News and Alerts
10/04/2011
The Foreign Corrupt Practices Act – Prohibition of the Payment of Bribes to Foreign Officials
The Foreign Corrupt Practices Act (“FCPA”) generally prohibits the bribing of foreign officials. The FCPA also requires publicly traded companies to maintain accurate books and records and to have a sys-tem of internal controls sufficient to provide reason-able assurances that transactions are executed and assets are accounted for in accordance with management’s authorization and recorded as necessary to permit the preparation of financial statements in conformity with generally accepted accounting principles (known as “GAAP”). The FCPA can apply to prohibited conduct anywhere in the world, even, in certain circumstances, where there is no U.S. territorial connection, and extends to publicly traded companies (“issuers”) and their officers, directors, employees, agents, and stockholders. Agents can include third party agents, consultants, distributors, joint-venture partners, and others.Read more09/23/2011
Investor Alert: Self-Directed IRAs and the Risk of Fraud
The SEC’s Office of Investor Education and Advocacy (OIEA) and the North American Securities Administrators Association (NASAA) are issuing this Investor Alert to warn investors of the potential risks associated with investing through self-directed Individual Retirement Accounts (self-directed IRAs).Read more09/07/2011
How to Read a 10-K
If you want to follow or invest in a U.S. public company, you can find a wealth of information in the company’s annual report on Form 10-K. Among other things, the 10-K offers a detailed picture of a company’s business, the risks it faces, and the operating and financial results for the fiscal year. Company management also discusses its perspective on the business results and what is driving them.Read more08/29/2011
SEC CHARGES TWO FLORIDA MEN IN PONZI SCHEME DEFRAUDING TEACHERS AND RETIREES
The Securities and Exchange Commission today charged two Florida men with operating a Ponzi scheme disguised as a purported private equity fund that fraudulently raised approximately $22 million from more than 100 investors, many of whom were Florida teachers or retirees.Read more08/23/2011