A venture capital fund adviser settled SEC charges for miscalculations that resulted in the payment of excessive management fees to two funds.
News & Insights
In a Risk Alert, the SEC Division of Examinations identified common compliance deficiencies related to supervision, disclosure, billing and calculation of advisory fees.
SEC Chair Jay Clayton and SEC Division of Trading and Markets Director Brett Redfearn reviewed agency efforts to improve equity market structure.
A former financial services executive pleaded guilty to DOJ antitrust charges, admitting to a bid-rigging conspiracy to borrow pre-release American Depository Receipts.
FINRA Regulatory Notice 11-08 February 10, 2011 As part of the process of developing a consolidated rulebook, FINRA is requesting comments on new rules to govern markups, markdowns, commissions and fees. New FINRA Rules 2121-23 would transfer, with "significant changes," NASD Rules 2430 and 2440, NASD IM-2440-1 and -2, and NYSE Rule 375. Among other things, the new rules would make the following changes: (1) Deletion of the "5% Policy." FINRA notes that the policy is outdated, as 5% is frequently an excessively high markup or markdown. Rather than propose a new percentage, FINRA sets forth a