Legal, Compliance Employees On The Hook After Urban

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...
To view the full article, register now.