FINRA: Referring Fraud to All the Right Places
The Financial Industry Regulatory Authority (FINRA) reported on its success in referring allegedly
fraudulent conduct to the SEC and other law-enforcement agencies.
The statement reported that in 2012, the agency obtained $68
million in fines and $34 million in restitution for aggrieved
customers. The agency also stated it filed 1,541 disciplinary
actions and made 347 referrals of insider trading to the U.S.
Securities and Exchange Commission (SEC) and other law-enforcement
agencies in 2012.
Are Foreign Executives Subject to FCPA Suits in the U.S.?
At a hearing on a motion to dismiss an SEC Foreign Corrupt
Practices Act (FCPA) action against a foreign company and its
executives, the SEC argued jurisdiction was proper because the
company's stock is listed on U.S. exchanges, the company files
with the SEC and the foreign executives purposefully directed
conduct at the United States, namely, "conscious, direct
action
