Effective November 1, 2023, the United States Sentencing Commission’s Amendment 821, also known as the “2023 Criminal History Amendment,” has officially become part of the federal sentencing guidelines. Thousands of...more
On June 23, the Supreme Court held that proceedings in federal district court must be stayed during an interlocutory appeal from an order declining to enforce an arbitration agreement. Such an order can be appealed...more
The United States Supreme Court has ruled in an 8-1 decision that the U.S. government has broad authority to dismiss whistleblower actions over the individual whistleblower’s objections so long as the government intervenes...more
6/23/2023
/ Dismissals ,
False Claims Act (FCA) ,
Objective Standard ,
Qui Tam ,
Relators ,
Scienter ,
SCOTUS ,
Statutory Authority ,
Subjective Standard ,
United States ex rel Polansky v Executive Health Resources Inc ,
Whistleblowers
The Corporations, Securities, & Commercial Licensing Bureau of the Michigan Department of Licensing and Regulatory Affairs ("the Bureau") has issued new Securities Rules interpreting and enforcing the Michigan Uniform...more
The SEC Speaks conference held in Washington, D.C., on April 8-9, 2019 offered perspectives from the current Securities and Exchange Commission Chairman, Commissioners, Division Directors, and Staff about the current...more
4/15/2019
/ Best Interest Standard ,
Corporate Officers ,
Digital Assets ,
Enforcement Actions ,
Investment Funds ,
Lorenzo v SEC ,
OCIE ,
Proposed Rules ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC)
The U.S. Supreme Court has held that administrative law judges (ALJs) of the Securities and Exchange Commission are "Officers of the United States" under the Appointments Clause of the U.S. Constitution, and are not mere...more
6/26/2018
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appeals ,
Appointments Clause ,
Constitutional Challenges ,
Corporate Counsel ,
Enforcement Actions ,
Final Written Decisions ,
Lucia v SEC ,
Officers of the United States ,
Remand ,
Reversal ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Special Trial Judges (STJs)
As noted in our December 9, 2016, Client Alert, the Supreme Court in Salman v. U.S. ruled that the required “personal benefit” to the person disclosing inside information (the tipper) does not need to be “pecuniary” or...more
8/30/2017
/ Appeals ,
Criminal Convictions ,
Dirks v SEC ,
Gifts ,
Illegal Tipping ,
Insider Trading ,
Personal Benefit ,
Pharmaceutical Industry ,
Quid Pro Quo ,
Tippees ,
Tippers ,
US v Newman ,
US v Salman
The U.S. Supreme Court continues to limit the timeframe in which the U.S. Securities and Exchange Commission (“S.E.C.”) can seek to levy monetary penalties in enforcement actions it brings against violators of the federal...more
To be liable for insider trading in violation of the federal securities laws, the insider “tipper” who discloses the inside information must personally benefit, directly or indirectly, from his disclosure to a “tippee” who...more
Plaintiffs who failed in their state worker’s compensation claim cannot sue their employers and their medical experts under federal civil racketeering laws, the en banc 6th U.S. Circuit Court of Appeals has ruled....more