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Securities and Exchange Commission

Comments Sought on Controversial Political Spending Disclosure Rule

Comments Sought on Controversial Political Spending Disclosure Rule

Despite the restrictions imposed upon the SEC by Congress, the regulatory agency appears to be sustaining a contentious debate about public company disclosures for political activity in a request for comments that is part of a document soliciting views about the agency’s overall disclosure regime. The SEC asked for comments on the usefulness of public […]

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Online Tool Helps Companies Estimate Fees for EDGAR Filings

Online Tool Helps Companies Estimate Fees for EDGAR Filings

The SEC unveiled a tool that it said helps companies estimate their expenses for filing regulatory documents on the agency’s EDGAR system. The tool prompts users to enter data based on the type of filing and the applicable fees, and it provides suggestions for completing required fee tables based on the data entered. The SEC […]

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Delphi wins IRS inversion challenge & so is not treated as U.S. corporation

Delphi wins IRS inversion challenge & so is not treated as U.S. corporation

In a filing with the U.S. Securities and Exchange Commission (SEC), Delphi Automotive PLC (Delphi) announced that it is has won an appeal with IRS allowing the company to be treated as a U.K. tax resident for U.S. federal tax purposes. IRS had asserted that Delphi should be treated as a U.S. company under Code […]

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Chair White says effort to overhaul disclosure requirements will ‘actively’ continue

Chair White says effort to overhaul disclosure requirements will ‘actively’ continue

SEC Chair Mary Jo White said that the commission will publish a series of documents for public comment this year as part of its disclosure effectiveness project. The project is intended to lead to disclosure requirements that result in less boilerplate information loading down quarterly and annual regulatory filings. SEC Chair Mary Jo White on […]

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Bits ‘n Pieces – Trump on churches; Noble Energy; IRS dirty dozen list; SEC investigation re Caterpillar parts

Bits ‘n Pieces – Trump on churches; Noble Energy; IRS dirty dozen list; SEC investigation re Caterpillar parts

* Trump: Churches should not lose tax-exempt status for political participation. By Jose A. DelReal – The Washington Post. Republican presidential candidate Donald Trump tells the Christian Broadcasting Network that he believes more faith leaders would endorse him if they didn’t feel threatened. Link to The Washington Post, wapo.st/1OiaKiJv * Noble Energy changes track with […]

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Administrative judge’s decision against ex-nursing home executive set for review

Administrative judge’s decision against ex-nursing home executive set for review

The SEC plans to review an administrative judge’s initial decision against Laurie Bebo, the former CEO of nursing home operator Assisted Living Concepts. Bebo in October was ordered to pay $4.2 million and hit with other sanctions for accounting and disclosure violations that included a scheme to falsify occupancy rates at the company’s facilities. The […]

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Texas tycoon Wyly engaged in massive tax fraud, IRS tells court

Texas tycoon Wyly engaged in massive tax fraud, IRS tells court

DALLAS (Reuters) – Texas tycoon Sam Wyly engaged in “lies, deception and fraud” in a years-long scheme to dodge taxes on $1.1 billion held in offshore trusts, a lawyer for the Internal Revenue Service said on Wednesday. The IRS made those claims at the start of a trial in federal bankruptcy court in Dallas in […]

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JOBS Act crowdfunding rules approved

JOBS Act crowdfunding rules approved

The SEC approved its crowdfunding rules under the JOBS Act, opening the doors for start-ups to raise equity financing online through groups of investors. The vote comes two years after the commission first proposed the rules. The SEC on October 30, 2015, approved its crowdfunding rules under the JOBS Act, opening the doors for start-ups […]

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SEC opens the door to startup investing

SEC opens the door to startup investing

As reported in the news of the OC Register: A new form of crowdfunding is coming soon that will allow startups to raise money by selling stock to Main Street investors. The Securities and Exchange Commission on Friday adopted rules implementing a 2012 law that opened the door to securities crowdfunding. The vote was 3-1 […]

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IBM says SEC investigating company’s accounts

IBM says SEC investigating company’s accounts

(Reuters) – International Business Machines Corp said the U.S. Securities and Exchange Commission was investigating the company’s accounts. The investigation relates to revenue recognition with respect to certain deals in the United States, Britain and Ireland, IBM said on Tuesday. The company said it learned of the investigation in August and was cooperating with the SEC, […]

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UBS charged with disclosure violations in sales of structured notes

UBS charged with disclosure violations in sales of structured notes

UBS AG will pay $19.5 million to settle an SEC complaint that it misled investors in its sales of structured notes, marking the first such charges to be brought by the commission. The Swiss bank is one of the largest issuers of structured notes, which are hybrid financial products that include both a debt security […]

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Appeals Court Backs Broad Interpretation of Dodd-Frank Whistleblower Protections

Appeals Court Backs Broad Interpretation of Dodd-Frank Whistleblower Protections

A split federal appeals court ruled that Dodd-Frank whistleblower protections apply to employees who report misconduct within their companies, not just those who take the information directly to the SEC. The decision represents a victory for the commission, which is seeking to defend its whistleblower rules. A split federal appeals court ruled that Dodd-Frank whistleblower […]

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Administrative Judge to hear case against private equity executive Lynn Tilton

Administrative Judge to hear case against private equity executive Lynn Tilton

The SEC plans to move forward in its administrative complaint against private equity executive Lynn Tilton, who was charged earlier this year with defrauding investors. A U.S. District Court judge in June rejected Tilton’s lawsuit seeking to stop the in-house proceedings. The SEC plans to proceed with its administrative case against private equity executive Lynn […]

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Commissioner Aguilar Suggests More Transparency In Waiver Process

Commissioner Aguilar Suggests More Transparency In Waiver Process

SEC Commissioner Luis Aguilar suggested making the waiver process more transparent and accountable.In the past year, waivers have become a contentious issue, with critics saying the SEC is too lenient to big banks that repeatedly violate the laws but are given waivers to continue business as usual. SEC Commissioner Luis Aguilar said he wants the […]

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Dodd-Frank Whistleblower Rules May Get A Supreme Court Showdown

Dodd-Frank Whistleblower Rules May Get A Supreme Court Showdown

The SEC has filed a series of friend-of-the-court briefs defending its rules that protect corporate whistleblowers from retaliation by their employers. The dispute, which revolves around competing interpretations of a Dodd-Frank Act provision, is likely headed for the Supreme Court, one attorney predicted. The SEC in August 2015 filed four appeals court briefs defending its […]

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Judge Orders SEC To Finish Resource Payments Disclosure Rule

Judge Orders SEC To Finish Resource Payments Disclosure Rule

A federal judge ordered the SEC to resume work on a Dodd-Frank rule that is more than four years past its congressional deadline. Another federal court had thrown out the rule that required oil and mining companies to publicly disclose the payments they make to governments to do business. But the latest ruling told the […]

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SEC appeal defends administrative proceedings

SEC appeal defends administrative proceedings

The SEC filed an appeal seeking to overturn a federal court decision that deemed the agency’s use of in-house enforcement proceedings unconstitutional. The case, Gray Financial Group v. SEC, is one of several challenges to the SEC’s use of its own judges to pursue violations of securities law. The SEC filed an appeal on August […]

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Russian, Ukrainian Hackers Charged With Netting $100 Million From Insider Trading

Russian, Ukrainian Hackers Charged With Netting $100 Million From Insider Trading

The SEC charged 32 people with netting $100 million from an international insider trading ring that extended from the suburbs of Philadelphia and Atlanta to Russia and Ukraine. The defendants were accused of lifting confidential information from 100,000 public press releases of public companies before they were released to the general public.   Click here for […]

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Federal Judge Sets Limits On Use Of In-House Proceedings

Federal Judge Sets Limits On Use Of In-House Proceedings

A U.S. District Court judge blocked the SEC from continuing with an enforcement proceeding using its in-house administrative law judges because the process is unconstitutional. The SEC accused former Standard & Poor’s Rating Services executive Barbara Duka of loosening her firm’s standards for evaluating mortgage-backed securities. The Judge stopped an SEC enforcement proceeding against a former […]

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Whistleblower protections clarified in interpretive guidance

Whistleblower protections clarified in interpretive guidance

The SEC issued an interpretive release to explain the range of actions covered by its whistleblower protections. The market regulator has been concerned by a court ruling that said employees did not have the Dodd-Frank Act’s whistleblower protections if they reported suspected wrongdoing through company channels and not the SEC. The SEC on August 4, […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney