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Stephen J. Crimmins Benedicte Gravrand, Opalesque Geneva:
There are more investigations coming from the Securities and Exchange Commission, according to Stephen Crimmins, Washington and New York-based partner at K&L Gates LLP, an international law firm.
"The world of SEC regulations of the investment management space generally changed pretty dramatically around the beginning of 2009," he said during a webinar held on May 2nd, "when the SEC had a new Chairman Mary Shapiro, who retained a new enforcement director, Robert Khuzami. [The agency was] reeling from the scandals and various other difficulties, and announced there would be a major shake up of the enforcement program and that they would have five new specialised units. This all seemed like a good idea, and it was a good idea."
At the beginning of 2010, the SEC announced a new Market Abuse unit to deal with market manipulations and insider trading, a new Products Unit to deal with financial crisis and other matters, a CPA Unit, and a Securities and Public Pensions Unit.
"But what really knocked us off our chairs was that the fifth specialised unit was the new Asset Management Unit, dedicated...................... To view our full article Click here
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