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Articles tagged with: SEC

News Release: Groups Sign Stock Buyback Petition
June 26, 2019 – 9:29 am

“The money that is being siphoned off from earnings to increase executive bonuses doesn’t just make wealthy insiders wealthier,” said Heather Slavkin Corzo, senior fellow at Americans for Financial Reform. “It is money that could have been used to invest in making the business more competitive and pay workers living wages.”

News Release: Groups Petition SEC to Abandon Rules Sanctioning Share Buybacks
June 25, 2019 – 7:24 pm

The groups urged the agency to abandon old rules that govern stock buybacks in light of their rampant abuse by corporate America since their enactment in 1982. Last year, the massive tax cut passed by Congress and signed into law by President Trump gave companies war chests of unprecedented size to boost share prices through stock buybacks.

Letter to Regulators: New Jersey Investor Protection Rule Would Fill Regulatory Void
June 14, 2019 – 3:03 pm

Given the unfortunate demise of the Department of Labor (DOL) Fiduciary Rule and the glaring deficiencies in the Securities and Exchange Commission’s (SEC’s) Regulation Best Interest, we greatly appreciate states such as New Jersey that are willing to step in to fill the regulatory void by providing the protections investors need and expect.

News Release: Statement on SEC Approval of Reg BI
June 5, 2019 – 12:10 pm

Today, the SEC finalized a rule that will allow financial professionals to claim they are required to act in investors’ best interests. But “Regulation Best Interest” falls far short of what ordinary investors need to ensure they don’t fall prey to self-interested advice.

News Release: Statement On SEC Auditing Decision
May 9, 2019 – 11:32 am

Everyone who lived through the ENRON debacle, the 2008 financial crisis, or high school math class knows that when it comes to complex calculations, it’s good practice to have someone else check your work to confirm that you got it right.

Letter To Regulators: SEC Package on Investor Protection Does Not Live Up to Name
April 26, 2019 – 12:54 pm

Unfortunately, while we believe it would be possible to adopt standards that meet investors’ reasonable expectations under the Commission’s chosen regulatory approach, the regulatory package as currently drafted does not achieve that goal.

Joint Letter: Report to SEC Highlights Disclosure Weaknesses of Broker Standards Rule
December 11, 2018 – 5:30 am

Given the evidence that, after being provided a summary relationship disclosure, investors still cannot fully understand, and in some cases misunderstand, fundamental differences in the nature of the brokerage and advisory relationships and the respective duties they are owed, the different fees they would pay, or how various conflicts of interest can influence the recommendations they receive, a regulatory regime that relies on disclosure for investors to make an informed decision about what type of financial professional to work with and what type of account to use is certain to fail.