SEC Commissioner calls for more guidance on in-house counsel’s supervisory roles
After a five-year-long Securities and Exchange Commission (SEC) probe, Theodore Urbans name has finally been cleared.
March 05, 2012 at 07:18 AM
2 minute read
The original version of this story was published on Law.com
After a five-year-long Securities and Exchange Commission (SEC) probe, Theodore Urban's name has finally been cleared.
In 2007, Urban, who was the GC of broker-dealer Ferris, Baker Watts Inc., became suspicious of the trading activity of broker Stephen Glantz. After unsuccessfully urging senior executives to fire Glantz, the SEC launched an investigation. Later that year, Glantz pleaded guilty to one count of stock fraud and one count of making a false statement, and was sentenced to 33 months in prison.
But the SEC wasn't done examining the matter. For five years, the agency investigated Urban—who had been with Ferris since 1984 and retired in 2007—to determine whether he had failed as a supervisor.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250