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The Securities Exchange Commission (SEC) adopted two new rules on June 7 aimed at preventing fraud and manipulation specific to security-based swap (SBS) transactions and the entities that trade...
The SEC adopted two new rules on June 7 aimed at preventing fraud and manipulation specific to security-based swap transactions and the entities that trade them, including a unique rule preventing undue influence over chief compliance officers.
The issue of chief compliance officer (CCO) liability has long been debated; it has become a grave concern for CCOs, CEOs, and other C-suite executives who put on “too many hats” within...
Joel R. Levin, Director Of Chicago Regional Office, To Leave SEC Date 16/04/2021 The Securities and Exchange Commission today announced that Joel R. Levin, the Director of its Chicago Regional Office, will leave the agency at the end of May. Mr. Levin has served as Director of the Chicago office since May 2018, overseeing the agency’s second-largest regional office of more than 260 attorneys, accountants, investigators, securities compliance examiners and other personnel involved in the investigation and prosecution of enforcement actions and the performance of compliance examinations....
SEC Enforcement and Exams Likely to Focus More on Private Funds in the New Administration For the next several weeks and months, intense focus will be trained on determining the priorities of the Biden administration. We believe that at the Securities and Exchange Commission (“SEC”), the new administration will ramp up examinations and investigations of investment advisers, and specifically advisers to private funds. The industry has certainly been in growth mode. By the SEC’s own calculations, the number of private funds increased by nearly one third during the past four years (from 26...