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U.S. Court of Appeals denies constitutional challenge in SEC administrative court case
trueA constitutional challenge to the Securities and Exchange Commission’s use of administrative proceedings in enforcement cases was rebuffed Monday by a three-judge panel in the 7th U.S. Circuit Court of Appeals in Chicago.
Important questions to ask current providers, in RFPs
trueDefined contribution plan executives must ask many questions of service providers about the scope of their cybersecurity policies and practices. The questions should be asked not only of current providers but also when issuing RFPs, according to 401khelpcenter.com.
Citigroup Global Markets settles with SEC over trading review issues
trueCitigroup Global Markets agreed to pay $15 million to settle SEC charges that it failed to adequately review thousands of securities transactions by several of its trading desks over 10 years.
ETF providers step up to defend the status quo
trueThe Securities and Exchange Commission's solicitation of perspectives on the state of exchange-traded products produced a fruitful, if predictable, bounty of views from the asset management industry.
BNY Mellon to pay $14.8 million to settle SEC anti-bribery case
trueBank of New York Mellon Corp. will pay $14.8 million to settle SEC claims that it broke anti-bribery laws in awarding internships to family members of officials with ties to a Middle Eastern sovereign wealth fund.
Judge rules SEC administrative proceeding is likely unconstitutional
trueThe Securities and Exchange Commission must stop an administrative enforcement proceeding because its appointment of judges hearing such cases is likely unconstitutional, U.S. District Judge Richard Berman ruled in New York on Wednesday.
ITG settles with SEC over misuse of confidential trading information
trueInvestment Technology Group agreed to pay $20.3 million to settle SEC charges that the dark-pool operator misused confidential trading information of its subscribers in a secret trading desk.
SEC told to proceed cautiously on manager disclosure proposal
trueAn SEC proposal to require money managers to submit additional information about separately managed account clients should proceed carefully, said several letters filed Tuesday.
SEC to continue administrative proceedings; inspector general doesn't find bias
trueThe SEC's inspector general has not found evidence to support allegations of bias in the agency's administrative proceedings, but will continue its investigation, said an interim report.
Guggenheim Partners reaches $20 million SEC settlement
trueGuggenheim Partners Investment Management agreed to pay $20 million to settle charges of failing to disclose a $50 million loan to a senior executive from an advisory client.
Experts fear rise in trading costs will follow onset of Volcker rule
trueThe implementation of the Volcker rule last month is expected to accelerate the trend among institutional money managers to break up their block trades in fixed income, causing concern that the potential for information leakage and execution delays could increase, driving up trading costs.
Government agencies turning up the heat on fees
trueThe pressure on private equity and hedge fund firms to disclose more about what investors pay them continues to build from Washington regulators questioning long-held traditions.
SEC proposes registration rules for swaps dealers, participants
trueThe SEC on Wednesday recommended establishing registration rules for security-based swaps dealers and major swap participants that also would allow those that are subject to enforcement actions to appeal penalties that ban them from swaps activity.
Judge's ruling another setback for SEC's administrative proceedings
trueGray Financial Group won a preliminary injunction Wednesday stopping a Securities and Exchange Commission administrative proceeding in a federal court ruling addressing the larger question of whether such proceedings are constitutional.
SEC approves CEO pay ratio rule
truePublic companies must disclose the ratio of CEO pay to median employee pay under a rule adopted Wednesday by the Securities and Exchange Commission.