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- Compliance officer; compliance; enforcement; regulation; regulators; personal liability; protections; whistleblower; whistleblower protections; chief compliance officers; SEC; FinCEN; Dodd-Frank Act; workplace culture; management; organizational governance; chilling effect; retaliation protection; Bank Secrecy Act; BSA; National Society of Compliance Professionals; NSCP; FINRA; CCO; CEO; CFO; non-regulation; Society of Corporate Compliance and Ethics; SCCE; Compliance Certification Board; CCB; Sarbanes-Oxley Act; Dodd-Frank 78u-6(h); Digital Realty Trust v. Somers; Model Rule of Professional Conduct 1.13 (1)
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- SEC; Commission; Enforcement; Enforcement Actions; Rule 102; 102; mandatory referral; attorney discipline; attorney conduct; attorney (1)
- Securities; traders; artificial intelligence; markets; regulation; machine learning; intent; scienter; price manipulation; enforcement action; deep learning; artificial neural networks; ANN; financial modeling; The Securities and Exchange Act of 1934; black box; autonomous trading; wash sale; 10(b); SEC; 10(b)-5; 20(a); CFTC; FINRA; broker-dealer; SEC v. Masri; SROs; GAAP; financial reporting; recklessness; circumstantial evidence; misstatements; omissions; Facebook; Rolf v. Blyth (1)
Articles 1 - 3 of 3
Full-Text Articles in Law
Compliance Officers: Personal Liability, Protections, And Posture, Jennifer M. Pacella
Compliance Officers: Personal Liability, Protections, And Posture, Jennifer M. Pacella
Brooklyn Journal of Corporate, Financial & Commercial Law
This Symposium Article will explore the evolving nature of the regulatory and enforcement landscape as it pertains to compliance officers, specifically regarding their susceptibility to personal liability. It will examine the posture of compliance officers in three contexts: i) as a possible target for enforcement activity by regulators; ii) as a quasi-professional subject to a current regime of “non-regulation”; and iii) as an employee in need of ample whistleblower protections, each of which create implications for a compliance officer’s risk of personal liability and protections as a constituent of the organization monitored. After considering the current guidance surrounding enforcement activity …
Artificial Intelligence & Artificial Prices: Safeguarding Securities Markets From Manipulation By Non-Human Actors, Daniel W. Slemmer
Artificial Intelligence & Artificial Prices: Safeguarding Securities Markets From Manipulation By Non-Human Actors, Daniel W. Slemmer
Brooklyn Journal of Corporate, Financial & Commercial Law
Securities traders are currently competing to use Artificial Intelligence (A.I.) in order to make more profitable decisions in the marketplace. While A.I. provides superior abilities in recognizing market patterns, its complexity can obscure its decision-making process beyond human comprehension. Problematically, the current securities laws prohibiting manipulation of securities prices rest liability for violations on a trader’s intent. In order to prepare for A.I. market participants, both courts and regulators need to accept that human concepts of decision-making will be inadequate in regulating A.I. behavior. However, the wealth of case law in the market manipulation doctrine need not be cast aside. …
Why Does The Sec Hate Lawyers And Will The Bitterness Ever Go Away: A Review Of The Reasons For The Current State Of This Relationship And A Proposed Path Forward, Ernest Edward Badway, Joshua Horn, Christie Mcguinness
Why Does The Sec Hate Lawyers And Will The Bitterness Ever Go Away: A Review Of The Reasons For The Current State Of This Relationship And A Proposed Path Forward, Ernest Edward Badway, Joshua Horn, Christie Mcguinness
Brooklyn Journal of Corporate, Financial & Commercial Law
The United States Securities and Exchange Commission (“SEC” or “Commission”) and its staff (“Staff”) have brought numerous actions against lawyers in a variety of contexts over the last several years. These enforcement actions have arguably prevented zealous advocacy as well as potentially leaving lawyers reluctant to make certain arguments on behalf of their clients so as to avoid potential disciplinary actions against them. While it is important for the Commission and its Staff to ensure that lawyers do not engage in violative conduct, this Article notes that the SEC and its Staff’s actions should be limited to only those occasions …