Structured data and information systems are increasingly utilized to improve the efficiency and efficacy of financial investigations. Forensic accountants and investigation experts have more frequently engaged skilled...more
In the realm of mergers and acquisitions (M&A), due diligence is a critical phase where a buyer’s acquisition team assesses potential risks and opportunities before finalizing the terms of an agreement to purchase its target...more
“When the facts change, I change my mind. What do you do?” - Sir John Maynard Keynes - Our waking hours are bombarded with more information than can be absorbed. From 2009 to 2017, the amount of data that enters the human...more
In the dynamic world of finance, where businesses seek expert guidance on budgeting, debt management, and fundraising, financial advisors play an essential role. In the UAE, the Securities & Commodity Authority (SCA) has...more
Whether the damage to a gas station's gas pumps results from car accidents, fires, lightning strikes, vandalism, or even floods, there are many distinct aspects to consider when reviewing and analyzing related business income...more
As cryptocurrencies become more mainstream, it is vital for forensic analysts to understand and analyze digital currency data. Forensic analysts are increasingly being brought in to trace and help recover crypto assets in...more
The NRC’s Reactor Decommissioning Financial Assurance Working Group recently held a public meeting to receive comments on potential guidance updates before publishing its final report. Prior to the public meeting, the working...more
Japanese distributor Rakuten leads off this week’s Update with a story detailing the circumstances leading to the distributor’s recent commitment to abandon all contractual parity requirements. Enjoy....more
In a recent paper, authors Jesse Chan, Steve Lin, Yong Yu, and Wuyang Zhao review the ways in which owning stock in covered companies affects recommendations by analysts. ...more
New guidance on how unconnected analysts can participate in the UK IPO process and access information from prospective issuers (Guidance) has been published by the Association for Financial Markets in Europe (AFME) and the...more
The new rules retain many of the current rules’ core requirements, but expand certain obligations and impose requirements on debt research activities for the first time. On August 26, 2015, the Financial Industry...more
More than ten years after the Global Research Settlement and the adoption of NASD Rule 2711, the Securities and Exchange Commission (SEC or Commission) has approve new FINRA rules addressing conflicts of interest for both...more
Here’s an interesting report from Bloomberg on a soon-to-be-published study that concludes that stock analysts are actually worse at predicting corporate earnings now, after a number of regulatory actions to increase...more
FINRA explains the risk levels associated with communications regarding potential investment banking transactions: from low to high to “unmanageable.” On May 27, the Financial Industry Regulatory Authority (FINRA)...more
Many market participants were left in a quandary following FINRA enforcement actions in connection with member firm research analyst “participation” in meetings with prospective issuers. Recently, FINRA published a handful...more
Last week, FINRA released seven new FAQs related to the research conflict of interest rules. In essence, FINRA analyzes the types of facts and circumstances that might be decisive in determining whether certain conduct or...more
FDIC Study Shows Branch Banking Has Staying Power: Has your smartphone displaced your bank? According to an FDIC study released on February 19, traditional brick-and-mortar offices are maintaining their primacy, despite...more
On November 18, 2014, the Financial Industry Regulatory Authority, Inc. (“FINRA”) filed a proposed rule change with the Securities and Exchange Commission (the “SEC”) to adopt NASD Rule 2711 as new FINRA Rule 2241 with...more
As financial markets globalize, particular markets have increasing opportunities to shape themselves by adopting processes, concepts and regulatory frameworks borrowed from other markets. Given their highly-developed nature,...more
A recent Massachusetts Securities Division $30 million settlement with Citigroup Global Markets Inc. (“CGMI”) provides a public glimpse into a less-widely known form of non-public information – a research analyst’s preview of...more