Chief Legal Architect and a co-founder of Caffrey.AI
Steven Lofchie is the Chief Legal Architect and a co-founder of Caffrey.AI, an AI platform built for law firms, banks, and the financial regulatory industry. He is also a partner at Norton Rose Fulbright, where he advises financial institutions on securities laws, the Commodity Exchange Act, and broker-dealer regulation. Ranked by Chambers USA every year since 2007, he is the author of “Lofchie’s Guide to Broker-Dealer Regulation,” long considered the leading treatise on the subject.
Recent Articles & Comments
A more valuable statistic for regulators to report might be how many "voluntary" whistleblowers attempted to raise red flags internally before going to the government. An announcement bragging about rewarding employees who may or may not make an effort to resolve problems internally first could send the wrong message and may create the wrong incentives. Isn't it possible that bestowing money on employees who refrain from addressing problems within their firms encourages them to remain…
Despite being the SEC investor protection advocate, Mr. Fleming seems to be promoting legislation that would incentivize lending to municipalities instead of private enterprises. His argument requires some consideration. Are retail investors served by a campaign for measures that would incentivize lending to municipal entities?
Mr. Fleming's hypothesis is that lending to munis has been effectively discouraged by employers' migration from defined benefit pension…
If ever a rule were designed to fail cost-benefit analysis, the SEC manifesto on conflict minerals is it. When 97% of companies are not sure where the money is going, chances are that the data is useless.
Firms should be mindful of the recent amendments to the rules under that require additional recordkeeping regarding performance reporting. See .