All SEC articles – Page 62
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Blog
SEC charges BGC Financial for failure to maintain accurate books and records
New York-based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel, entertainment, and other expenses.
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Charles Schwab settles with SEC for failing to file SARs
Charles Schwab on July 2 agreed to pay the Securities and Exchange Commission a civil penalty of $2.8 million for failing to file suspicious activity reports on questionable transactions by its investment advisers.
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New standard triples revenue disclosures, Deloitte finds
Public companies are roughly tripling their revenue-related disclosures to comply with the new revenue recognition standard, according to a new analysis.
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IOSCO proposal seeks to set practices for audit committees
International regulators are developing a broad proposal to call for improvements in audit committee oversight of external auditors.
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DoJ launches new task force on Market Integrity and Consumer Fraud
The Justice Department, empowered by an executive order by President Trump, is creating a new, multi-agency task force on Market Integrity and Consumer Fraud. The plan was detailed, on Wednesday, in public remarks by Deputy Attorney General Rod Rosenstein.
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SEC requires shift to integrated XBRL filing
A new requirement for companies to adopt some new XBRL technology will produce different levels of compliance burden depending on how companies are complying now.
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SEC expands application of scaled disclosures
The SEC has extended its “smaller reporting company” definition to expand the number of companies that qualify for scaled disclosure accommodations.
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Beam Suntory to pay $8M in FCPA case
Beam Suntory subsidiary Beam India was charged by the SEC with making improper payments to various government officials to obtain or retain business in the Indian market. Beam was fined $8M, but neither admitted nor denied the the allegations.
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SEC unveils ideas for updating whistleblower program
In an effort to improve its whistleblower program and adapt it to recent Supreme Court demands, the SEC has proposed a slate of amendments to the rules that govern the initiative.
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SEC requires companies to move filings to inline XBRL
The SEC will require companies to integrate their XBRL and static financial statement data into a single filing beginning in 2019 for the largest entities.
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Article
SCOTUS delivers a constitutional blow to SEC’s ALJ process
The perpetually maligned use of administrative law judges at the SEC faces big changes after the Supreme Court, led by Justice Elena Kagan, agreed with constitutional challenges.
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SEC details strategic initiatives through 2020
The SEC has published a new plan that details its strategic priorities through Fiscal Year 2022.On the list: improved technology and data analysis and a focus on retail investors.
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SEC: Merrill Lynch to pay $42M for misleading customers
The Securities and Exchange Commission on June 19 announced charges against Merrill Lynch for misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million civil penalty.
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For early revenue adopters, SEC digs into year-end disclosure
SEC staff are showing an interest in some specific disclosures companies are providing under the new revenue standard, based on themes emerging in comment letters.
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SAB 74 disclosures still lag, PwC analysis shows
Investors are not getting much warning about assets and liabilities soon to hit corporate balance sheets as companies prepare to adopt new lease accounting rules.
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Merrill Lynch to pay $15M for failure to supervise RMBS traders
The SEC announced on June 12 that Merrill Lynch will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential Mortgage Backed Securities.
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SEC, CFTC make their case for more funding, boosting cyber-security
Requesting increased funding for Fiscal Year 2019 before a Senate committee, the heads of the SEC and CFTC touted the need to ramp up their internal cyber-security efforts and external supervision and enforcement of breaches.
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SEC allows shift from paper fund reports
The SEC voted unanimously Tuesday on initiatives to improve the experience of those who invest in mutual funds, ETFs and other investment funds.
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Big 4 firms audit fewer companies, analysis shows
Big 4 firms are performing fewer public company audits as the number of public companies continues to decline, according to Audit Analytics.
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SEC charges Goldman Sachs VP in insider trading scheme
The SEC on May 31 charged a Goldman Sachs vice president of investment banking with repeatedly using his access to highly confidential information to place illicit and profitable trades in advance of deals on which the bank was providing investment banking advisory services.