News & Analysis as of September 18, 2024

Cybersecurity › Investor Protection

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

SEC Publishes FY22-26 Strategic Plan

Mayer Brown Free Writings + Perspectives on 12/7/2022

On November 23, 2022, the SEC released its strategic plan for fiscal years 2022 to 2026. The plan focuses on three goals: protect the investing public against fraud, manipulation, and misconduct; develop and implement a...more

The Devil Really is in the Details: The SEC Proposed Rule on Cybersecurity Risk Management for Investment Advisors, Registered...

Moore & Van Allen PLLC on 8/9/2022

Late last month the Securities and Exchange Commission (“SEC”) charged JP Morgan, UBS and Trade Station with violations of Regulation S-ID based on a range of inadequacies in their identity theft red flag policies and...more

SEC Proposes Cybersecurity Rule for Advisers, Investment Companies

Burr & Forman on 2/14/2022

On February 9, the SEC proposed new cybersecurity risk management regulations for investment advisers, registered investment companies (funds), and business development companies....more

Financial Brokers Warned by FINRA of Imposter Websites

Robinson+Cole Data Privacy + Security Insider on 8/28/2020

The Financial Industry Regulatory Authority (FINRA) recently warned financial professionals that imposters are attempting to collect personal information of investors by spoofing financial professionals’ websites, reaching...more

OCIE Releases 2020 Examination Priorities

Dechert LLP on 2/1/2020

The 2020 Examination Priorities of the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission were announced on January 7, 2020, and cover eight broad topics: - Protection...more

SEC’s Enforcement Division Releases 2019 Annual Report: Asset Management Industry Enforcement Leads to Record Numbers

Dechert LLP on 12/3/2019

The Enforcement Division (Division) of the Securities and Exchange Commission released its Annual Report on November 6, 2019, summarizing the year’s enforcement activity. It was a record-setting year for the Division due to...more

European Supervisory Authorities Publish Joint 2020 Work Programme

A&O Shearman on 10/11/2019

The Joint Committee of the European Supervisory Authorities has published its 2020 work program, outlining revisions to the Joint Committee’s scope of work and the matters it will focus on in 2020. The Joint Committee...more

Newsflash: OCIE Risk Alert Identifies Reg. S-P Compliance Issues

Dechert LLP on 4/23/2019

The Staff of the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission released a Risk Alert on April 16, 2019, which identifies significant Regulation S-P (Reg. S-P)1...more

Skadden's 2019 Insights: SEC Continues Steady Progress With Regulatory, Enforcement Goals

Skadden, Arps, Slate, Meagher & Flom LLP on 1/21/2019

As the Securities and Exchange Commission (SEC) enters the third year of the Trump administration, its regulatory and enforcement goals remain largely unchanged. At the direction of Chairman Jay Clayton, the SEC continues to...more

SEC Enforcement Division Releases 2018 Annual Report

Dechert LLP on 12/7/2018

On November 2, 2018, the SEC Enforcement Division (“Division”) released its Annual Report summarizing the past year’s enforcement activity. In the 2018 fiscal year, the first full fiscal year that Stephanie Avakian and Steven...more

Investment Services Regulatory Update - October 2018

Vedder Price on 12/3/2018

New Rules, Proposed Rules, Guidance and Alerts - SEC STAFF GUIDANCE AND ALERTS – SEC Staff No-Action Letter Allows Fund Boards to Rely on CCO Representations for Affiliated Transactions – In a no-action letter to the...more

SEC Enforcement Division Issues Annual Report: Increase in Enforcement Actions and Focus on Main Street and Cyber-Related Fraud

Skadden, Arps, Slate, Meagher & Flom LLP on 11/8/2018

On November 2, 2018, the U.S. Securities and Exchange Commission (the SEC or Commission) Division of Enforcement (the Division) released its annual report discussing enforcement-related actions and key initiatives (the...more

Tennessee Securities Regulator is President-Elect of NASAA

Burr & Forman on 10/2/2018

Frank Borger-Gilligan, Tennessee’s chief securities regulator, last week was selected as President-Elect of the North American Securities Administrators Association (“NASAA”) at the annual meeting in Anchorage, Alaska. ...more

New Disclosure Rules Enhance Crypto Investor Protection

Kramer Levin Naftalis & Frankel LLP on 9/5/2018

Amid concerns that many investors may not fully understand the risks associated with virtual currencies, or the limits of regulatory oversight, the National Futures Association (NFA) recently issued an interpretive notice...more

SEC 2018 Examination Priorities Match Chairman Clayton’s Priorities as Reflected in the Agency’s Budget Request

Dechert LLP on 3/9/2018

This year’s examination priorities of the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) were announced on February 6, 2018, and cover five broad, albeit...more

The SEC’s Cyber Unit Files Its First Complaint Against an “Initial Coin Offering”

Burr & Forman on 12/7/2017

Implemented in September, the Securities Exchange Commission’s (“SEC”) Cyber Unit has brought its first enforcement action against an “Initial Coin Offering” (“ICO”) called PlexCoin. ICOs, which are listed on digital...more

The Numbers Don’t Lie: The SEC Pursues a More Streamlined Enforcement Agenda

Sheppard Mullin Richter & Hampton LLP on 11/30/2017

One of the most eye-catching items in the recently released 2017 Annual Report of the Enforcement Division of the Securities and Exchange Commission (SEC or the Commission) is the significant decline in enforcement activity...more

SEC Enforcement Division Releases 2017 Annual Report as Industry Looks Ahead to 2018

Dechert LLP on 11/29/2017

Stephanie Avakian and Steven Peikin, the new Co-Directors of the U.S. SEC Enforcement Division (“Division”), released a report on November 15, 2017, summarizing the Division’s enforcement activity for the fiscal year ending...more

SEC Focuses on Initial Coin Offerings: Tokens May Be Securities Under Federal Securities Laws

Dechert LLP on 9/13/2017

The U.S. Securities and Exchange Commission (SEC) has recently taken several actions to make clear that it is focused on and actively monitoring the rapidly growing market for so-called “token sales” or “initial coin...more

SEC's New Rule Requires Additional Disclosures on Form ADV

Bracewell LLP on 1/30/2017

On January 12, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) published its 2017 examination priorities.1 OCIE’s 2017 priorities, which largely mirror its 2016 priorities, cover three areas: (1)...more

A Compilation of Enforcement and Non-Enforcement Actions

Foley & Lardner LLP on 2/3/2016

Non-Enforcement - FINRA’s Proposed Pay-to-Play Rule Will Impact Investment Advisers - Late last year (December 24, 2015), the Financial Industry Regulatory Authority (FINRA) submitted a proposed rule to the U.S....more

SEC’s 2016 Examination Priorities Focus on Retail Investors, Market Wide Risk and Use of Data Analytics

Proskauer - Corporate Defense and Disputes on 1/13/2016

The recently issued Examination Priorities for 2016 reveals that the SEC’s priorities are organized around the same three thematic areas as last year: (i) retail investors, including retirement investments; (ii) market-wide...more

SEC Exam Priorities for 2016

Dorsey & Whitney LLP on 1/12/2016

The SEC’s Office of Compliance Inspections and Examinations or OCIE announced its examination priorities for 2016. Those priorities generally “reflect certain practices and products that OCIE perceives to present potentially...more

FINRA Letter Announces Cybersecurity as 2016 Exam Priority

Dechert LLP on 1/11/2016

The Financial Industry Regulatory Authority (“FINRA”) released its annual Regulatory and Examination Priorities Letter on January 5, listing cybersecurity as a 2016 examination priority. This letter broadly identifies new and...more

Investment Management Legal + Regulatory Update - November 2015

Morrison & Foerster LLP on 11/18/2015

Regulation - OCIE Cautions Advisers on Outsourcing Compliance Activities: In a Risk Alert dated November 9, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) said it found that outsourced...more

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Cybersecurity › Investor Protection

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