News & Analysis as of

Derivatives Disgorgement

Proskauer - Blockchain and the Law

CFTC Enforcement Highlights Potential Compliance Risks to Crypto Exchanges for Derivatives Trading

Binance is the latest major crypto industry player to be sued by a U.S. regulator. On March 27, 2023, the CFTC announced that it had filed a civil enforcement action against Binance Holdings Limited (and related legal...more

Dechert LLP

CFTC’s Enforcement Division Releases 2019 Annual Report

Dechert LLP on

The CFTC’s Division of Enforcement (Division) released its Annual Report on November 25, 2019, summarizing the Division’s activities over the past year.1 In FY 2019, the CFTC filed 69 enforcement actions, down from 83 in FY...more

Carlton Fields

Complex Investment Product Training Materials Under Fire

Carlton Fields on

In September 2016, the SEC imposed an approximately $15 million penalty and disgorgement (in total) against UBS Financial Services Inc. (UBS) as part of a settled action alleging that UBS failed to adequately train its...more

Patterson Belknap Webb & Tyler LLP

After Favorable LIBOR Ruling from the Second Circuit, Investors Now Allege Anticompetitive SIBOR Manipulation

On July 5, 2016, investors filed a federal class action in the Southern District of New York alleging defendant banks had manipulated the Singapore Interbank Offered Rate (SIBOR) “and/or” Singapore Swap Offer Rate (SOR)...more

Thomas Fox - Compliance Evangelist

Goldman Trial in London – See Any FCPA Issues?

It has been known for some time that the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have been investigating investment banks over their dealings with the Libyan sovereign wealth fund, known as...more

Dorsey & Whitney LLP

UBS Settles Structured Note Case with SEC

Dorsey & Whitney LLP on

The Commission brought its first case tied to inadequate disclosure regarding structured notes. The complex instruments, a debt security linked to a derivative tied to the performance of other products, are frequently...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - August 2015

Are the Circuits A-Splitting? The Ninth Circuit Declines to Follow the Second Circuit's Insider Trading Decision in U.S. v. Newman - Why it matters: On July 6, 2015, the Ninth Circuit in U.S. v. Salman declined to...more

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