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Survey of 2009 SEC Enforcement Cases Involving Broker-Dealers and Investment Advisers Presenters: Michele Layne, Associa

Survey of 2009 SEC Enforcement Cases Involving Broker-Dealers and Investment Advisers Presenters: Michele Layne, Associate Regional Director (Los Angeles) U.S. Securities and Exchange Commission Steven Hansen, Partner Bingham McCutchen LLP Boston, MA

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Survey of 2009 SEC Enforcement Cases Involving Broker-Dealers and Investment Advisers Presenters: Michele Layne, Associa

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  1. Survey of 2009 SEC Enforcement Cases Involving Broker-Dealers and Investment Advisers Presenters: Michele Layne, Associate Regional Director (Los Angeles) U.S. Securities and Exchange Commission Steven Hansen, Partner Bingham McCutchen LLP Boston, MA National Regulatory Services Fall Compliance Conference November 3-6, 2009 – Las Vegas, Nevada © 2009 National Regulatory Services

  2. “Material Non-Public Information” - La plus ca change... Securities and Exchange Commission v. Galleon Management, LP.

  3. If you say you are conducting diligence, conduct diligence. • Hennessee Group LLC • Morgan Stanley & Co.

  4. Privacy is a big deal. Stephen Cheryl Bauman Commonwealth Equity Services Woodbury Financial Services

  5. Gifts and gratuities remain on the radar screen. RBC Capital Markets Corporation

  6. Valuation is key. Evergreen Investment Management Company

  7. No mercy when it comes to auction rate securities. TD Ameritrade, Inc.

  8. Basics matter: Registration. Ram Capital Resources, LLC

  9. Don’t wait to fix a problem. M.A.G. Capital, LLC

  10. Lawyers and CCO’s may be in harm’s way. Stephen Cheryl Bauman Melissa M. Hurley

  11. Legal advice may not be a defense. Perry Corp.

  12. Sweat the details: Regulation M. Diamondback Capital Management, LLC

  13. QUESTIONS?

  14. Thank You. © 2009 National Regulatory Services

  15. NRS Online Events Upcoming Advisers Act Pt I, 201-205 November 10, 2009 11:00a.m. – 2:00 p.m. and 3:00 p.m. – 5:30 p.m. Advisers Act Pt 2, 206-222 November 17, 2009 11:00 a.m. – 2:00 p.m. and 3:00 p.m. – 5:30 p.m. Washington Update: A Beltway Briefing on the Status of Regulatory Reform and New SEC Initiatives November 19, 2009 1:00 p.m. – 2:00 p.m.

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