Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

Category Archives: Securities Law

Google – Updating our Transparency Report and electronic privacy laws

“Today, we are releasing the latest version of our Transparency Report concerning government requests for user data. This includes government requests for user data in criminal cases, as well as national security matters under U.S. law. Google fought for the right to publish this information in court and before Congress, and we continue to believe that this type of transparency can inform the broader debate about the nature and scope of government surveillance laws and programs. In the first half of 2017, worldwide, we received 48,941 government requests that relate to 83,345 accounts. You can see more detailed figures, including a country-by-country breakdown of requests, here. We’ve also posted updated figures for the number of users/accounts impacted by Foreign Intelligence Surveillance Act (FISA) requests for content in previous reporting periods. While the total number of FISA content requests was reported accurately, we inadvertently under-reported the user/account figures in some reporting periods and over-reported the user/account figures in the second half of 2010. The corrected figures are in the latest report and reflected on our visible changes page…”

Secure EDGAR data breach exploited for possible insider trading w updates

Statement on Cybersecurity Chairman Jay Clayton, Sept. 20, 2017 “…Notwithstanding our efforts to protect our systems and manage cybersecurity risk, in certain cases cyber threat actors have managed to access or misuse our systems.  In August 2017, the Commission learned that an incident previously detected in 2016 may have provided the basis for illicit gain… Continue Reading

SEC Filer Manual – Volume II EDGAR Filing July 2017

July 2017 EDGAR Filer Manual (Volume II) Notice – “Use this EDGAR® Filer Manual when making electronic filings with the United States Securities and Exchange Commission (SEC or “Commission”). See Rule 301 of Regulation S-T. The EDGAR Filer Manual consists of three volumes. EDGAR Filer Manual (Volume I) General Information introduces the requirements for becoming… Continue Reading

Guide to Social Media and Securities Laws

Jay Baris and Bradley Berman, MOFO Jumpstarter, August 14, 2017. “The growing use of social media has created challenges for federal securities regulators, who must enforce antifraud rules that were written at a time when the prevailing technology was the newspaper. This Guide summarizes how regulation has evolved in the face of the growing use… Continue Reading

Search SEC historical EDGAR filings

“Welcome to the archive of historical EDGAR documents. This search allows you to enter complex queries to retrieve all but the most recent day’s EDGAR filings (from 1994 through 2017). If a simple search will suffice or if you need real-time, up-to-the-minute filings, please visit the main EDGAR Search page for other choices.” Continue Reading

Sqoop – free data journalism site makes it easier to find and track public records

Data Driven Journalism: “Just because there’s a duty to disclose, doesn’t mean there’s a duty to make it easy. This seems to be a universally true when it comes to public records, regardless of the country or government making them available. The consequences for journalists can be profound: hours of time spent digging through messy… Continue Reading

Securities and Commodities Exchange Litigation Up 37 Percent

“The latest available data from the federal courts show that during May 2017 the government reported 128 new securities and commodities exchange civil filings. According to the case-by-case information analyzed by the Transactional Records Access Clearinghouse (TRAC) at Syracuse University, monthly filings when compared with those of the same period in the previous year were… Continue Reading

SEC: Payments for Bullish Articles on Stocks Must Be Disclosed to Investors

News release: “The Securities and Exchange Commission today announced enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, unbiased analyses on investing websites while writers were being secretly compensated for touting company stocks. SEC investigations uncovered scenarios in which public companies… Continue Reading

Sentieo Trump Tracker: Follow The President’s Impact on Your Investment

Senteio Blog: “Today, we are excited to introduce the Trump Tracker. It’s a bot that constantly scans new public financial documents for mentions of President Trump. These documents include all SEC filings, conference call transcripts, investor presentations, press releases, and more. The bot instantly surfaces new mentions of Trump as soon as they’re published, while… Continue Reading

Report on Distributed Ledger Technology: Implications of Blockchain for Securities Industry

FINRA – “This paper provides an overview of distributed ledger technology, highlights some key applications being explored in the securities industry and potential impact of the technology, and discusses key implementation and regulatory considerations for broker-dealers.  FINRA welcomes an open dialogue with market participants to help proactively identify and address any potential risks or hurdles in… Continue Reading

Paper – Regulating Information

Bird, Andrew and Karolyi, Stephen A. and Ruchti, Thomas G., Regulating Information (October 18, 2016). Available for download at SSRN: https://ssrn.com/abstract=2901650 “The SEC regulates and standardizes information production in financial markets through financial reporting standards. With a novel dataset exploiting institutional features of the standard setting process. On average, standards increase aggregate market value by… Continue Reading