Enforcement Actions Penalties

News & Analysis as of

Double-Check the Math: Advisers Should Not Provide Clients With Performance Data Created by Other Investment Managers Without...

In a series of enforcement actions this week, the SEC made it clear that investment advisers need to substantiate the performance records of investment management firms they recommend to their clients. In these cases,...more

[Webinar] Post-OSHA Citation: Contest Process, Settlement Goals and Strategy - September 7th, 1:00pm EDT

You just received a set of OSHA citations in the mail. What now? Should we accept the citations and pay the penalty? Should we participate in an Informal Settlement Conference with the OSHA Area Office? Should we contest...more

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules

FCC Fines Non-Telecom Companies for Lapse in Compliance with Wireless Rules August 19, 2016 The enforcement action highlights the importance of complying with FCC rules with respect to their wireless facilities and devices....more

SEC Penalizes Company For Severance Language Purportedly Impeding Complaints

On August 10, 2016, the SEC announced that BlueLinx Holdings Inc. (Company) is settling charges that it violated Rule 21F-17 by requiring outgoing employees to waive whistleblower bounty awards in connection with severance...more

Severance Agreements Violate SEC Whistleblower Provisions

The SEC has a robust whistleblower program which is considered an important adjunct to its enforcement efforts. To that end the Commission has participated in whistleblower cases as an amicus and brought actions regarding...more

U.S. Employers Facing Increased Fines for Form I-9 Violations

The U.S. Department of Justice recently announced significant increases in fines for immigration-related paperwork violations, in an interim final rule slated to take effect this fall. Harsher financial penalties come as part...more

OCR Announces First HIPAA Enforcement Action against a Business Associate

The U.S. Department of Health and Human Services Office for Civil Rights (OCR) announced an agreement with Catholic Health Services of the Archdiocese of Philadelphia (CHCS), settling allegations that CHCS violated the Health...more

The Scope Of SEC Defendants' Jury Trial Right: Part 3

This is the third of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange Commission enforcement actions. Our first article explained why the Seventh...more

SEC – Phoenix Settle Accounting Errors Action

Financial reporting cases are a key focus of SEC enforcement. In some instances the actions result from fraudulent schemes such as those where executives falsify the numbers to obtain a bonus. In other instances the actions...more

SEC Requires Admissions To Settle Another Blue Sheet Case

Blue sheets are an important tool for the SEC. Named for the fact that the form at one time was printed on blue paper, the information request requires the immediate production of key information regarding a securities...more

Additional Regulatory Hurdles for Private Equity Advisers

The private equity industry should carefully consider the implications of a recent Securities and Exchange Commission ("SEC") enforcement action. In it, the SEC, for the first time, sanctioned an SEC-registered private equity...more

SEC Charges Private Fund Administrator with “Gatekeeper Failures”

Add fund administrators to the list of service providers the SEC expects to act as “gatekeepers.” In two separate settled actions last week, the SEC found that a private fund administrator “caused” the managers’ unregistered...more

Repeated, Small Insider Trades Draws SEC Sanctions

Repeated insider trading, no matter how small the amounts, is likely to be found by the SEC’s big data approach to surveillance. A former vice president of a retail chain learned this lesson the hard way. SEC v. Hammon, Civil...more

Don’t even think about violating that penny stock bar.

The penny stock world can be rough. So rough that breaking the rules in that corner of the securities markets ban bring its own kind of injunction, one that’s much more specific than the typical don’t-break-the-law-anymore...more

Delta Wins CalOPPA Case – But Your Mobile App May Not Fly

In a decision favorable to the airline industry—but not helpful to other companies—the California Court of Appeal said that a privacy enforcement action against Delta is not going to fly. On May 25, 2016, the Court of Appeal...more

May 2016 Update on Significant DOT, FAA and Other Federal Agencies’ Aviation-Related Regulatory Actions

This edition of the Cozen O’Connor Aviation Regulatory Update includes DOT’s announcement of the members and meeting schedule of the Advisory Committee on Accessible Air Transportation (Disabled Passenger Negotiated...more

CPSC Announces Civil Penalty against Teavana; Commissioners Remain Divided on Civil Penalty Enforcement, Calculations, and...

On May 26, 2016 the U.S. Consumer Product Safety Commission (“CPSC”) announced through a Record of Commission Action (“RCA”) that Teavana Corporation (“Teavana”) has agreed to pay a $3.75 million civil penalty to resolve...more

General Court of the EU Dismisses Trioplast Application Seeking Reimbursement of Interest Paid for Being Late in Paying Cartel...

With a judgment handed down on 12 May 2016 (Case T-669/14, Trioplast Industrier AB v. European Commission), the General Court of the European Union (GCEU) dismissed an action brought by Trioplast Industrier AB (Trioplast...more

SEC Files Offering Fraud Action Centered on Warrants From Private Firm

The SEC filed another offering fraud action, a current staple of the agency. This scheme centered on two former executives of a privately held software manufacturer and a marketer who sold investors interests in various...more

SEC Sanctions Audit Firm, Partner Tied to Custody Rule

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

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement - Remember to Update Your Risk Disclosure on an Ongoing Basis - The staff of the Securities and Exchange Commission (SEC) issued guidance reminding mutual funds, exchange traded funds, and other...more

Thirteen Observations About the SEC’s Enforcement Program

Over the last two months, the SEC issued two reports that provide useful perspectives on its enforcement program. In February, it issued the combined 136-page “FY 2017 Congressional Justification & FY 2015 Annual Performance...more

SEC Imposes Penalties on Company and Officers for Inadequate Staffing in Accounting Department

Highlights - The SEC settled charges against Magnum Hunter Resources Corporation and two of its officers for deficient oversight of the company’s internal controls over financial reporting, resulting in fines of...more

Environmental Compliance Basics - The Emergency Planning and Community Right to Know Act

Does your business use or handle chemicals? If so, then read on. EPA recently released its 2015 enforcement report, noting thousands of enforcement cases, tens of thousands of inspections, and hundreds of millions of...more

Interesting FCC Enforcement Actions — February 2016 Edition

It’s no secret that one of the major stories in the last two years has been the increased activism of the Federal Communications Commission’s (“FCC”) Enforcement Bureau (“Bureau”). February 2016 was no exception in terms of...more

77 Results
|
View per page
Page: of 4
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×