Author: Doug Cornelius

The SEC Administrative Law Judges Are Heading to the Supreme Court

The use of administrative law judges by the Securities and Exchange Commission has been strained since the jurisdiction was expanded under Dodd-Frank. There have been a series of cases challenging the ALJs under the the Appointments Clause of the Constitution. The problem was that the judges were appointed by an internal panel instead of by the

Full Speed Ahead for the SEC

Commissioners Hester M. Peirce and Robert J. Jackson, Jr. are, According to Jay Clayton’s math the 96th and 97th Commissioners of the Securities and Exchange Commission after being sworn in last week. It’s been two years since the SEC has been at full strength. Perhaps this means that rule-making will proceed ahead. Based on the

Compliance Bricks and Mortar for January 12

These are some of the compliance-related stories that recently caught my attention. Five Things to Think About Before a Surprise SEC Exam by Joshua M. Newville, Robert E. Plaze, Christopher Wells and Alexandra V. Bargoot If a team from the SEC arrives at your office and says, “We are conducting an on-site examination and would

The 7-11 Compliance Conondrum

Immigration and citizenship employee compliance requirements are fairly straightforward, although awkward. You can’t usually ask whether or not a job applicant is a United States citizen before making an offer of employment. But you do need to verify the identity and employment eligibility of all employees, by completing the Employment Eligibility Verification (I-9) Form, and

Compliance Bricks and Mortar – Blizzard Edition

I’ve just come inside after digging out from yesterday’s blizzard. These are some of the compliance-related stories I’m going to read by the fire. Is Bitcoin Really in a Bubble? in Knowledge@Wharton [T]he cryptocurrency community is divided on whether bitcoin is a “side show or the show.” However, he believes that the “fundamental breakthrough is

Start Your Compliance Year Right

After a long weekend, and perhaps a vacation, compliance professionals are coming back into the office with 2018 on the calendar. It’s a clean slate. The possibilities are endless. Where to start? I don’t have the answer. There is so much to get done and so many challenges ahead. No organization has has the same

Compliance Bricks and Mortar for December 22

These are some of the compliance stories that recently caught my attention. American Law Enforcement’s Focus on Cooperation and Self-Reporting by Lee S. Richards More recently, law enforcement officials, anxious to improve the effectiveness of their programs, have placed even greater emphasis on the need for companies to rush in to disclose problems they have

More Political Contribution Problems

There is too much money in a politics. I understand the Securities and Exchange Commission’s desire to purge political contributions from the investment adviser business for state and local government money. But I’ve never been a fan of Rule 206(4)-5, the pay-to-play rule. It’s continuing to ensnare companies in ways that highlight problems with the rule

SEC’s Regulatory Agenda

A few months ago, Securities and Exchange Commission Chairman Jay Clayton stated that the SEC had been hard at work on developing its rule-making agenda for the upcoming year. In the coming weeks and months, I expect the SEC’s near-term rulemaking objectives to be fully reflected in our upcoming Regulatory Flexibility Act Agenda. As a