With the global nature of the regulatory and enforcement landscape, companies are regularly involved in simultaneous, cross-border actions and investigations conducted by various federal, state and foreign regulators. The constant evolution of markets and changes in the law are blurring jurisdictional boundaries and market participants continue to struggle with various actions being brought by the different agencies. This session will dive deeply into the way multiple agencies operate, the different legal standards of the regulations they operate under, and the kinds of market practices the agencies are pursuing in enforcement actions and civil and criminal penalties. Topics include:

SEC

• A look back at the Changing of the Guard and the new task forces (SEC Accounting Team; SEC Financial Fraud Task Force)
• New techniques and new technology: Data Analytics
• Fraud on the market
• How much disclosure is required?
• The expansion of the SEC trial unit in preparation for 2015
• Examination of the types of actions being initiated and the areas in which investigations are being commenced

FINRA

• The Report on Conflicts of Interest
• The Suitability Rule: what types of recommendations brokers will be liable for
• The status of the expungement procedure
• Private Placements – Offerings; Solicitation and Advertising; Due Diligence and Suitability
• Regulatory and Examination Priorities

DOJ

• An update on the status of FIRREA and new claims of financial fraud against financial institutions
• The intersection of the False Claims Act and FIRREA

PCAOB

• Audits, financial reporting, internal control, valuation and risk management issues relating to broker dealers