The U.S. Securities and Exchange Commission has charged the Chinese affiliates of Deloitte, Ernst & Young, KPMG, PwC and BDO with violating the U.S. Securities Exchange Act. By refusing to produce paperwork related to investigations into accounting fraud, these firms ran afoul of securities laws, says an FT report. The move has brought the spotlight […]
The Canadian Securities Administrators (CSA) announced today the adoption of amendments to National Instrument 54-101, Communication with Beneficial Owners of Securities of a Reporting Issuer, and National Instrument 51-102, Continuous Disclosure Obligations, which aim to improve communications between reporting issuers and their shareholders in the proxy voting process.
Now isn’t the time for significant regulatory fee increases, says the Investment Industry Association of Canada (IIAC).
Regulators are taking too long to finalize the Volcker Rule, say U.S. Senators. The Washington Post reports Democratic Sens. Carl Levin (Mich.) and Jeff Merkley (Ore.) “said the uncertainty surrounding the Volcker Rule jeopardizes the health of the economy.” In a letter to five regulators, the senators wrote, “Ongoing failure to implement these important protections […]
Canadians are too lax when it comes to fraud awareness and financial literacy.
U.S. authorities are going after corrupt traders with renewed vigour. The number of new FBI investigations into insider trading shot up 43% nationwide for the fiscal year that ended September 30, according to a report on FT. Read: Hedge fund founder convicted of insider trading “Since 2009, criminal charges have been filed against 72 hedge […]
Advocis has made regulatory submissions on PRPP regulation, mutual fund prospectus disclosure, and registration requirements and exemptions. PRPP Regulation Advocis has commented on proposed PRPP regulation on licensing, permitted investments, investment choices, permitted inducements, cost, contribution rate and disclosure requirements. Mutual Fund Prospectus Disclosure Comments made to the Canadian Securities Administration (CSA) on proposed amendments […]
Registration requirements are strict and might stand in the way of an advisor providing access to an investment that’s truly in the client’s best interests.
A BCSC panel has revoked a temporary order and maintained a freeze order against two Burnaby residents and an unregistered Burnaby company.
Last week, SEC chairwoman Mary Shapiro axed the decision to put proposed new regulatory reforms of U.S. money market funds to a vote. It’s alleged many of the commissioners planned to vote against the proposed changes, for fear they’d have too great an impact and cause investors to seek riskier alternatives. Read: Income solutions for […]