The U.S. Supreme Court has unanimously ruled that the SEC must rein in its disgorgement policy and apply a new, five-year statute of limitations upon its efforts to retrieve restitution for alleged ill-gotten gains. The disgorgement process is the repayment of money allegedly obtained via illegal activity. In cases large and small, the SEC has… Read More >>
Four Arrested in Medicare Info Insider Trading Scheme
The SEC has reported civil charges — and the U.S. Department of Justice (DOJ) has filed criminal charges — in an alleged insider trading scheme involving “tips of nonpublic information about government plans to cut Medicare reimbursement rates, which affected the stock prices of certain publicly traded medical providers or suppliers.” The four alleged participants… Read More >>
Whistleblowers May Survive Trump’s Regulatory Overhaul
While the Trump Team is clearly trying to change the dynamics of key regulators such as the SEC and CFTC, one popular and successful service — support for whistleblowers — may be staying pretty much the same. In fact, it appears the CFTC may be strengthening its support of its whistleblowers program, which is a… Read More >>
Actiance & Hootsuite Sign Social Media Compliance Pact
Vendors to Target Global Compliance for Social Media Actiance, a digital compliance, archiving, and analytics vendor, has signed a global partnership with Hootsuite, a social media management platform provider, to offer a comprehensive compliance solution for financial services firms. The partnership will combine Hootsuite’s platform with Actiance’s Socialite offering for compliance across public social… Read More >>
Schroders Hires from UBS Wealth Management
Schroders Creates Head of Global Sales Position Global asset manager Schroders has appointed Daniel Imhof head of global sales, a newly created position. This new post “reflects the increasing complexity of clients’ needs and their requirement for specialist knowledge,” Schroders says in a statement. Imhof, who will be based in London, will report to John… Read More >>
Ex-Nomura Traders Charged with Lying to Customers
The SEC has charged a pair of former head traders at Nomura Securities International with “deliberately lying to customers” to inflate the profits of the commercial mortgage-backed securities (CMBS) desk in New York and allegedly line their own pockets. The SEC alleges that James Im and Kee Chan, who ran the CMBS desk, “each misrepresented… Read More >>
How Harmful is Knee-Jerk Deregulation?
(Editor’s note: David Bailey, group head of marketing and communications, Augentius, spoke to FTF News about the need for transparency among the general partners, limited partners and regulators, particularly as the CHOICE Act bill, a Republican alternative to the Dodd-Frank Act, is proposing cut the SEC registration requirement for private equity investment advisers. The private… Read More >>
Torstone Hires from FIS, Broadridge for European Foray
Torstone Reports More Demand in Europe Torstone Technology, a provider of post-trade securities and derivatives processing, reports the appointment of Paul Phillips as head of European sales and Paul Mundy as product manager, both based at the firm’s London headquarters. These appointments are a response to “increased demand among Torstone’s client base who are required… Read More >>
Former SEC Accountant Hit with Fraud Charges
SEC officials report that they have charged David R. Humphrey, a former commission employee, with securities fraud in connection with his trading of options and other securities. At the SEC, Humphrey, a certified public accountant, was employed as a staff accountant. Later, he became branch chief in the SEC division of corporation finance. Humphrey, who… Read More >>
CFTC, SEC Greenlight New Hires
With a growth agenda in mind, the Trump White House is moving to fill vacancies at the CFTC and SEC, left open since the end of the Obama administration. At the CFTC, White House officials announced that former fund manager Brian D. Quintenz of Ohio has been nominated a second time to be a CFTC… Read More >>