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Chaos in Commissioner Confirmation

I thought the picks for Securities and Exchange Commissioner would fly through the confirmation process. I was clearly wrong and Congress is even more dysfunctional than I thought. The SEC is now down to just three members after two left the agency late last year. President Obama nominated Lisa Fairfax, a Democrat, and Hester Peirce, […]

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The SEC’s New Office of Risk and Strategy

Whenever the Securities and Exchange Commission reorganizes you have to wonder what the impact will be on those subject to regulation by the SEC. Earlier, the SEC announced a new Office of Risk and Strategy within the Office of Compliance Inspections and Examination. “The Office of Risk and Strategy will lead our exam program’s risk-based, […]

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Another Potential Reason for Companies Not to Go Public

Cybersecurity is a real threat and needs to be taken seriously. But is it a Board of Directors level issue for all public companies? I don’t think so. But apparently Senators Jack Reed and Susan Collins think that is. That would mean another headache for public companies. Of course there may be some companies that […]

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Boston Skyline - Pink Panoramic

Are There Real Estate Fund Enforcement Cases Coming From the SEC?

Eighteen months ago, Andrew Bowden gave his Sunshine speech on the SEC’s disapproval of private equity fee compliance. Now, enforcement cases are being finalized on private equity fees. The SEC is just now finishing a focus on real estate funds. Should we be looking for real estate fund enforcement cases on the horizon? While listening […]

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fairfax and peirce

The Female SEC Will be Taking on the Old Boys’ Club of Wall Street

President Obama nominated Lisa Fairfax and and Hester Peirce to fill the two vacant positions on the Securities and Exchange Commission. They will join May Jo White and Kara Stein. That leaves Michael Piwowar alone with his Y-Chromosome. Fairfax is a law professor and director for programs at George Washington’s Center for Law, Economics and […]

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fortune tell secret crystal ball

What Does the Future Hold for the Regulation of Private Equity Funds?

The Chair of the Securities and Exchange Commission offered a sneak peak of upcoming regulations. Mary Jo White was speaking at the 75th Anniversary Celebration: Investment Company and Investment Advisers Acts and offered a few tidbits. Chair White spoke about the history of the Acts and offered a glimpse into the future: Today, as many […]

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New SEC Rulemaking Database

Strong rulemaking is central to the mission of the Securities and Exchange Commission. Transparency to the process is important so the affected parties can provide input and see changes coming. To help with mission and to improve transparency, the SEC launched a new database intended to provide better transparency. I applaud any effort the SEC […]

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home court

The SEC Tries to Change Its Home-Court Advantage

There has been much written about the problems with the Securities and Exchange Commission adjudicating cases in its own administrative law courts.  The SEC launched a proposal to change the rules for the SEC’s administrative proceedings to adjust the tilt of the home-court advantage. It’s clearly a move to limit the problems with the use […]

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risk alert

ReTIRE Initiative

The SEC said it would focus on matters relating to retail investors saving for retirement and the SEC followed through with the new exam focus: the ReTIRE Initiative. We’ve seen this coming. The National Exam 2015 priorities list stated that OCIE will focus on how retail investors at or nearing retirement are being served by […]

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The SEC Goes After the Gate Keeper

When a fraud is uncovered, the Securities and Exchange Commission no only wants to get the fraudsters, it also wants to get those who should have stopped the fraud. The SEC just brought an action against an IRA Custodian for ignoring red flags for its accounts that invested in Ponzi schemes. The underlying fraud was […]

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