May 27, 2015 – SEC Approves Amendments to Arbitration Codes to Revise the Definitions of Non-Public and Public Arbitrator (Regulatory Notice 15-18)
ffective June 26, 2015, the SEC approved amendments to the definitions of non-public arbitrator and public arbitrator in the Customer and Industry Codes of Arbitration Procedure. The amended definitions provide, among other matters, that …
May 13, 2015 – The National Adjudicatory Council (NAC) Revises the Sanction Guidelines Related to Misrepresentations and Suitability effective immediately
The NAC has revised the Sanction Guidelines related to misrepresentations and suitability. Specifically, the revisions:
modify the guidelines related to fraud to advise adjudicators to strongly consider barring an individual respondent for intentional or reckless fraud …
April 28, 2015 – The Sixth Appellate District of California found that plaintiff Cypress Semiconductor was liable for the attorney’s fees of defendant Maxim Integrated Products, Inc. under the Uniform Trade Secrets Act (California Civil Code Section 3426 et seq.) because its claim that Maxim’s hiring of its former employees constituted a bad faith claim …
February, 2015 Nickolay “Nick” Kotyrlo Appointed Deputy Commissioner for Broker Dealer/Investment Advisor Division at the California Department of Business Oversight
February 3, 2015, the Financial Industry Regulatory Authority (FINRA) issued a new report on cyber security, which details practices that firms can tailor to their business model as they strengthen their cyber security efforts. The top 3 threats identified in the 2011 and 2014 surveys are:
hackers penetrating firm systems;
insiders compromising firm or client …
January, 2015 – The 2014 annual reports for Lenders and Brokers Licensed under the California Finance Lenders Law (CFLL), and licensees under the California Deferred Deposit Transaction Law (CDDTL) is due Mar. 15, 2015
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