SEC Makes Sarbanes-Oxley Compliance A Little Easier
In a move that will put a smile on the faces of large and small financial services firms, the U.S. Securities and Exchange Commission (SEC), has approved guidelines that will make it easier - and less costly - to comply with the Sarbanes-Oxley Act.
Meanwhile, the PCAOB body that oversees auditors, has voted on changes to audit rules too.
SIFMA Chief Lackritz Testifies Before Senate
Marc Lackritz, CEO of the Securities Industry and Financial Markets Association, and the voice of the U.S. broker-dealer community, testified last week in front of the Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investments. In his testimony, Lackritz reaffirm
SEC Imposter Alert
Not only do companies have to worry about stolen laptops, rogue employees and hackers -- now they also have to worry about fake SEC examiners.
SEC Regs Too Much? Try Trading in 103 Foreign Countries
With full implementation of Reg NMS just around the corner and MIFID looming in Europe, broker dealers on both sides of the Atlantic are busy navigating new regulations. But what are the regulatory implications for a broker dealer who executes deals with countries around the world?
New York-based securities firm Auerbach Grayson provides trade and post-execution services in 103 countries, representing more than 250 equity and equity derivatives
Cuomo Wins Big on Data Privacy
New York's Attorney General Andrew Cuomo last week obtained the first settlement in court under the state's data breach notification legislation. While the punishment of the exposed company, Chicago-based claims management firm CS Stars, LLC, was relatively light, the development opens up new legal vulnerabilities fo
Keep An Eye On Your Outsourcers
One message that rang out loud and clear from some of the compliance discussions today at the SIFMA show was: broker-dealers take outsourcing lightly at their peril. Broker-dealers retain regulatory responsibility for the functions they outsource. One of the regulators scrutinizing securities' firms outsourcing relationships is the NYSE. "There's been controversy over the rule we proposed [NYSE Rule 340]," said Grace Vogel, executive vice president, member firm regulation at NYSE Regulat