Journal of Investment Compliance: Volume 14 Issue 2

Summary of selected sessions from “The SEC Speaks in 2013”

Brian L. Rubin, Carmen L. Brun, Jaliya Stewart Faulkner, Michael K. Freedman, Kurt Lentz, Jae C. Yoon

The purpose of this paper us to summarize the remarks of the Commissioners and participants in several panel sessions and workshops during the 2013 annual “SEC Speaks” conference…

Pay to play: recent SEC actions highlight importance of compliance controls

Edward Pittman, Brenden Carroll, Sean Murphy

The purpose of this paper is to explain two recent actions by the US Securities and Exchange Commission (SEC), a “Settlement Order” and a National Examination Risk Alert, that…

SEC lifts moratorium on actively managed ETFs' use of derivatives; moratorium continues for leveraged ETFs

Kurt Decko, Stacy Fuller

The purpose of this paper is to explain the announcement and no‐action letter of December 11, 2012 from the Securities and Exchange Commission (“SEC”) Division of Investment…

Portfolio margining of cleared credit default swaps

Michael M. Philipp, Ignacio A. Sandoval

The purpose of this paper is to describe the separate but related relief issued by the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC…

The NYSE and NASDAQ issue proposed rules to implement the SEC compensation committee independence and advisor rules

Doreen Lilienfeld, John Cannon, Amy Gitlitz Bennett, George Spera

The purpose of this paper is to explain the amendments to the listing standards of the New York Stock Exchange (NYSE) and the NASDAQ Stock Market (Nasdaq), which were approved by…

The extra‐territorial reach of the broker‐dealer registration requirements under the US Securities Exchange Act of 1934: the staff of the Securities and Exchange Commission addresses frequently asked questions regarding Rule 15a‐6 and foreign broker‐dealers

Edward Eisert, Tony Katz, Giovanni Carotenuto, Melanie F. Ball

The purpose of this paper is to summarize the significant responses of the staff of the SEC to 16 frequently asked questions (FAQs) which supplement prior guidance on Rule 15a‐6…

EMIR: an overview of the new framework

Tim Aron, Nathaniel Lalone, Carolyn Jackson

The purpose of this paper is to explain the European Market Infrastructure Regulation, known as EMIR, adopted on July 4, 2012 as the Regulation on OTC Derivatives, Central…

The proposed EU Financial Transaction Tax

Neil Macleod, Robert Gaut

The purpose of this paper is to explain the background, scope, applications, criticisms, and UK legal challenge of the European Union's Financial Transaction Tax (FTT).

Selected FINRA notices and disciplinary actions, September 2012‐April 2013

Henry A. Davis

The purpose of this paper is to provide selected Financial Industry Regulatory Authority (FINRA) Regulatory Notices and Disciplinary Actions issued in June, July, and August 2012.

Editor’s letter

Henry A. Davis