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Cady Bar the Door Insight & Commentary on SEC Enforcement Actions and Related Issues

Monthly Archives: September 2012

SEC’s Secret Payments Brigade Marches On

Posted in Accounting Fraud, Whistleblowers

On Monday the SEC’s Miami Regional Office brought a settled enforcement action against Gilbert Fiorentino, a former director and officer of Systemax, Inc., a Long Island-based company that sells personal computers and other consumer electronics through its websites, retail stores, and direct mail catalogs.  The SEC’s complaint alleges that over the five years from 2006… Continue Reading

NASAA Identifies Top Broker-Dealer Compliance Violations and Best Practices

Posted in Broker-Dealers, FINRA

On Sunday, the North American Securities Administrators Association released its list of broker-dealer compliance violations and best practices to avoid those violations.  The list is based on a compilation of 236 examinations by state securities examiners from 24 jurisdictions around the United States.  The exams were conducted in the first half of 2012 under the… Continue Reading

FINRA Reminds World about Global Research Settlement

Posted in Broker-Dealers, FINRA

Remember the Global Research Settlement?  It has been somewhat in the news recently.  You might recall that it involved ten huge banks and the, uh, symbiotic relationship between those banks’ research and investment banking arms.  The pattern that had developed worked like this:  equity analysts published favorable coverage of a publicly traded company’s stock, and… Continue Reading