Legal & Regulation

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SEC charges broker-dealer and CEO with supervision failures related to hedge fund valuation scheme

SEC charges broker-dealer and CEO with supervision failures related to hedge fund valuation scheme

The Securities and Exchange Commission has charged New York-based broker-dealer AOC Securities, and its former chief executive officer, Ronaldo Gonzalez, with failing to supervise an AOC broker who provided inflated price quotes for certain securities to a significant customer of AOC.

Regulation

Postponement of initial margin big bang

Postponement of initial margin big bang

By Blake Estes, counsel in Alston & Bird’s Financial Services & Products Group – Following the financial crisis, the Basel Committee on Banking Supervision and the International Organisation of Securities Commissions (IOSCO), as directed by the G-20 countries, developed consistent global standards for margin requirements for uncleared derivatives to reduce systemic risk in the derivatives markets.