News & Analysis as of

Penalties Securities

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Dechert LLP

The United States Establishes the Foundation for a New Outbound Investment Regime

Dechert LLP on

In brief. On August 9, 2023, President Biden signed a highly anticipated Executive Order (the “Outbound E.O.”) to establish a U.S. outbound investment regime. The U.S. Department of Treasury (“Treasury”) concurrently...more

White & Case LLP

Repos in Islamic Finance

White & Case LLP on

1. Why Repos are important for the Islamic finance industry - Islamic finance is a full-fledged financial system, including well-established banking, capital markets, money markets and insurance products and practices....more

A&O Shearman

EU Publishes Final Amendments to Cash Penalty Process for Cleared Trades

A&O Shearman on

The European Securities and Markets Authority has published its Final Report and draft Regulatory Technical Standards amending the cash penalty process for cleared transactions under the EU Central Securities Depositories...more

Dechert LLP

U.S. Treasury Implements Significant Changes to TIC SLT Form: Implications for Investment Managers

Dechert LLP on

Effective for reports as of November 2022 (i.e., those reports due in December 2022) and afterwards, the U.S. Department of Treasury (Treasury) has implemented important and significant changes to the reporting requirements...more

Seward & Kissel LLP

SEC Charges Sixteen Firms for Recordkeeping Failures Related to Employee Use of Personal Devices

Seward & Kissel LLP on

On September 27, 2022, the Securities and Exchange Commission (“Commission”) entered into a series of settled orders (“Orders”) against 15 broker-dealers and one affiliated investment adviser for widespread failures by the...more

Winstead PC

SEC Brings “Naked Short Selling” Case

Winstead PC on

“Naked short selling” is often claimed by struggling public companies to be the source of their woes. But there have been relatively few cases addressing naked short selling. Recently, however, on May 19, 2021, the SEC...more

Dechert LLP

U.S. Treasury’s Benchmark TIC SHL Survey and Implications for Investment Managers

Dechert LLP on

In August 2019, the U.S. Department of the Treasury (Treasury) and the Federal Reserve Bank of New York (FRBNY) will conduct a benchmark survey of foreign residents’ holdings of U.S. issuers’ securities. The information will...more

Burr & Forman

SEC Scores First Muni Issuer's Admission of Wrongdoing

Burr & Forman on

The Port Authority of New York and New Jersey has admitted wrongdoing and agreed to pay a $400,000 penalty to settle SEC charges that it failed to adequately disclose project risks to investors purchasing $2.3 billion in...more

Katten Muchin Rosenman LLP

Former Hedge Fund Founder Ordered to Pay $5 Million for Securities Law Violations

The US District Court for the Southern District of New York recently ordered the investment adviser to two hedge funds, and its managing director, to pay nearly $5 million in disgorgement, prejudgment interest and civil...more

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