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FINRA Proposes Rule Change to Adopt FINRA Rule 9910 (Post-Employment Conflict of Interest Restrictions; Nonpublic Information)

Posted on October 28, 2018 at 10:25 AM

SR-FINRA-2018-037

FINRA filed with the Securities and Exchange Commission (“SEC” or “Commission") a proposed rule change to adopt Rule 9910 (Post-Employment Conflict of Interest Restrictions; Nonpublic Information) that would prohibit:
(1) any former officer from making certain communications to or appearances before FINRA for one year;
(2) any former employee from making certain communications to or appearances before FINRA at any time in a particular mat...

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SEC Charges Oil Company CEO, Board Member With Hiding Personal Loans

Posted on July 17, 2018 at 8:05 AM

The SEC charged the former CEO of Energy XXI Ltd. with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board. At the time of the alleged misconduct, Energy XXI was NASDAQ-listed and one of the largest oil and gas producers on the Gulf of Mexico shelf.

According to the SEC’s complaint:

  • CEO John D. Schiller Jr. maintained an extravagant lifestyle by using a highly leveraged margin account secu...

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U.S. labor agency overturns major ruling, citing Trump appointee's conflict

Posted on March 5, 2018 at 8:20 PM

The National Labor Relations Board (NLRB) just made it easier for companies that franchise their brands, such as McDonald’s Corp, to be held liable for labor law violations. The U.S. board overturned its own recent decision limiting corporate liability on the grounds that one of its members, appointed by President Donald Trump, should not have taken part in the December ruling because he had a conflict of interest as the case involved his own former law firm.

This decision means ...

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