The legislation - passed via the first congressional override of the Trump presidency - extends the SEC’s ability to obtain disgorgement for violations of federal securities laws.
Key Points:
..As amended, the...more
1/4/2021
/ Congressional Override ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Liu v Securities and Exchange Commission ,
Look-Back Measurement Period ,
NDAA ,
Presidential Veto ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Statute of Limitations
Questions about the scope of the SEC’s disgorgement authority remain open, including in administrative proceedings.
Key Points:
..Since the April 2017 decision in Kokesh v. SEC, the statutory authority of the Securities...more
6/24/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC)
The decision indicates that company counsel should consider early how best to anticipate challenges to privilege claims over investigation materials.
Introduction -
A recent English High Court decision has important...more
Venezuela’s initiative is unlikely to set the stage for a restructuring of international obligations in the face of US sanctions.
Key Points:
- US sanctions will prohibit US persons from engaging in a restructuring of...more
Corporations should take steps to ensure their internal investigations are not used against them in English litigation.
A recent decision in an English court could have important consequences for internal corporate...more
7 steps companies can take to maximize privilege protections under US and English law.
Key Points:
..In a recent case, an English court stated that privilege did not apply to notes of employee interviews,...more
The agency’s updated advisory for companies and first-ever guidance for individuals shed additional light on its approach for recognizing cooperation.
On January 19, 2017, the Division of Enforcement (Division) of the...more
Broker-dealers with historical or ongoing instances of non-compliance with the SEC’s Customer Protection Rule are encouraged to self-report by November 1, 2016.
On June 23, 2016, the Securities and Exchange...more
6/29/2016
/ Broker-Dealer ,
Compliance ,
Cooperation ,
Customer Protection Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Individual Accountability ,
OCIE ,
Section 15(c) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Self-Reporting
The BIC Exemption to the new DOL Fiduciary Rule offers some relief, but at a potentially prohibitive cost.
The US Department of Labor (the DOL) recently forced the most significant change to the investment community...more
6/23/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Notice Requirements ,
Recordkeeping Requirements ,
Required Documentation