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New Administrative Penalties Against Individuals and Private Companies as Part of Mexico's Fight Against Corruption

by White & Case LLP on

On July 19, 2017, Mexico's new General Law on Administrative Accountability will take effect, imposing serious penalties on individuals and private companies that violate it, and requiring companies to adopt and implement...more

"Key Takeaways: Recent Investment Management Litigation and Regulatory Developments"

On February 28, 2017, Skadden hosted a webinar titled “Recent Investment Management Litigation and Regulatory Developments.” The Skadden panelists were litigation partners Eben Colby and Seth Schwartz, securities enforcement...more

SEC Enforcement Against Private Equity Firms - A Focus on Disclosure, Fees, and Conflicts of Interest

by King & Spalding on

The Securities and Exchange Commission announced two settled enforcement actions against private equity fund advisers last week involving certain fee practices and potential conflicts of interest. Consistent with its...more

SEC Affirms Sanctions on Stanford’s CCO

by Burr & Forman on

The SEC recently affirmed its ALJ’s ruling barring Alan Stanford’s former CCO from the industry and ordering monetary penalties of $260,000 together with $591,992 in disgorgement. The Commission held the CCO approved false...more

Will the “Yates Memo” Impact Maryland State Prosecutions?

by Pessin Katz Law, P.A. on

“SEC. 3. (a) The Attorney General shall: (1) Prosecute and defend on the part of the State all cases pending in the Appellate Courts of the State, in the Supreme Court of the United States or the inferior Federal Courts,...more

SEC Issues Settled Enforcement Action Against Investment Adviser, its President and Senior Officers for Compliance Program...

by Dechert LLP on

The U.S. Securities and Exchange Commission (SEC or Commission) issued a cease and desist order (Order) on June 23, 2015, against Pekin Singer Strauss Asset Management Inc. (Adviser), an investment adviser registered under...more

SEC Commissioner Gallagher: Guidance is Needed For IA CCOs

by Dorsey & Whitney LLP on

SEC Commissioner Daniel Gallagher published a statement explaining his dissent in two recent enforcement actions in which the Chief Compliance Officer of an investment adviser was charged, noting that the trend in such...more

CorpCast Episode 7: Better Know a Judge: the Honorable Mary M. Johnston of the Delaware Superior Court [Audio]

by Morris James LLP on

In our second installment of “Better Know a Judge,” we welcome the Honorable Mary M. Johnston of the Delaware Superior Court in New Castle County. Judge Johnston, who is a member of the Superior Court’s Complex Commercial...more

Upper Tribunal Expresses "Wholesale Disagreement" With FCA's Assessment Of Level Of Financial Penalty To Be Imposed On...

by Allen & Overy LLP on

In December 2014, the tribunal handed down a decision that partly upheld the FCA's findings in respect of Ms Burns in connection with her conduct as a non-executive director (CF2) of two mutual societies. The tribunal found...more

Firm Sanctioned for Breach of Fiduciary Duty and Violation of the Compliance Rule

The SEC sanctioned a registered investment adviser for breaching its fiduciary duty by failing to disclose to its clients a conflict of interest created by a portfolio manager’s outside business activity and personal...more

CorpCast Episode 4: Better Know a Judge: Vice Chancellor J. Travis Laster of the Delaware Court of Chancery [Audio]

by Morris James LLP on

On this episode of CorpCast, we’re honored to welcome Vice Chancellor J. Travis Laster of Delaware’s Court of Chancery. In addition to discussing the reasons he came to Delaware to practice law, the Vice Chancellor shares...more

SEC Files Offering Fraud and Ponzi Scheme Cases

by Dorsey & Whitney LLP on

A staple of SEC enforcement in recent years has been offering fraud and Ponzi scheme cases. This week the Commission filed two more of these actions, one an offering fraud targeting military personnel and a second and...more

SEC Charges Former CEO, Firm Based On Concealed Perks

by Dorsey & Whitney LLP on

The former President and CEO of a public company repeatedly charged personal expenses to the firm largely by falsifying documents and records. Although the executive admitted certain misdeeds to internal investigators...more

SEC Accuses Fund Directors of Breaching Their Valuation Duties

by Morrison & Foerster LLP on

In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive...more

SBA Rules Changes – Definition of a Small Business

In the quest to compete and survive, small businesses should embrace all opportunities for revenue growth available to them. One of the largest potential customers in the world is the US Government. Small businesses have a...more

NLRB Cases Impact At-Will Employment Agreements

Most employment agreements in California are for at-will employment. This means that the employer can terminate the employee at any time, with or without cause, so long as termination is not for a reason otherwise unlawful...more

Employer Liability for Unreported Time

A recent decision by the Sixth Circuit Court of Appeals held that a nurse’s claim for unpaid wages attributed to working during unpaid meal breaks, did not violate the Fair Labor Standards Act (“FLSA”). White v. Baptist...more

Notes For General Counsel

A recent article on the Practical Law website, identified major horizon issues for General Counsel. We highlight a selected sample of these issues by subject area below: Commercial: Green Guides The FTC issues revised...more

Securities Litigation Alert: 'Tis the Season: Proxy Statements and Litigation Challenges to Compensation Disclosures

by Fenwick & West LLP on

Over the past several months, plaintiffs' lawyers have stepped up attacks on executive compensation disclosures in proxy statements. Although to date most of these attacks have been unsuccessful, the number of case filings is...more

Privacy Enforcement By California Attorney General’s Office

California takes citizen privacy rights seriously. That’s the unmistakable message communicated by a recent announcement that the Office of the Attorney General of California is creating a Privacy Enforcement and...more

SEC’s Asset Management Unit Focuses on Compliance Failures, Vol. 1

by Brooks Pierce on

The SEC Enforcement Division’s Asset Management Unit has brought some substantial cases over the last year, including a number arising out of its Aberrational Performance Inquiry. Another focus for the unit has been...more

Governor Signs New Law On Disability Access Complaints

California has been a haven for plaintiffs’ attorneys suing for ADA (American With Disabilities Act) violations because of existing law that provided up to $4000 in statutory damages, along with attorneys fees for every...more

Plaintiffs’ Firms Gaining Steam in New Wave of Say-On-Pay Shareholder Suits?

Over two years ago, Congress enacted Section 951 of the Dodd-Frank Act, which requires public companies to conduct an advisory shareholder vote on the company’s executive compensation plan – the so-called “say-on-pay vote.”...more

NLRB Cases Impact At-Will Employment Agreements

Most employment agreements in California are for at-will employment. This means that the employer can terminate the employee at any time, with or without cause, so long as termination is not for a reason otherwise unlawful...more

Chancery Court Finds Management Services Agreement Key in Establishing Jurisdiction

by King & Spalding on

On August 28, 2012, the Delaware Court of Chancery found that a management services agreement could help establish both personal jurisdiction through a conspiracy to defraud and joint and several liability through an agency...more

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