Tag Archives: Commission

EY Appeals Hong Kong Court Order To Produce Audit Working Papers Notwithstanding Holding That EY ‘Deliberately Withheld From SFC’ and State Secrets Not at Issue

More than a year ago, we began following the so-called Ernst &Young (“EY”) State Secrets Case in Hong Kong.  On 23 May 2014, the High Court of Hong Kong finally concluded that there was no “reasonable excuse” for EY’s failure to comply with Securities and Futures Commission (“SFC”) notices seeking information and documents, and that … Continue Reading

The Lawman Cometh: The SEC Adds Deferred Prosecution Agreements to Its Bag of Remedies

This post was written by Terence Healy. Last week the Securities and Exchange Commission (“SEC”) announced it had entered into its first deferred prosecution agreement (“DPA”) with an individual.  The announcement is interesting for two reasons.  It reflects the increasing tone of law enforcement the Commission is taking in its enforcement proceedings, and it raises the … Continue Reading

“Know Your Customer” No More? The SEC Signals a Uniform Fiduciary Standard May Be Coming for Broker-Dealers and Investment Advisers

This post was written by Terence Healy and Daniel Herbst. On March 1, 2013, the Securities and Exchange Commission (“SEC”) published a sweeping request for comments that may determine whether a uniform fiduciary standard will be required for all broker-dealers and investment advisers providing services to retail customers. Under the present regime, registered investment advisers … Continue Reading

Federal Trade Commission Announces Adjusted HSR Thresholds for 2012

On January 24, 2012, the Federal Trade Commission announced the annual threshold adjustments for premerger filings under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (15 U.S.C. § 18a) (“HSR”). The new thresholds have increased the dollar amount required to trigger HSR notification with respect to both the size-of-transaction and size-of-person tests. The revised HSR thresholds … Continue Reading
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