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Government Investigations Securities and Exchange Commission (SEC) Enforcement Actions

BakerHostetler

Weekly Blockchain Blog - May 2024 #2

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Crypto and Web3 Firms Announce Fintech Integrations - A major U.S. fintech firm recently announced a product integration with MoonPay, a Web3 infrastructure company, “that allows MoonPay users in the U.S. to seamlessly buy...more

Epstein Becker & Green

SEC Levies a Six Figure Fine Against a Private Company for Language in Its Separation Agreements, Continuing the Aggressive...

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The Security and Exchange Commission (“SEC”) continues to aggressively enforce its whistleblower program under the Biden Administration. As we have reported, the SEC has cracked down on employers’ agreements and procedures...more

StoneTurn

Meeting DOJ and SEC Post-Settlement Obligations: A Practical Guide

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No Longer Just a Matter of Paying the Fine and Moving On. Corporate settlement agreements used to be straightforward—pay the penalty and move on. Now, these resolutions rival complex business transactions, including...more

Akin Gump Strauss Hauer & Feld LLP

The SEC and FCA: A Pond, 362 Investigations and $4 Billion in Penalties Apart

No financial services firm or professional welcomes an investigation by a regulator, let alone enforcement action. Each investigation proceeds differently depending on the target of the investigation, the subject matter and...more

Jones Day

Federal Court Grants the SEC Limited Access to the Identities of Law Firm Clients Impacted by a Cyberattack

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In Short - The Situation: Following a cyberattack on a law firm's systems, the Securities and Exchange Commission ("SEC") subpoenaed the firm for information, including the identity of clients whose information may have...more

BakerHostetler

Crypto Products Launch; FSB, OECD Address Crypto Regulation and Tax; US Exchange Fined $24M; DOJ and SEC Actions Continue; Major...

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New Crypto Products Launch in Custody, Cloud Collaborations and Stablecoins - This week, a major U.S. financial institution announced that its Digital Asset Custody platform is now live in the United States. According to...more

Goodwin

SEC and CFTC Send Powerful Message With $2 Billion in Fines Related to Social Media and Text Recordkeeping Lapses

Goodwin on

​​​​​​​The SEC and CFTC recently charged 11 large financial institutions and their affiliates for failing to collect, monitor, and preserve communications over WhatsApp and other messaging services. These settlements follow a...more

Butler Snow LLP

Company Cooperation Leads to Criminal Discovery

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When a company discovers that a crime may have been committed by individuals within the company, or is alerted by the government of that possibility, the company will often hire an outside law firm to conduct an internal...more

McGuireWoods LLP

SEC Speaks 2022: Ongoing Efforts to Restore Public Trust, Aggressive Enforcement Agenda

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On Sept. 8 and 9, 2022, Securities and Exchange Commission Chairman Gary Gensler, Division of Enforcement Director Gurbir Grewal and senior officials from the Enforcement Division convened at the annual SEC Speaks conference....more

WilmerHale

SEC Brings Charges Against Director and Former Executive Officers for Allegedly Lying to Auditors About Loss Contingencies...

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Last week, the Securities and Exchange Commission (SEC) filed a complaint in U.S. District Court against a company’s director, former CEO and former CFO for allegedly making false and misleading statements to the company’s...more

Brownstein Hyatt Farber Schreck

SEC Director’s Congressional Testimony Provides Further Insight into Enforcement Priorities

Recently, Gurbir Grewal, the U.S. Securities and Exchange Commission’s director of the Division of Enforcement, testified before the U.S. House of Representatives’ Subcommittee on Investor Protection, Entrepreneurship, and...more

Jones & Keller, P.C.

Blue Sky Laws: Defending State-Level Securities Violations

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Securities laws vary by state and typically require issuers to register their offerings and provide financial details of the deal and the entities involved.   Blue Sky laws are anti-fraud security statutes that can be...more

Jones & Keller, P.C.

Disclosure or Non-Disclosure: Governmental Investigation of Securities-Related Activity

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Federal and state regulators are increasingly pursuing enforcement actions against companies and individuals that engage in activities related to securities. In 2021, the U.S Securities and Exchange Commission (SEC) reported...more

Goodwin

Newly Appointed Federal Watchdogs Warn they are Focused on Private Funds

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Private funds can draw lessons about how to prioritize their compliance efforts and practices in response to a series of warnings by newly-appointed federal regulators of increased scrutiny, regulation, and enforcement...more

Alston & Bird

SEC and CFTC Crackdown on Use of Personal Messaging Platforms Raises Compliance Concerns – and Opportunities

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Using personal devices and messaging platforms may be convenient (and ubiquitous), but it may run afoul of federal records retention rules. Our Investment Management, Trading & Markets and White Collar, Government & Internal...more

WilmerHale

2021 Global Anti-Bribery Year-in-Review

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In 2021, the number of publicly resolved Foreign Corrupt Practices Act (FCPA) cases was relatively low compared with previous years, but there were numerous interesting developments, and enforcement activity going forward...more

The Volkov Law Group

2022 FCPA Predictions

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This was a strange year.  Not just because of the continuing pandemic and economic disruption. The Biden Administration took over after an unusual and delayed transition. The apparatus of government was slow to transition....more

Eversheds Sutherland (US) LLP

Enforcement appears as messages disappear: The perils of personal and ephemeral messaging

On December 17, 2021, a financial institution agreed to pay $200 million in fines to the Securities and Exchange Commission and Commodities Futures Trading Commission for allowing employees to discuss business on their...more

Kramer Levin Naftalis & Frankel LLP

New SEC Enforcement Division Director Signals Policy Shifts, Including Potential Emphasis on Admissions of Wrongdoing

In a recent speech at the Practising Law Institute’s annual SEC Speaks conference, Gurbir Grewal, the new director of the Division of Enforcement for the Securities and Exchange Commission (SEC or Commission), signaled...more

Kohn, Kohn & Colapinto LLP

International Whistleblowers Receive High Pay, High Praise from SEC

Since the whistleblower program’s inception in 2011, the U.S. Securities and Exchange Commission (SEC) has awarded approximately $956 million to 195 individuals for their whistleblowing efforts in exposing fraudulent...more

Goodwin

Biogen Inc. Wins Some, Loses Some, in Delaware Chancery Court Corporate Records Suit

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Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of...more

Burr & Forman

SEC Enforcement Staff Regains Subpoena Power

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On February 9, Acting SEC Chair Lee announced she was restoring the delegated authority of Enforcement Division senior officials to issue subpoenas to compel document production and sworn testimony without the need of a...more

Oberheiden P.C.

Defending Against Securities Fraud Litigation Triggered by an SEC Investigation

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For public and private companies in all industries, the risk of being targeted in a U.S. Securities and Exchange Commission (SEC) investigation is a very real concern. As new and innovative securities offerings continue to be...more

Robins Kaplan LLP

Financial Daily Dose 8.5.2020 | Top Story: Top Story: Ford Removes CEO Jim Hackett After 3 Years on the Job

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Major shakeup at Ford, where CEO Jim Hackett is out after a three-year stint in which he “achieved mixed results” but didn’t impress Wall Street enough to keep his job. Ford has installed COO James Farley, a Toyota alum who’s...more

Proskauer - Whistleblower Defense

Reuters: SEC Eager to Prosecute COVID-19 Misconduct Amid Flurry of Whistleblower Complaints

A Reuters article published on May 26, 2020 reports that the SEC has experienced an uptick in complaints amid the COVID-19 pandemic. According to the article, the SEC received about 4,000 complaints from mid-March through...more

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