Transaction Monitoring Under the FCPA
On June 14, 2024, a class action lawsuit was filed in the U.S. District Court for the Southern District of New York against Morgan Stanley alleging a breach of its fiduciary duty to customers and unjust enrichment by, among...more
The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more
On October 12, 2022, the U.S. Bankruptcy Court for the Southern District of New York denied motions to dismiss fraudulent transfer claims asserted against certain investors in Tops Holding II Corporation. In 2007, a group of...more
Alliance Technical Group, LLC, (“ATG”) issued a December 6th news release stating that it had acquired GBMc & Associates (“GBMc”). ATG states that the acquisition was backed by investment funds managed by Morgan Stanley...more
The disposal of hardware in the wrong manner can leave an organization offside its regulatory obligations under privacy legislation. Depending on the residence of the individuals or entities whose personal data is stored by...more
Phishing, Smishing, Vishing, and QRishing. All of these schemes continue to pose risk to organizations that needs to be assessed and addressed. Vishing made a strong debut during the pandemic, and continues to be a scheme...more
Earlier last week the President signed Federal legislation addressing LIBOR transition for legacy contracts. As Chair of the Alternative Reference Rates Committee, what does that mean for the financial markets?...more
The SEC is reportedly probing whether recent stock sales by Tesla’s CEO Elon Musk and his brother Kimbal “violated insider-trading rules.” News of the investigation came less than a week after Tesla accused the Commission of...more
The global stock index provider Morgan Stanley Capital International (MSCI), one of the largest stock index providers in the world, announced recently that it opened a consultancy process with regard to Israel’s possible...more
Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more
Sweden-based and celeb-backed oat milk company Oatly hit it big on its first day of public trading, with shares soaring 30% “as investors jumped at the chance to take part in rapid changes in the food industry driven by...more
Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices...more
We all have them. Old computers sitting around in storage, never to be used again. Broken servers that have passed their prime. Laptops abandoned for their newer, shinier versions. And what do you do with them? If these...more
On August 3, 2020, the Partnership for Carbon Accounting Financials (“PCAF”) released a draft standard outlining a proposed approach for global carbon accounting. This standard, the “Global Carbon Accounting Standard for the...more
A Twitter-based crypto scam managed to hack some high-profile accounts Wednesday. VERY high profile...more
May saw a huge jump in consumer activity to the tune of +17.7%, as Americans unleashed their pent-up demand. It was welcome news for markets and beyond, but “the underlying data presents a more complicated picture and shows...more
Morgan Stanley shook the financial world yesterday with the announcement that it’s planning to drop $13 billion on a deal to purchase online discount brokerage E-Trade—the “biggest takeover by a major American lender since...more
Firms permitting the creation and operation of custodial accounts related to Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA) transactions must take special notice of Financial Industry Regulatory...more
Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more
Some remembrances upon the passing of influential former Fed Chair Paul Volcker, a force in American economic policy for nearly 60 years who led “the Federal Reserve’s brute-force campaign to subdue inflation in the late...more
The United States has been the global leader in the enforcement of anti-bribery and anti-corruption laws for several decades. The Foreign Corrupt Practices Act (FCPA) was enacted in the United States in 1977 in order to...more
On September 6, 2019, the U.S. District Court for the Northern District of California preliminarily approved a settlement in Harvey v. Morgan Stanley Smith Barney LLC. The significance of the result is two-fold. First,...more
Johnson & Johnson doled out $20 million to two Ohio counties rather than go through with its first federal opioid-related trial. The money is rather small potatoes for J&J, but it marks the “first time . . . the world’s...more
The ECB was even more aggressive than expected in its moves to “head off a downturn before it gained momentum,” cutting a key interest rate and reviving “a money-printing program.” At the same time, the central bank “issued...more
..Morgan Stanley announced a new tool to help financial advisors and their clients’ measure sustainable investment performance, allowing the prioritization of selected environmental, social and governance interests and...more