News & Analysis as of

Audits Enforcement Actions

If You Give a Mouse a Cookie: Ongoing Regulatory Monitoring Increasing in Federal and State Non-Compliance Resolution

Earlier this year we highlighted the growing trend of regulators asserting continuing post-investigation control over the operations of companies accused of compliance failures. At the state level, we highlighted a deal...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

A jury in Connecticut largely acquitted three former Nomura Securities RMBS trades charged with conspiracy, securities and wire fraud tied to allegations that the securities were mismarked. This is the second criminal case...more

No Immigration Surprises in President’s Proposed Budget - Mandatory E-Verify, Boosted Enforcement Among Priority Requests

by Fisher Phillips on

President Trump’s proposed budget released by the White House earlier this week contains no real surprises when it comes to the immigration provisions. The budget supports President Trump’s promises to increase immigration...more

News Round Up - April 2017

by Morrison & Foerster LLP on

Momentum Builds in the U.S. IPO Market - Renaissance Capital reported a strong start to the year in its U.S. IPO Market 1Q 2017 Quarterly Review. The first quarter of 2017 saw 25 IPOs, which raised $9.9 billion, a jump...more

Saudi Arabia Approves New Corporate Governance Regulations

by Dechert LLP on

The publication of the Regulations is driven by the continued effort to attract additional foreign investment into the Kingdom and to harmonize the CMA’s own rules with those of the newly revised Companies Law2, as overseen...more

The I-9: How Much Trouble Can One Piece Of Paper Cause?

by Fisher Phillips on

No new hire has ever been accused of enjoying the time spent filling out the myriad forms they must execute at the outset of their employment. Likewise, it would be a curious manager who listed “helping new hires with...more

Bridging the Week - January 2017 #3

New Acting CFTC Chairman Provides Insight Into Priorities: In a speech before SEFCON VII on January 18, J. Christopher Giancarlo, the new acting chairman of the Commodity Futures Trading Commission, laid out his priorities...more

2016 Year In Review: Securities Litigation And Regulation

2016 was an active year in securities litigation. In the first half of 2016 alone, plaintiffs filed 119 new federal class action securities cases. It was also a busy year for SEC enforcement proceedings, with a record 868...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

In a holiday shortened week, the SEC brought actions involving: a financial fraud naming against the president of the firm who, assisted by two other officers named as defendants in an earlier Commission enforcement action,...more

SEC Charges Audit Firms With Unprofessional Conduct

by Dorsey & Whitney LLP on

When Congress created the PCAOB many commentators thought that actions against accounting firms and their professionals would be handled by the Board rather than the SEC. While the Board does conduct investigations and bring...more

"Skadden Energy Law Handbook: Fourth Edition (November 2016)"

Skadden’s Energy Regulation and Litigation Group is pleased to provide the fourth edition of the Skadden Energy Law Handbook, which includes a summary of recent developments. The handbook contains 16 chapters covering a broad...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission brought actions this week centered on the failure to properly conduct audits, an offering fraud and for acting as an unregistered broker. FINRA sanctioned eight firms for failing to adequately supervise the...more

Issuer Reporting and Disclosure Remains Focus of SEC and Other Regulators

by Perkins Coie on

In a recent speech, SEC Enforcement Director Andrew Ceresney confirmed the SEC’s continued pursuit of investigations and enforcement actions relating to issuer reporting and disclosure, an area that remains a high priority...more

New Delaware Unclaimed Property Decision Further Complicates Landscape

by McDermott Will & Emery on

Another federal judge slams Delaware’s unclaimed property audit methodology but rejects the holder’s reliance on the priority rules as a defense to the audit demands. See Marathon Petroleum Corp. et al. v. Cook et al., No....more

CBP’s Informed Compliance Letters Notify Importers That an Audit or Enforcement Action May Follow

U.S. Customs and Border Protection (CBP) recently issued letters to major U.S. importers that encourage the recipients to review their recent trade data and CBP’s Informed Compliance Publications (ICPs), and remind them of...more

Tokyo Dispute Resolution and Crisis Management Newsletter - July 2016

by King & Spalding on

FCPA Best Practices - The Risks Posed by Third Parties and the Importance of Third-Party Audits - Introduction - Since 2010, the United States government has extracted just shy of $5 billion in corporate...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission settled another FCPA action centered on the efforts of a Chilean airline to resolve its labor issues. The agency also filed four offering fraud actions: one based on an internet fraud; a second centered on the...more

SEC Staff Throws Funds a Lifeline on Auditor Independence (For Now)

The SEC’s Division of Investment Management provided temporary relief from the headache created for funds when the failure to meet the provisions of the so-called “loan rule” may disqualify fund auditors from being...more

As Affordable Care Act Enforcement Looms, Some Lessons Learned From Massachusetts

As the ACA audit era approaches, many employers are wondering: what will happen? What sorts of documentation will the IRS request? What industries will be targeted? And what can employers do to prepare? In this post, I...more

OIG Spring 2016 Semiannual Report to Congress Highlights Enforcement/Investigative Accomplishments

by Reed Smith on

The OIG has issued its Spring 2016 Semiannual Report to Congress, which describes significant enforcement and investigative activities relating to HHS programs during the first half of FY 2016 (October 1, 2015 – March 31,...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission prevailed at trial this week, securing a favorable verdict after a two week jury trial. The action centered on false statements made by an executive regarding regulatory approvals for the only drug of the...more

SEC Sanctions Audit Firm, Partner Tied to Custody Rule

by Dorsey & Whitney LLP on

Custody Rule cases are rapidly becoming a staple of SEC enforcement. Rule 206(4)-2 requires registered investment advisers with custody of client funds or securities to implement certain controls to protect those assets....more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The SEC requested comment on the development of a consolidated audit trail this week, a concept long discussed. The audit trail would enable regulators to track trading activity in the U.S. markets. Enforcement initiated...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission prevailed at trial in a market manipulation case. The trial followed a series of settlements and a grant of summary judgment in the Commission’s favor as to one defendant. The remaining defendant, a former NFL...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission prevailed on a summary judgment motion this week in a case based on an offering fraud. It also filed another settled FCPA action centered on gifts, travel and entertainment provided to healthcare professionals...more

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