Oyster Consulting Hires George Jennison as President

Former Associate Director expands the executive team of the growing firm.   Oyster Consulting announced today that George Jennison has been named President. Prior to being named as President, George served as Associate Director, helping clients trade more efficiently and effectively while reducing operational risk, meeting regulatory reporting requirements, and serving customers’ needs. George brings… READ MORE

Municipal Issuers and Underwriters: Have You Made Your Continuing Disclosures?

Municipal Issuers and Underwriters: Have You Made Your Continuing Disclosures? What’s Happening: The SEC offered a safe harbor period until December 1, 2014 that allowed for self-reporting of failure to comply with MSRB Rule 15c2-12, or the Municipal Continuing Disclosure Cooperation Initiative (MCDC), and has recently solicited comments on the impact of the rule on… READ MORE

ETMFs: Preparing for a New Breed of Funds

ETMFs: Preparing for a New Breed of Funds By: Julie Gibbs What’s Happening: The SEC recently approved investment management firm, Eaton Vance Corp’s, application to launch a new type of exchange-traded fund that is not required to disclose its holdings as frequently as traditional ETFs. Exchange-traded managed funds (“ETMFs”) are a hybrid of traditional exchange-traded… READ MORE

You may be exempt from Reg SCI, but you still need SCI!

What’s Happening? On November 19, 2014 the Securities and Exchange Commission (SEC) voted to adopt new rules designed to strengthen the technology infrastructure of the US securities markets, requiring entities to have comprehensive policies and procedures in place for market impacting technologies. These Regulations for Systems Compliance and Integrity, dubbed “Reg SCI” in the financial… READ MORE

SEC Releases Findings of Broker Dealers Involved in Sale of Securities of Microcap Companies

By: Evan Rosser What’s Happening: On October 9, 2014, the SEC released findings from its examination of 22 broker-dealers identified as being frequently involved in the sale of the securities of microcap companies. Specifically, the SEC evaluated compliance with the firms’ obligations to (1) perform a “reasonable inquiry” in connection with customers’ unregistered sales of… READ MORE

Evan Rosser in Investor News Article FINRA Expected to Adopt CARDS Despite Vocal Industry Resistance

Evan Rosser, Senior Consultant at Oyster Consulting LLC and former Vice President and Director of Enforcement at FINRA and its predecessor, the National Association of Securities Dealers, was recently quoted in a November 16 Investor News article discussing the likelihood of FINRA adopting CARDS, an automated tracking system to detect abusive broker conduct. While some… READ MORE

High Frequency Trading Firm Sanctioned for “Marking the Close”

By: Mike Nolan What is Happening: High frequency trading is being scrutinized more closely than ever. For the first time, the SEC recently sanctioned a New York-based, high frequency trading firm for market manipulation. According to the SEC, for several months in 2009 the firm was using aggressive, rapid-fire trades during the final two minutes… READ MORE