 3 a.m.
You Might Be Surprised By Who Counts (And Who Doesn’t) In California by Keith Paul Bishop in California Corporate and Securities Law
Many issuers continue to rely on California’s limited offering exemption to avoid the necessity of qualifying the offer and sale of their securities. The exemption, found in Corporations Code Section 25102(f), requires that sales be made to not more than 35 persons. Thus, it is important to know who counts and who doesn’t.
The Telltale Signs of Corporate Fraud by Stephen J. Dubner in Freakonomics
A new working paper (abstract; PDF) by Tanja Artiga Gonzalez, Markus Schmid, and David Yermack looks for the telltale signs of corporate fraud. The paper is called “Smokescreen: How Managers Behave When They Have Something To Hide”:
SEC Issues Guidance Update on Social Media Filings by Investment Companies
The Securities and Exchange Commission today published a guidance update from its staff to clarify the obligations of mutual funds and other investment companies to seek review of materials posted on their social media sites.