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Enhanced SEC Enforcement search now live on Securities Mosaic

December 11, 2019

This morning, we unveiled a new-look SEC Enforcement search page, which includes numerous upgrades and enhancements.  Customers have long asked for the ability to search on a specific statute or rule allegedly violated by a defendant, and with the newly redesigned tool, now they can do just that.  They can also search for enforcement actions overseen by a specific Administrative Law Judge, or search for specific document titles.  Additionally, we now aggregate all enforcement releases that are part of a common enforcement action, so you no longer have to wonder which documents associated with a given defendant are part of which case.

Use the enhanced SEC Enforcement search page for the following tasks, among others.

  • Perform due diligence on individuals or companies to see if they have been involved in any SEC enforcement actions
  • Benchmark trends in enforcement, including the assessment of penalties and other relief, for specific types of violations and scenarios
  • Use this information to counsel clients in the following ways:
    • Perform a risk assessment of a client’s contemplated action, to determine the likelihood and severity of potential enforcement
    • Advocate for clients who are already in trouble, knowing what enforcement remedies are standard for that violation based on existing precedent

Questions?  Contact our Research Support team at or by calling us at 888-925-8627.

Redesigned navigation bar and new Laws, Rules, Agency Materials search coming to Securities Mosaic this weekend

May 9, 2019

In the next few days, some high-visibility improvements are coming to Lexis Securities Mosaic.

Most noticeably, we are redesigning and rearranging our navigation to make it more logical and user-friendly.  The new navigation bar better foregrounds those features and content that are unique to, or especially strong points for, Securities Mosaic.


What does that mean, exactly? Two things. First, assets like our Investigation and Enforcement searches, SRO materials, and SEDAR content will now be immediately visible when you land on Securities Mosaic. Second, users will have the option to see all content and features on Securities Mosaic at once, in a single view, by expanding the menu with a click:

LSM New Nav expanded

The idea is to help you get better value from the product by seeing features and content that may not have been on your radar.

Another big change is our redesign of the old Laws, Rules, & Agency Materials search page. All the same content will now be available in two new dedicated search pages, Agencies & SROs and Laws & Regulations. (Scroll all the way to the bottom of this blog post to see screenshots.) Again, one of our goals here was to make key content more discoverable. So, for example, things like SEC Regulations, the Dodd-Frank Act, and SROs are now plainly visible in the top-level search form. Moreover, by creating dedicated search page for these two broad content areas, we can offer functionality tailored to these two broad categories of content.  I’ll offer two examples.

First, we’ve added a QuickFind tool to Laws & Regulations. This is a significant enhancement in that it that makes pulling specific laws and statutes easy and intuitive. In the old search environment, you’d have to know, and accurately type in, the complete official US Code or CFR citation for a given law or rule. But most practitioners don’t use the complete citation; they use shorthand like “Regulation S-K” or “Section 16” or “Rule 10b-5”.  The new QuickFind lets you search by such shorthand terms:


Second, we now allow searching by practice area topic on Agencies & SROs. This functionality is not only a new option on the search page, it’s also accessible directly from the navigation bar. Use the topic feature to limit your search to only those agencies (or SROs) and Federal Register notices relevant to the topic you choose.  Of course, you can further refine in the usual ways — by keyword, date, document type, and so on.

Agencies SROs by Topicfew other features round out this weekend’s release.  We’ve created a redesigned News page that is your new Swiss army knife for anything and everything related to the Securities Mosaic News Service: accessing the latest newsletter, viewing and editing your personal news reception preferences, accessing the news archive, or simply getting an overview of what’s available to you as a subscriber.

Finally, on the Securities Mosaic home page we’ve added two new “Quick Search” shortcuts: to SEC Agency Materials (available also under Agencies & SROs), and to our new (and awesome) Insider Search.

If you have any questions or comments, please reach out to our Customer Support team at or 1-888-925-8627.

Agencies SROs screenshot

Laws Regs screenshot

The recently released Insider Search page on Securities Mosaic is our most ambitious release in years

December 11, 2018

Last weekend, we released a completely revamped version of our search page for Insider Filings — EDGAR Forms 3, 4, and 5.  These filings, ubiquitous yet revelatory, are where company bigwigs and fat cats (a.k.a. Executives, Directors, and significant Beneficial Owners) publicly disclose their trading on the securities of that company.  The new, state-of-the-art tool — a collaboration between Lexis Securities Mosaic and Intelligize — offers a dozen new search filters along with major functionality enhancements.  It’s our most ambitious release in several years.


Image from Some rights reserved.

You can get more specific details in our last blog post, but here is a summary of the high-level capabilities offered by the new search page.  Use it to:

  • Track significant insider buying and selling and analyze trends, based on the criteria you specify
  • Identify, value, and benchmark equity compensation in the form of grants and options
  • Find similar transactions to locate precedent language or model disclosure to guide your own Form 4 disclosure
  • Identify the major stakeholders in a company or industry, either currently or historically

And who exactly might benefit from such capabilities?  The answer is as diverse as the disclosure itself, and includes:

  • Law firms advising corporations on matters related to executive compensation (stock purchase and other 10b5-1 plans, employment agreements, etc.)
  • Lawyers representing either side in shareholder litigation claims regarding: executive compensation issues – say-on-pay, etc.
  • Lawyers representing corporations (whether as outside or in-house counsel) heading into proxy season (to be in position to advise on exec compensation, pay ratio disclosure, etc.)
  • Public companies advising Section 16 execs who are considering open market transactions on how to disclose
  • In-house counsel and corporate secretaries preparing for proxy season (to be in position to advise on exec compensation, pay ratio disclosure, etc.)
  • Consultants who advise companies in the area of Executive Compensation and Employee Benefits
  • Lawyers representing either side in any litigation aimed at a company or individual (due diligence research, etc.)
  • Lawyers representing either side in shareholder litigation claims re: short swing profit violations or insider trading violations
  • Wealth managers, financial analysts, and investment advisers (for business development)
  • And of course, investors, day traders, — pretty much anyone who wants to follow the money.

If you have questions, feel free to reach out to us at or 888-925-8627.

Major upgrade to Securities Mosaic Insider Search coming soon

December 4, 2018

Pursuant to Section 16 of the Exchange Act, an issuing company’s directors, officers, and 10%+ beneficial owners (“insiders”) must disclose whenever they acquire or dispose of the securities of that company.  Insider transactions, disclosed in Forms 3, 4, and 5, may include open market cash purchases or sales, as well as equity compensation in the form of stock grants and awards, plus options exercises, conversions, and much more.

200398089-001We are excited to announce that we have completely rebuilt the Insider Search tool on Lexis Securities Mosaic to optimize our users’ ability to research, track, and understand this rich data.  To be released this weekend, the new search page will offer the following benefits:

  • Search on transactions by size, dollar value, and type of security acquired or disposed.  For example, instantly identify insider transactions in which more than $1 million in securities was sold for cash on the open market.
  • Filter by transaction type or category.  For example, you can limit your search to any transactions exempt under Rule 16b-3; or to securities acquired by inheritance.
  • Search by the dollar value of the owner’s holdings following a transaction.
  • Search on the aggregate value transacted in insider filings, as reflected in all the transactions within a given filing. You can look for a specific dollar range targeting the total acquired, total disposed, or the net change in value (whether positive or negative).
  • Text-search the crucial footnotes section of insider filings
  • Get a bird’s eye view of the insider reporting landscape with our new results display that provides a wide area of essential data points for each transaction
  • Export your results to Excel to get an even wider view, along with the ability to further slice and dice data for closer analysis
  • Create real-time alerts for all search/filter options

If you have questions, feel free to reach out to us at or 888-925-8627.


Announcing two recent enhancements on Securities Mosaic

June 7, 2018

In case you missed it, we’ve recently released two major product enhancements on Lexis Securities Mosaic.

On May 25, we unveiled a newly enhanced and redesigned version of our Investment Adviser page.  The new search tool allows users to pull historical Form ADVs that we’ve been archiving since 2012.  We’ve also added text search to allow users to search an adviser’s current registration in its entirety, including Part 2 materials.  Finally, new  filters include the ability to search on Customer Type and Advisory Services Provided.

On April 6, a newly enhanced version of our search page for Canadian SEDAR filings went live.  We added new filters for Recipient Province, Auditors, Latest CUSIP, Material Contracts, and others.  We also added new functionality including batch download, a share search feature, and the ability to save searches.

To see a full list of the product enhancements we’ve made to Securities Mosaic over the past several years, search on the “Product enhancements” category of this blog (or click here).

CFTC Unveils Blueprint for Swaps Rules Reboot

May 23, 2018

President Trump has declared the Dodd-Frank Act a “disaster” and has promised to drastically overhaul it.  But the Trump-nominated CFTC Chairman, J. Christopher Giancarlo, has so far shown a more measured approach to Dodd-Frank reform.

During a discussion at the International Swaps and Derivatives Association’s Annual General Meeting on April 26th, Giancarlo announced the release of a new white paper, Swaps Regulation Version 2.0: An Assessment of the Current Implementation of Reform and Proposals for Next Steps. Noting that the Chairman “has long been a public supporter of the swaps market reforms passed by the U.S. Congress in Title VII of the Dodd-Frank Act,” the paper, which Giancarlo co-authored with CFTC Chief Economist Bruce Tuckman, lays blame for problems in the swaps markets not with the Dodd-Frank Act’s mandated reforms, but rather with the CFTC’s implementation of those reforms. Similarly, the Wall Street Journal observed that the white paper represents “an update, rather than a repudiation, of Dodd-Frank,” with Giancarlo and Tuckman emphasizing they are looking for ways to “optimize” the existing swaps rules “to strike a balance between systemic safety and stability and market vibrancy and economic growth.”


Despite the authors’ criticism of the CFTC’s implementation of Dodd-Frank swaps reforms, the white paper determined that the agency’s approach to the Dodd-Frank’s mandate on swaps clearing — which it called “the most far-reaching and consequential of the swaps reforms” — has been “highly successful,” noting the substantial increase in the volume of swaps transactions cleared by central counterparties (“CCPs”). In other areas, particularly with respect to swaps reporting and swaps execution rules, the white paper concluded that the CFTC’s implementation was “flawed and ineffective,” maintaining that the rules adopted by the CFTC for swaps execution “missed the mark set by Congress” in the Dodd-Frank Act. Giancarlo and Tuckman suggest that the CFTC’s approach to the swaps execution rules, which restricted swaps execution to two methodologies, has resulted in the global fragmentation of swaps markets, increased market liquidity risk, and the transfer of swaps liquidity formation and price discovery away from swap execution facility (“SEF”) platforms.

To address the perceived shortcomings in the swaps execution rules, the paper proposes eliminating the current restriction on the methods of execution by allowing SEFs to offer any method of execution for swaps subject to the Trade Execution Requirement. According to The Wall Street Journal, Giancarlo told conference attendees that he plans to take action soon to advance a specific proposal to revise the swaps execution rules, which is expected to be released in July.

While Giancarlo hesitated to promise immediate action on other recommendations, the paper does set out ideas that could form the basis of future rulemaking or policy proposals. For instance, The Wall Street Journal notes that in the paper Giancarlo and Tuckman make the case for the use of Dodd-Frank-mandated orderly liquidation funds to ensure continuity of clearing services, should the failure of a CCP threaten the stability of the financial system. The embrace of Dodd-Frank’s orderly liquidation procedures comes on the heels of a similar recommendation by the Treasury Department for banking regulators to retain the Orderly Liquidation Authority for the resolution of complex financial institutions, which concluded that the much-maligned provision of Dodd-Frank was necessary to ensure financial stability. The authors call for the CFTC and the FDIC to work together on resolution planning for CCPs. Finally, maintaining that the current regime overestimates the risks for swaps, they call for regulators to rely more heavily on the internal risk models used by banks and their swap affiliates, and that current bank capital requirements be adjusted accordingly. These recommended changes would require action by international and other U.S. regulators.

Giancarlo has long advocated for changes to the CFTC’s swap execution rules, and the white paper reflects his commitment to prioritizing swaps rule reform in his role as CFTC chairman. However, the agency’s ability to implement his plan faces numerous hurdles. As Bloomberg recently pointed out, the proposals, which “mark the biggest policy shift for the agency during the Trump administration,” face a long road to adoption, as they would have to undergo the CFTC’s lengthy rulemaking process, including a public notice and comment period. Giancarlo announced that he plans to retire from the CFTC when his term expires next year, which may further hamper his ability to see the proposed reforms to fruition.

Finally, at least one major hurdle comes from Giancarlo’s own Republican party and the President who nominated him. The push for deregulation combined with the realities of tax reform– the Congressional Budget Office estimated that government revenue will decrease by $1.3 trillion over the next decade—has left many federal agencies with the need to tighten their belts. Giancarlo has lamented the fact that the CFTC is “not properly funded” and was “astounded” to learn that instead of approving his request for an annual budget increase of $31.5 million, Congress instead recommended a $1 million cut.  Ironically, then, the agency’s ability to reboot Dodd-Frank may be jeopardized by the very impulse that required it in the first place: the view that government is too big.

A small change to the Securities Mosaic home page, affecting readers of this blog

February 5, 2018

You may have reached this blog post by clicking through to it from the Lexis Securities Mosaic home page, where for years we’ve included a handy link to blogmosaic. That link will be changing soon, routing readers instead to the equally wonderful but much more frequently updated Intelligize blog.  Below is some Q&A on this change.

LSM homepage 2.5.18

Q:  Does this change mean blogmosaic is going away?

A:  No, blogmosaic will still be accessible at  If you have an RSS or social media feed set up, it will still work.

Q:  Why the change?

A:  Two related reasons.  First, because its content is updated regularly, the Intelligize blog better reflects Securities Mosaic’s commitment to offering current awareness and timely analysis. (Blogmosaic, in contrast, is updated only about once a month.) Second, we want to make sure our users know about Intelligize and are in a position to benefit from the insight of commentators like Phil Brown, Todd Hicks, Marc Butler, and Rob Peters.

Q:  I’m seeing more and more references to Intelligize within the Securities Mosaic product. Will this trend continue?  

A:  The important context here is that since 2016 Intelligize and Securities Mosaic have been partners in the larger LexisNexis family.  So, in addition to the small change described here, we’ve added Intelligize content to our Daily Securities News and a link to the Intelligize product from the Securities Mosaic navigation bar.  (Likewise, Intelligize has added a link to Securities Mosaic from within its product.)  Where there are similar specific opportunities for improving one product by drawing on assets from the other, or more generally for enhancing awareness and accessibility of both products, we will be open to them — even as we continue to build out the two products separately.