The PCAOB’s 2012 enforcement program – a 2013 update *

USA - January 23 2013
In a January 2012 article, we reviewed the enforcement program of the Public Company Accounting Oversight Board (the "PCAOB" or "Board") over its…

Co-authors: David B. Hardison.

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An assessment of the PCAOB’s enforcement program to date under Sarbanes-Oxley *

USA - January 10 2012
The establishment of the Public Company Accounting Oversight Board (the "PCAOB" or "Board") was a key element of the Sarbanes-Oxley Act of 2002 ("Sarbanes-Oxley").

Co-authors: David B. Hardison.

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SEC and FINRA issue guidance on broker-dealers’ branch office internal inspections *

USA - December 19 2011
In a move that highlights regulatory cooperation, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) and the Financial Industry Regulatory Authority (“FINRA”) jointly issued to the broker-dealer community guidance (“Joint Guidance”) on the best practices that firms should consider using in their internal inspections of branch offices.

Co-authors: Natalie E. Shioji, Linda Riefberg.

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PCAOB issues concept release soliciting comments on mandatory audit firm rotation *

USA - October 17 2011
The Public Company Accounting Oversight Board (the “PCAOB”) has issued a concept release soliciting comment on whether the PCAOB should require the mandatory rotation of accounting firms that audit public companies.

Co-authors: Vasiliki B. Tsaganos, Steven M. Witzel, David B. Hardison, Stuart H. Gelfond.

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Second Circuit holds that FINRA cannot use the courts to collect disciplinary fines *

USA - October 7 2011
October 5, 2011, in Fiero v. FINRA, No. 09-1556-cv (2d Cir. Oct. 5, 2011), the United States Court of Appeals for the Second Circuit held that FINRA and other self-regulatory organizations lack the authority to bring federal court actions to collect on their disciplinary fines.

Co-authors: Kevin J. Harnisch, Linda Riefberg.

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