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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
SEC Enforcement: A Banner Year
SEC Enforcement co-directors Stephanie Avakian and Steven Peikin proclaimed fiscal year 2017 a rousing SUCCESS! If you don’t believe it, just look at the numbers (for year ended September 30, 2017):
- The SEC brought 754 enforcement actions in FY 2017.
► The SEC brought 868 enforcement actions in FY 2016.
- The SEC brought 446 standalone actions in FY 2017.
► The SEC brought 548 standalone actions in FY 2016.
- The SEC raised $3.8Bn in penalties and disgorgement in FY 2017.
► The SEC raised $4.1Bn in penalties and disgorgement in FY 2016.
- The top 5% largest cases accounted for $2.6Bn in penalties and disgorgement in FY 2017.
► The top 5% largest cases accounted for $2.8Bn in penalties and disgorgement in FY 2016.
- The SEC brought 135 standalone actions against RIAs, RICs, and B/Ds in FY 2017.
► The SEC brought 159 standalone actions against RIAs, RICs, and B/Ds in FY 2016.
- The largest penalty issued against a financial institution was $90Mn in FY 2017 (Credit Suisse).
► The largest penalty issued against a financial institution was $358Mn in FY 2016 (Merrill Lynch).
- The SEC distributed $1.1Bn to harmed investors in FY 2017.
► The SEC distributed $140Mn to harmed investors in FY 2017.
Oh well, perhaps their assessment was overly optimistic by a tad. Maybe I'll just recheck those numbers in the Division of Enforcement's Annual Report.