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On December 20, 2018, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) announced its 2019 examination priorities. OCIE publishes its exam priorities annually to promote transparency of its examination program and provide insights into the areas it believes present potentially heightened risk to investors or the integrity of the U.S. capital markets. […]
On December 7, 2018, the Financial Industry Regulatory Authority (“FINRA”) issued a comprehensive report (“Report on FINRA Examination Findings”) which “focuses on selected observations from recent examinations that FINRA considers worth highlighting because of their potential significance, frequency, and impact on investors and the markets.” Among the issues discussed in this report were significant concerns […]
In 2008, in the aftermath of the financial crisis, the Federal Reserve began its “quantitative easing” program, a determined effort to lift the economy by lowering the cost of borrowing. It bought up trillions of dollars in Treasury and other debt securities, effectively reducing long-term interest rates. Debt issuance exploded. In the last decade, the amount of corporate […]
On December 7, 2018, the Financial Industry Regulatory Authority (“FINRA”) issued a comprehensive report (“Report on FINRA Examination Findings”) which “focuses on selected observations from recent examinations that FINRA considers worth highlighting because of their potential significance, frequency, and impact on investors and the markets.” Among the issues discussed in this report were significant concerns […]
Indiana Secretary of State Connie Lawson today announced she has agreed to a settlement with LPL Financial which includes a civil penalty of $450,000. The settlement stems from an investigation by the Securities Division of the Secretary of State’s office regarding various deficiencies related to LPL’s supervision of its Indiana operations. The settlement specifically focuses […]