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SEC Staff and FINRA Issue Report on National Senior Investor Initiative

SEC Staff and FINRA Issue Report on National Senior Investor Initiative
Source: U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority

With the Social Security Administration estimating that each day for the next 15 years, an average of 10,000 Americans will turn 65, the staff of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) today issued a report to help broker-dealers assess, craft, or refine their policies and procedures for investors as they prepare for and enter into retirement.

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Business And Economics

Shale oil companies facing credit crunch

By Dawn Kopecki, Christine Idzelis and Bradley Olson

Lenders are preparing to cut the credit lines to a group of junk-rated U.S. shale oil companies by as much as 30 percent in the coming days, dealing another blow as they struggle with a slump in crude prices, according to people familiar with the matter. 799 more words


American Apparel: Charney Seeks Millions In Damages, S.E.C. Investigates Charney's Termination

Dov Charney, the controversial founder and former CEO of American Apparel Inc., is seeking millions in damages after he was terminated last year. The New York Posts reports, Charney’s attorney Keith Fink’s, who represented the fashion retailer’s employees against Charney for sexual harassment, said in a letter dated March 19, that Charney is seeking  $20M to $25M in damages for loss of employment; about $6M in severance; $10M for emotional distress; $1.3 in vacation time pay; and 13 million shares of the company. 197 more words

Fashion Court

SEC launches probe into American Apparel's dismissal of former CEO Dov Charney

American Apparel Inc., whose controversial founder was ousted last year for alleged misconduct, said the U.S. Securities and Exchange Commission has begun a probe into the company’s handling of the matter. 267 more words

Retail & Marketing

Davis Polk discusses SEC Issuance of Reporting Rules for Security-Based Swaps

On February 11, 2015, the Securities and Exchange Commission issued a final rule (the “Final Rule”) and proposed amendments (the “Proposed Rule”) on the reporting and public dissemination of security-based swap (“SBS”) information, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. 2,818 more words

Securities Regulation

Nordstrom Shareholder Says Nordstorm Hid Expenses Amassed By Nordstorm Family For Personal Use Of Company Planes

“For many years, unbeknownst to its shareholders, Nordstrom has maintained an aviation department, the activities of which are far removed from Nordstrom’s core business as an upscale fashion retailer,” states the derivative complaint that was filed in the Washington Western District Court. 689 more words

Fashion Court

Chair White explains Disqualifications, Exemptions and Waivers Under the Federal Securities Laws

Thank you, Bill, for that very kind introduction.  I am honored to be here.I see that you have an ambitious agenda over the next two days discussing some of the hardest legal challenges companies are facing today.   6,164 more words

Securities Regulation