Andy Melnick and Brian Walsh author Schwab’s Compliance Review and Personal Trading - In its February 2017 Risk Alert, the Securities and Exchange Commission (SEC) identified personal trading by investment advisor “access persons” as an area in which examination staff frequently find compliance failures. This notification to firms underscores the importance that the SEC ascribes to personal trading compliance. This white paper details the rule covering personal trading, provides practical tips for compliance, and discusses relevant enforcement cases that have resulted from noncompliance.
What is a Regulation SHO bona-fide market maker? As discussed below, this actually is a trick question, because Regulation SHO does not contemplate that a broker-dealer would have the status of a “bona-fide market maker,” but focuses on whether a market maker is engaged in “bona-fide market making activities.”
James Goldfarb and Steve Crimmins comment on how Justices’ Securities Docket Could Reflect Class-Action Focus.
Did Bank of America and JPMorgan Chase breach their state-law fiduciary and contractual obligations to mutual fund clients by not telling them about certain beneficial fee arrangements?
The U.S. Supreme Court, which has signaled a strong interest in class securities litigation, could resolve the question during its coming term ( Holtz v. JPMorgan Bank N.A., U.S., No. 16-1536, petition filed 6/22/17; Goldberg v. Bank of America N.A., U.S., No. 16-1541, petition filed6/21/17).
Michele Rose, Experienced Securities Litigator, Joins Murphy & McGonigle
Steve Feldman comments on Hobby Lobby’s purchase of smuggled artifacts.
Murphy & McGonigle Partner, Lionel André, was elected to the D.C. Bar Health Law Section Steering Committee. Mr. André will serve a three-year term on the Steering Committee, starting on July 1, 2017. "It is an honor for me to join the Steering Committee for the Health Law Section of the D.C. Bar," André said.