BLOG
Learn more about what we do and stay up-to-date with industry regulations and trends
On February 10, 2016 the courts issued a decision addressing regulatory investigations that must be disclosed. This affects the SEC Rule 17h regarding required legal disclosure. – Read the full text report.
This significant decision will affect SEC Rule 17h with regards to reporting broker-dealers. This rule states that material legal disclosures must be reported to the SEC on a quarterly basis. A majority of companies refer to their accountants and/or auditors to figure out the materiality factor. A common practice approach has been to focus on the numerical information rather than a legal argument. However, this particular decision may encourage companies to look at their legal disclosure aspects from a different point of view. This report states that; “The question is not whether [a defendant's] silence can give rise to liability, but whether liability may flow from his or her decision to speak concerning material details without revealing certain additional known facts necessary to make his statements not misleading. This question is answered by the text of Rule 10b-5(b) itself: it is unlawful for any person to 'omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.” Marina Baranovsky from Scitus Consulting an expert in this field noted that this argument of materiality of legal proceedings is very different than balance sheet materiality approach. The potential effect of the misstatement on trends, especially trends in profitability is an issue that compliance supervisors need to continually be on alert for. Ms. Baranovsky commented that it will be interesting to see how this significant decision will affect SEC Rule 17-H reporting Broker-Dealers in the future. Many companies in the past referred to its accountants and/or auditors to figure out the materiality factor. However, this particular decision may encourage companies look at their materiality of legal disclosures from a different point of view. This broadens the focus from primarily numerical reports which were more simplistic, to a combination of numerical, legal and ethical considerations. 6/1/2016
2016 FINRA ANNUAL CONFERENCE RE-CAPIt was a pleasure to attend and exhibit at the 2016 FINRA Annual Conference in Washington D.C. this year. Chairman Richard G. Ketchum delivered an excellent address at the opening of this conference. He reiterated that high ethical standards are critical to maintaining investors’ trust in the financial markets and in the professionals and firms with which they work.
He pointed out that FINRA’s reviews and focuses cover a number of factors, including how a firm communicates and reinforces values directly, implicitly and through its reward system. FINRA also is interested in how a firm measures compliance with its cultural values; what metrics, if any, it uses; and how it monitors for implementation and consistent application of those values throughout its organization. Chairman Richard G. Ketchum went on to say that “FINRA will assess whether control functions are valued within the organization; whether the organization proactively seeks to identify risk and compliance events.” Our Eagle Eye and SQWatcher applications will help your organization supervise and monitor your website(s) and your employees’ presence on the web. Our automated recordkeeping features will save you time and help ensure that you are consistently meeting the general supervision requirements. Demonstrate that your company values compliance. Our applications help you consistently stay compliant with NASD Rule 3012 and FINRA Rules 2201, 3110 and 3270. SiteQuest Technologies is the leading-edge compliance software provider specializing in solutions that help firms supervise the web as well as archiving and monitoring websites and blogs. We will help your organization become proactive in seeking to identify risks and compliance events on the websites that you are required to supervise. Contact us today and we will demonstrate for you the solutions our company has to offer. Read the full text of Chairman Richard G. Ketchum’s address. In a world of ever growing automation and computer work, it's easy to find yourself staring at your computer screen (or screens) virtually all day long. While sometimes we feel that our brains might be fried from such activities, you're eyes also pay a heavy price in the form of eye strain.
Here are some helpful hints on how to avoid eye strain based upon a 20-20-20 rule.
It also helps to adjust your computer display settings. Adjusting the brightness, text size, and contrast of your display can help reduce eye strain and fatigue. You'll find that by doing so, your focus on your work will increase while your eye strain symptoms will start to decrease. Give your eyes a break and let Eagle Eye do the work for you. Eagle Eye is a leading-edge application that automates your processes for searching, documenting, reporting and ultimately supervising your associates’ web presence. Many of our clients have found that using Eagle Eye can reduce their workload by as much as 80%. See how Eagle Eye can help save you time from having to stare at your computer screen all day. Eagle Eye might not be able to pick your winning brackets for March Madness, but it will quickly and efficiently help you discover, review and mitigate compliance risks that exist online for your firm or associates.
At SiteQuest we’ve painstakingly designed a system with built-in intelligence that sifts through the web for you. These results are more accurate than what you'd find on a typical Google search. Allow Eagle Eye to search through the MADNESS of the web and start enjoying a system that automates your web supervision process from start to finish. See for yourself how this innovative application works! 2/11/2016
REASONS WHY OUR CUSTOMERS LOVE EAGLE EYE
Don’t just take our word for it. A compliance officer in the Midwest said this about Eagle Eye: The Eagle Eye Surveillance system has been a force multiplier in my firm’s supervisory scheme. This simple tool has transformed my internet surveillance sweep process from a time-consuming, multi-day enterprise where I view the same search results over and over to a simple process that can be completed in a couple of hours. Eagle Eye is simple to setup and affordable, allowing you to be up in running in a matter of days. Contact us to learn more about how Eagle Eye can solve your web supervisions problems today and prevent compliance and supervisory headaches in the future. We'd be happy to show you how Eagle Eye will work for you.
|
About James CellaJames Cella is the President of a growing and innovative compliance technology provider called SiteQuest Technologies. James is a customer-centric individual and focuses on building and sustaining positive and lasting relationship with his clients and partners. James and his family are "super fans" of Utah Football and have attended nearly every home game since 2002. Go Utes! Archives
July 2019
Categories |
Products |
Company |
|
7/7/2016