Goldman Allowed to Keep Issuing Securities
Headline Legal News
Goldman Sachs will remain qualified as an issuer of securities after settling civil fraud charges with the Securities and Exchange Commission this month, the agency ruled.
In a letter to Goldman’s legal counsel at the law firm Sullivan & Cromwell, the S.E.C. said that the settlement cleared a path for the firm to continue issuing securities under federal regulations.
As one of the world’s largest securities issuers, Goldman would have been placed into a tough spot if the S.E.C. had enjoined the firm from that business.
Under federal securities laws (and specifically Rule 405), the commission can deem a firm an “ineligible issuer” if within the past three years the brokerage had broken S.E.C. regulations.
Goldman’s settlement, announced almost two weeks ago, included the firm’s paying $550 million and admitting to mistakes in its marketing materials. What it didn’t do was require the firm to admit to wrongdoing alleged by the S.E.C. regarding a mortgage-linked investment.
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U.S. Citizenship and Immigration Services (USCIS) is continuing to implement the June 28, 2018, Policy Memorandum (PM), Updated Guidance for the Referral of Cases and Issuance of Notices to Appear (NTAs) in Cases Involving Inadmissible and Deportable Aliens (PDF, 140 KB).
USCIS may issue NTAs as described below based on denials of I-914/I-914A, Application for T Nonimmigrant Status; I-918/I-918A, Petition for U Nonimmigrant Status; I-360, Petition for Amerasian, Widow(er), or Special Immigrant (Violence Against Women Act self-petitions and Special Immigrant Juvenile Status petitions); I-730, Refugee/Asylee Relative Petitions when the beneficiary is present in the US; I-929, Petition for Qualifying Family Member of a U-1 Nonimmigrant; and I-485 Application to Register Permanent Residence or Adjust Status (with the underlying form types listed above).
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