Legal, Compliance Employees On The Hook After Urban
October 4, 2010, 1:01 PM EDT
Law360, New York (October 4, 2010, 1:01 PM EDT) -- On Sept. 8 a U.S. Securities and Exchange Commission administrative law judge ruled that Theodore W. Urban, the former general counsel of the brokerage firm Ferris Baker Watts Inc., acted reasonably in his supervision of a rogue broker and dismissed the case brought by the SEC’s Enforcement Division. See In the Matter of Theodore W. Urban, Adm. Proc. File No. 3-13655, Initial Decision (Sept. 8, 2010).
While this decision was certainly good news for Urban, it may not be good news for legal and compliance employees...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.