The U.S. Securities and Exchange Commission (SEC) has reportedly announced internally a major reorganization of its enforcement and exams divisions. This restructuring, effective April 9, 2025, was detailed in a staff memo...more
4/8/2025
/ Cryptocurrency ,
Enforcement Actions ,
Enforcement Guidance ,
Enforcement Priorities ,
Financial Regulatory Reform ,
Financial Services Industry ,
Government Agencies ,
Regulatory Agencies ,
Regulatory Oversight ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On November 22, the Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year (FY) 2024. As compared to FY 2023, the Division of Enforcement (the division) reported a 26% decline in the total...more
In late June, the staff of the U.S. Securities and Exchange Commission’s Division of Corporation Finance released five new compliance and disclosure interpretations regarding the disclosure of material cybersecurity incidents...more
12/2/2024
/ Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Insurance ,
Cybersecurity ,
Disclosure Requirements ,
Encryption ,
Form 8-K ,
Information Technology ,
Materiality ,
Ransomware ,
Reporting Requirements ,
Reputational Injury ,
Securities and Exchange Commission (SEC)
By now, public companies are generally aware of the cybersecurity rules adopted by the U.S. Securities and Exchange Commission a year ago, requiring public companies to disclose material cybersecurity incidents under Item...more
10/21/2024
/ Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Disclosure Requirements ,
Form 8-K ,
Incident Response Plans ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
I work for a public company that recently experienced a ransomware attack. Fortunately, we were able to restore our business operations quickly by obtaining a decryption key from the threat actor. Given that we managed to get...more
9/11/2024
/ Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Protection ,
Disclosure Requirements ,
Incident Response Plans ,
Publicly-Traded Companies ,
Ransomware ,
Reporting Requirements ,
Reputational Injury ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more
On June 11, the Securities and Exchange Commission (SEC) announced the first settled case in its ongoing review of collaborations between investment advisors and short publishers. The SEC fined affiliated investment advisors...more
On April 14, the Supreme Court unanimously held that federal district courts have jurisdiction to review constitutional challenges to the structures of the Federal Trade Commission (FTC) and Securities and Exchange Commission...more
On January 9, the Securities and Exchange Commission (SEC) announced that it had reached a settlement with McDonald’s and its former CEO, Stephen Easterbrook, for charges stemming from McDonald’s 2019 termination of...more
On January 10, FINRA published its “2023 Report on FINRA’s Examination and Risk Management Program” (Report) — FINRA’s third annual compendium of guidance, covering key topics and emerging risks for member firms to consider...more
On November 15, the U.S. Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year 2022, which featured the following key metrics...more
On October 12, the Securities and Exchange Commission (SEC) voted to adopt new electronic recordkeeping requirements for broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs)...more
On September 6, investment advisory firm Perceptive Advisors LLC (Perceptive) agreed to a cease-and-desist order with the U.S. Securities and Exchange Commission (SEC) for failing to disclose alleged conflicts of interest...more
While the phrase “clandestine messaging” evokes secret notes slipped under doors and written in code, its meaning in the world of securities regulation and enforcement is not nearly as romantic as the name suggests....more
On February 9, FINRA published its 2022 Report on FINRA’s Examination and Risk Management Program (2022 Report), an authoritative resource for member firms to evaluate and, where necessary, enhance their compliance programs...more
2/18/2022
/ Compliance ,
Crowdfunding ,
Disclosure ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
Investment Portfolios ,
Investors ,
Power of Attorney ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Tax Exemptions ,
Trusted Contact Person ,
Trustees
On November 1, the President’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, issued a “Report on Stablecoins” (Report) that...more
On November 1, the President’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, issued a “Report on Stablecoins” (Report) that...more
On June 11, the Biden administration’s Office of Information and Regulatory Affairs (OIRA) released the Securities and Exchange Commission’s (SEC or Commission) rulemaking agenda (Rulemaking Agenda) as part of the Spring 2021...more
On Friday January 1, with the Senate’s floor vote to override the president’s veto, Congress passed the 60th annual National Defense Authorization Act (NDAA). Encompassed within the $740.5 billion military spending bill is an...more
1/4/2021
/ Congressional Override ,
Disgorgement ,
Enforcement Actions ,
Equitable Relief ,
Kokesh v SEC ,
Liu v Securities and Exchange Commission ,
NDAA ,
Presidential Veto ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Statute of Limitations
Who Needs to Know -
Publicly traded companies, specifically those whose business was affected by the COVID-19 pandemic....more