Regulators' Impatience With Noncompliance Grows

Law360, New York (November 16, 2007, 12:00 AM EST) -- Two recent enforcement actions, one by the Securities and Exchange Commission ("Commission") against Consulting Services Group, LLC (“CSG”), an investment adviser,[1] and one by the Financial Industry Regulatory Authority (“FINRA”) against Franklin Ross, Inc., a broker-dealer,[2] serve as a reminder that firms must implement compliance programs that are specifically tailored to the firm’s business. These enforcement proceedings also highlight the obligation of firms actually to comply with and enforce those procedures.

SEC Enforcement Proceeding Against CSG

Without admitting or denying the findings, CSG consented to the...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.