A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to...more
12/10/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Biden Administration ,
CFTC ,
Community Reinvestment Act ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Fair Lending ,
FDIC ,
Financial Products ,
Financial Services Industry ,
FinTech ,
National Bank Act ,
OCC ,
Popular ,
Proposed Rules ,
Securities and Exchange Commission (SEC) ,
Special Purpose National Bank Charter
Despite turmoil created by the pandemic and the uncertainty created by next week’s election, SEC enforcement remains business as usual.
Over seven months into the pandemic, the SEC has taken substantial measures to adjust...more
Creation of a new rapid response team signals regulators may turn today’s cyber examination priorities into tomorrow’s enforcement priorities.
The Securities and Exchange Commission, New York State Department of Financial...more
8/18/2020
/ Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Department of Homeland Security (DHS) ,
Digital Assets ,
EDGAR ,
FBI ,
First American Title Insurance Co. ,
IRS ,
NYDFS ,
OCIE ,
Popular ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Twitter
Although the Supreme Court handed the SEC a win by preserving its authority to seek disgorgement, the Liu decision limits that authority and creates uncertainty that will likely benefit defendants, particularly in insider...more
7/10/2020
/ 15 U.S.C. § 78u(d)(5) ,
Administrative Authority ,
Business Expenses ,
Calculation of Damages ,
Corporate Misconduct ,
Disgorgement ,
Enforcement Actions ,
Kokesh v SEC ,
Lack of Authority ,
Liu v Securities and Exchange Commission ,
Net Profits ,
SCOTUS ,
Securities and Exchange Commission (SEC)
If past crises are any guide, public outcry for accountability, media attention and vigorous enforcement is likely in the wake of the pandemic.
Corruption, fraud and money laundering are ever-present risks during the...more
Expect the SEC to aggressively enforce the securities laws during and after the COVID-19 pandemic, particularly against market participants who act opportunistically.
The SEC as well as senior staff within the Division of...more
TAKEAWAYS
- SEC scrutiny of private funds underscores the importance of remaining vigilant, including updating and improving compliance infrastructure and evaluating internal policies and procedures.
- Private funds...more
2/19/2020
/ California Consumer Privacy Act (CCPA) ,
Compliance ,
Cybersecurity ,
Enforcement Actions ,
Internal Controls ,
Investment Adviser ,
OCIE ,
Private Equity Firms ,
Private Funds ,
SEC Advertising Rule ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)