News & Analysis as of

Negligence Broker-Dealer

Seward & Kissel LLP

Leash the Kraken: SEC Sues Kraken

Seward & Kissel LLP on

On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for September 2022

Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, which was an active one as the SEC...more

WilmerHale

SEC Enforcement Alert: D.C. Circuit Rules Negligent Conduct Is Not “Willful”

WilmerHale on

On April 30, 2019, the D.C. Circuit issued an important decision in Robare Group, Ltd. v. SEC, Slip Op. No. 16-1453, which rejected the long-standing approach of the Securities and Exchange Commission (Commission or SEC) that...more

Katten Muchin Rosenman LLP

DC Circuit Decision Against Investment Adviser Leaves Many Unanswered Questions

On April 30, 2019, US Court of Appeals for the DC Circuit decided an important case involving the disclosure obligations of investment advisers. The case decided that an adviser’s disclosure that it “may” have a conflict of...more

Katten Muchin Rosenman LLP

SEC Sues Asset Managers for Using Untested, Error Filled Quantitative Investment Models

On August 27, the Securities and Exchange Commission (SEC) brought actions against four affiliated entities—including two registered investment advisers, one dually registered investment adviser and broker-dealer and a...more

Proskauer - Corporate Defense and Disputes

Eleventh Circuit Clarifies Broker-Dealer’s Liability For Employee’s Fraud

Will a broker-dealer be liable when a financial advisor employed by the firm solicits investments as part of a fraudulent scheme, where the firm specifically prohibited the advisor from soliciting the investment, the...more

Carlton Fields

Gatekeeper Liability of Inside Asset Management Attorneys "Appearing" Before the SEC

Carlton Fields on

This article addresses the liability of inside attorneys at asset management companies— mutual fund sponsors, investment advisers, broker-dealers, life insurance companies—as gatekeepers under rules of the US Securities and...more

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