General Business Securities Science, Computers & Technology

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New Year, Similar Priorities: SEC Announces 2017 OCIE Areas of Focus

On January 12, 2017 the SEC announced its Office of Compliance Inspections and Examinations (OCIE) priorities for the year, including areas of focus for Retail Investors, Senior Investors and Retirement Investments,...more

Law Firm Data Breaches Demonstrate the Expanding Scope of Cyber Attacks

In a case of “cyber meets securities fraud,” the United States Attorney’s Office for the Southern District of New York (“SDNY”) recently indicted three foreign nationals on charges of insider trading, wire fraud, and computer...more

Cybersecurity Still Top FINRA Operational Risk

On January 4, the Financial Industry Regulatory Authority (FINRA) published its annual Regulatory and Examination Priorities Letter providing firms with information about areas FINRA plans to review in 2017 as well as...more

Day 9 of 30 Days to a Better Compliance Program, Continuous Improvement [Video]

No area has become more challenging in compliance than continuous improvement. The FCPA Guidance specifies that “a good compliance program should constantly evolve. A company’s business changes over time, as do the...more

Back to the Future: 2017 [Expect Focus Life Insurance – December 2016]

- Should Your Company Purchase Bitcoin to Pay a Cyber Ransom? - NAIC Draws Line in CFPB Sandbox - NAIC’s Big Data Task Force Sets Charges for 2017 - Broker-Dealers Can Hold Customers’ Initial Checks...more

Three Chinese Citizens Charged with Hacking New York Law Firms

Preet Bharara, the U.S. Attorney for the Southern District of New York announced that three Chinese citizens have been charged for attempting to hack into seven law firms that were involved in mergers and acquisitions, in...more

Your Daily Dose of Financial News

Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more

FINRA’s 2017 Regulatory & Exam Priorities

On January 4, new President and CEO Richard Cook issued FINRA’s Annual Regulatory and Examination Priorities Letter. This year’s list in summary is: New for 2017: Targeted electronic off-site reviews “on select...more

Your Daily Dose of Financial News

The Fed’s anticipating faster growth in the coming year and rate increases to go with it. That and a whole lot of uncertainty about the incoming administration are the big takeaways from the Fed’s December meeting minutes....more

Valuation Disconnect Leads to 2016 IPO Drought

2016 turned out to be a terrible year for IPOs, both in terms of number of deals and aggregate proceeds. According to Renaissance Capital’s U.S. IPO Market 2016 Annual Review, only 105 companies went public on U.S....more

Your Daily Dose of Financial News

The December 22 announcement that Deutsche Bank had settled with the DOJ over long-standing RMBS-related claims and investigations for a reported $7.2 billion prompted this Times long-read that traced the Icarus-like rise and...more

SEC and OCC Seek Accommodation with Fintech Firms

In November, industry participants and their regulators convened at the SEC for a special forum on the use of financial technology (fintech). In recent years, large amounts have been invested in fintech platforms such as...more

Shareholders Derivative Suit Filed against Wendy’s for Data Breach

Continuing the trend of filing a shareholders derivative suit following a data breach, a Wendy’s shareholder recently filed a derivative suit against Wendy’s executives and board members alleging they did not adequately...more

TechConnect - Your Law Firm Link to Industry News - December 2016

Letter from the Editors - Dear Readers, Our client, Benji Cohen, was running an Energy Markets Division at Macquarie when he had a lightbulb moment. Everywhere he looked valuation models were being put together in...more

This Week in FCPA-Episode 33-the Holiday Season [Video]

Show Notes for Episode 33, week ending December 23, 2016-Holiday edition 1. Odebrecht/Braskem FCPA enforcement action and its global scope and implications. 2. Goldman Sachs further ensnared in 1MDB scandal-C-Suite level...more

Eleventh Circuit Confirms that Issuers are not Required to Disclose Retention of Outside Promotional Firms

On December 15, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed the dismissal of a securities class action against Galectin Therapeutics Inc., a Georgia-based biotechnology company. The suit...more

Dismissal for Drugmaker Affirmed: Galectin Had No Duty to Disclose Payments to Promoters

In re: Galectin Therapeutics, Inc. Securities Litigation, No. 16-10324, 2016 WL 7240146, ____ , F2d ___ (11th Cir. Dec. 15, 2016). The Eleventh Circuit recently addressed the circumstances under which a public company...more

FCPA Compliance Report-Episode 295-Juliet Lui on cost effective small and medium compliance investigations [Video]

In this episode I visit with Juliet Lui as we discuss how to best handle small and medium investigations in an efficient and cost effective manner. We discuss how such matters often slip through the cracks as they are not...more

Newest MNvest Crowdfunding Portal To Rely on Blockchain Technology

An equity and debt based crowdfunding portal built on Blockchain technology is set to begin offering crowd-sourced financing opportunities to non-accredited investors under Minnesota’s MNvest crowdfunding legislation. Silicon...more

Shareholders’ Derivative Suit Against Home Depot Dismissed

On November 30, 2016, The Home Depot, Inc. (Home Depot) got a victory in the shareholders’ derivative suit filed against it for its alleged failure to institute necessary controls to secure its data relating to its 2014...more

Your Daily Dose of Financial News

A NY state court threw out Ace Decade Holdings’ suit against UBS accusing the Swiss lender of fraud for its $500 million investment loss in a Chinese company. The court found that jurisdictional issues plagued plaintiff’s...more

Your Daily Dose of Financial News

With Fitch and DBRS [by most measures, the #3 and #4 rating agencies in a 3-player game] doling out AAA ratings for bonds backed by non-qualified mortgages that Moody’s has dubbed “risky.” Well worth keeping an eye on this...more

Home Depot Cyber Derivative Action Shuttered: Another Data-Breach Derivative Suit Fails to Clear Fundamental Corporate Law Hurdles

The recent dismissal of a Home Depot derivative action ends a string of high-profile derivative suits stemming from large-scale corporate data breaches. On November 30, the Northern District of Georgia dismissed a shareholder...more

Your Daily Dose of Financial News

Blackstone is spinning off a new housing maintenance and rental venture in the form of Invitation Homes LP, which could see an IPO as early as January 2017. Invitation Homes is the culmination of a four-year, $10 billion...more

Your Daily Dose of Financial News

Federal regulators are on the verge of creating a brand new type of banking license specifically for fintech. Called “special purpose national bank charters,” the licenses are intended to enable fintech companies that accept...more

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