Financial Regulatory Forum

Lessons learned: BHP Billiton fined for providing public officials luxury travel

By Guest Contributor
June 3, 2015

By Julie DiMauro, Regulatory Intelligence

NEW YORK, June 3, 2015 (Thomson Reuters Regulatory Intelligence) - The Securities and Exchange Commission on Wednesday charged global resources company BHP Billiton with violating the Foreign Corrupt Practices Act (FCPA) when it sponsored foreign government officials as guests at the 2008 Summer Olympics in Beijing.

Finance, legal professionals question impact of OSC Whistleblower Program on ‘culture of compliance’

By Guest Contributor
June 2, 2015

By Helen Chan, Compliance Complete

TORONTO, June 2, 2015 (Thomson Reuters Accelus) - The Ontario Securities Commission (OSC) recently closed the consultation period on its proposed whistleblower program, but debate over the draft rules appears to be far from over. Finance and legal professionals have raised concerns over the program, particularly the absence of requiring eligible whistleblowers to report misconduct to internal compliance personnel prior to approaching the OSC.
Modeled after the Dodd-Frank Whistleblower Program, the OSC’s Whistleblower Program seeks to encourage individuals with information of financial misconduct at their firms to come forward. (more…)

Former U.S. CFTC chair criticizes Volcker call to merge agency with SEC

By emmanuelolaoye
May 20, 2015

A former head of the Commodity Futures Trading Commission has questioned Paul Volcker’s call to merge U.S. regulatory agencies under the leadership of the Federal Reserve.

SEC faces challenges before fast-trading reforms can go on the books

By Guest Contributor
June 13, 2014

By Emmanuel Olaoye, Compliance Complete

The Securities and Exchange Commission has rolled out its intentions to regulate high-frequency trading, making stricter regulation in some form a strong possibility, but the agency faces more work and some challenging obstacles before it can put new rules in the books.

Expect corruption crackdown to widen, intensify

By Guest Contributor
April 15, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, Apr. 15, 2014 (Thomson Reuters Accelus) – Companies and financial firms that are potentially subject to the Foreign Corrupt Practices Act and other anti-corruption regimes should expect more of the enforcement crackdown they have seen in recent years, except in greater quantity and intensity, two former U.S. government officials said last week.

The JOBS Act at age two – prodigy or enfant terrible?

By Guest Contributor
April 3, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, Apr. 3, 2014 (Thomson Reuters Accelus) - The financial services industry is still getting used to the two-year old JOBS Act, as funds gingerly begin to explore new general-solicitation freedoms and “crowdfunding” venues sort through the rules, speakers said at a Fordham Law School forum in New York.

Book by high-profile author Lewis may spur high-frequency-trading reform push, success unclear

By Guest Contributor
April 2, 2014

By Emmanuel Olaoye, Compliance Complete

WASHINGTON/NEW YORK, Apr. 2, 2014 (Thomson Reuters Accelus) - During a clip on Sunday night’s “60 Minutes” program, host Steve Kroft asked bestselling author Michael Lewis why he was so opposed to high frequency trading.

“Big data” tools will improve regulatory oversight, FINRA’s di Florio says

By Guest Contributor
February 25, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, Feb. 25 (Thomson Reuters Accelus) - The Financial Industry Regulatory Authority is developing a suite of “big data” information sources and analytics to improve regulatory oversight of securities firms, according to Carlo di Florio, FINRA’s chief risk officer and head of strategy.

U.S. SEC releases 2014 exam priorities; exchanges, retirement in focus

By Guest Contributor
January 15, 2014

By Nick Paraskeva, for Compliance Complete

NEW YORK, Jan. 15 (Thomson Reuters Accelus) – The U.S. Securities and Exchange Commission on Thursday published the 2014 priorities for its national examination program (NEP). Prominent among the priorities were scrutiny of “perceived control weakness” at financial exchanges and oversight of retirement investments.

Groups urge Congress to let SEC charge fees for adviser exams

By Guest Contributor
December 13, 2013

By Emmanuel Olaoye, Compliance Complete

WASHINGTON, Dec. 13 (Thomson Reuters Accelus) - A coalition of groups representing investment advisers and state regulators has asked Congress to support a bill that would let the U.S. Securities and Exchange Commission to charge investment advisers an annual “user fee” for its exams.