A Model Of Cooperation With The SEC

Law360, New York (March 27, 2012, 1:37 PM EDT) -- On March 19, 2012, the U.S. Securities and Exchange Commission announced that in exchange for his substantial cooperation during the agency's enforcement action against AXA Rosenberg Group LLC and its CEO, Barr M. Rosenberg, it would not take enforcement action against an unnamed former AXA Rosenberg senior executive.

Previously, the SEC had alleged that AXA Rosenberg, an institutional money manager, concealed a material error in the computer code of the model it used to manage client assets. The coding error affected the portfolios of more than...
To view the full article, register now.