Why has the SEC apparently pursued such minimal settlements? The answers are surprising in that they reflect a wide discrepancy of views.
The core lesson of the Corzine imbroglio and his "Who me?" testimony before various congressional committees has not been instinctively overlooked, but certainly not emblazoned into our consciousness, as well it should be.
The U.S. House overwhelmingly passed its first significant crowdfunding legislation, in the form of H.R. 2930, the Entrepreneur Access to Capital Act....
The ruling of Judge Rakoff has caused consternation on Wall Street.
The Securities and Exchange Commission and Citibank mistook Federal Judge Jed S. Rakoff for a robo-signer to their toothless fraud settlement deal. Big mistake.
In light of the financial meltdown, many thought that, finally, the Wall Street cop -- the SEC -- was back on the beat. Sadly, the agency's recent settlement with Citigroup makes it look like they are still more interested in appearing tough than being tough.
Leaders who describe themselves as "authentic" are like sentences that start with, "To be honest." Whenever big cheeses proclaim "authentic leadership" as their effective guiding principle, chances are they're not so authentic, and they may not be effective or principled either.
The problems facing growth-stage companies in this country must be addressed, and these straightforward bills are initial steps in the right direction.
What are the key rules of the game in a modern American election? Who can be a candidate, who can vote, and who can spend money on the election. It was this third rule that changed last year.
While it is tempting to think that things could have turned out differently for some of these firms if they had implemented and executed a Dodd-Frank living will, the reality is that probably not much would have changed.
I don't know if my methodology would yield better results than the U.S. government's strategy (which failed to find a single trader) during the last ten years. But I'm certain the results couldn't be any worse.
The only way to restore confidence in our markets is to reinstitute time-tested rules on short selling and make certain that the new market structures and trading mechanisms are understood and properly regulated.
While opponents of the financial reform have zealously sought a reprieve for the nation's bankers, perhaps what is most striking is that there has been no reprieve for the American families crushed by the financial irresponsibility in which those bankers engaged.
More than one out of ten registered investment adviser firms have reported that they have been the subject of some sort of disciplinary action over the last decade.
The first step in my crowdfunding journey was understanding exactly why the SEC prohibits this form of fundraising.