On April 7, 2026, the SEC’s Division of Enforcement announced enforcement results for FY 2025, providing the first aggregate glimpse into enforcement activity under SEC Chair Atkins, sworn into office on April 21, 2025. In FY...more
4/14/2026
/ Artificial Intelligence ,
Capital Markets ,
Cryptoassets ,
Cybersecurity ,
Enforcement Actions ,
Fiduciary Duty ,
Insider Trading ,
Market Manipulation ,
Ponzi Scheme ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Whistleblowers
David Miller, the newly appointed director of the CFTC’s Division of Enforcement, recently outlined the agency’s enforcement priorities, including in the $400 trillion swaps markets, which encompasses prediction markets....more
4/10/2026
/ AML/CFT ,
Anti-Money Laundering ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cooperation ,
Derivatives ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Enforcement Priorities ,
Fraud ,
Insider Trading ,
Market Manipulation ,
Swaps
Each week for the next 10 weeks, we will publish an installment of our Red Flags Everywhere! series, highlighting key risk areas that public companies and their boards of directors should keep top of mind.
This series...more
4/9/2026
/ Audit Committee ,
Best Practices ,
Board of Directors ,
Compliance ,
Corporate Governance ,
Corporate Misconduct ,
Delaware ,
Delaware General Corporation Law ,
Fiduciary Duty ,
Internal Controls ,
Internal Investigations ,
Investigations ,
Risk Management ,
Securities Litigation ,
Shareholder Litigation ,
Whistleblowers
Each week for the next 10 weeks, we will publish an installment of our Red Flags Everywhere! series, highlighting key risk areas that public companies and their boards of directors should keep top of mind.
This week, we...more
4/3/2026
/ 10b5-1 Plans ,
Board of Directors ,
Corporate Governance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Insider Trading ,
Internal Controls ,
Material Nonpublic Information ,
Policies and Procedures ,
Publicly-Traded Companies ,
Risk Management ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Regulation
On March 17, 2026, the Securities and Exchange Commission (SEC) issued an interpretive release, Statement on the Application of Federal Securities Laws to Crypto Assets (the “Release”), addressing the application of the...more
3/24/2026
/ Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Securities ,
Howey ,
Interpretive Rule ,
Investment Contract ,
Loper Bright Enterprises v Raimondo ,
New Guidance ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine:
• SEC Chairman Paul Atkins’ testimony before Congress;...more
3/18/2026
/ Cooperation ,
Corporate Counsel ,
Enforcement Actions ,
Enforcement Guidance ,
Enforcement Priorities ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Loper Bright Enterprises v Raimondo ,
Negligence ,
Policies and Procedures ,
Securities and Exchange Commission (SEC) ,
Statutory Interpretation ,
Valuation ,
Wells Notice ,
Whistleblowers
In this episode of the Above Board podcast, hosts Scott Lesmes and Haima Marlier are joined by Morrison Foerster Securities Litigation partners Jamie Levitt and Ryan Keats to discuss what public companies can expect in...more
Prediction markets, where users can take monetary positions on nearly endless scenarios, have surged in popularity in recent months. As prediction markets become more widespread, however, concerns about insider trading on the...more
3/3/2026
/ CFTC ,
Commodity Exchange Act (CEA) ,
Compliance ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FinTech ,
Fraud ,
Innovative Technology ,
Insider Trading ,
Policies and Procedures ,
Regulatory Oversight ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation
On February 11, 2026, SEC Division of Enforcement Director Margaret Ryan delivered her first public speech since her appointment in September 2025. At the Los Angeles County Bar Association’s 56th Annual Securities Regulation...more
2/25/2026
/ Enforcement ,
Enforcement Actions ,
Enforcement Priorities ,
Insider Trading ,
Investigations ,
Market Manipulation ,
Regulatory Oversight ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Wells Notice
Additionally, there were several notable leadership changes at the SEC in January. On January 2, Commissioner Caroline Crenshaw’s term concluded, leaving the agency with just three commissioners and no Democratic appointees....more
2/25/2026
/ Accounting Fraud ,
Corporate Counsel ,
Cryptoassets ,
Disclosure Requirements ,
Disgorgement ,
Enforcement Actions ,
Financial Reporting ,
Insider Trading ,
Pharmaceutical Industry ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Special Purpose Acquisition Companies (SPACs) ,
Tokenization
On January 28, 2026, the SEC’s Division of Corporation Finance, Division of Investment Management, and Division of Trading and Markets (collectively, the “Division Staff”) issued a joint statement outlining their views on the...more
1/30/2026
/ Blockchain ,
Cryptoassets ,
Digital Assets ,
Digital Securities ,
Distributed Ledger Technology (DLT) ,
FinTech ,
Innovation ,
New Guidance ,
Regulatory Oversight ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tokenization
We publish a periodic roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. Despite the longest government shutdown in U.S. history, which ran from October 1 to...more
1/27/2026
/ Broker-Dealer ,
Capital Markets ,
Corporate Counsel ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Enforcement Actions ,
Government Shutdown ,
Initial Public Offering (IPO) ,
Material Nonpublic Information ,
Popular ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
In case there was any doubt, insider trading enforcement—including DOJ criminal and SEC civil charges—remains a priority to kick off the new year. Last week, the U.S. Attorney’s Office for the District of Massachusetts...more
1/21/2026
/ Clinical Trials ,
Consultants ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Publicly-Traded Companies ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
Last week, the SEC agreed to voluntarily dismiss its high-profile case against SolarWinds Corporation (“SolarWinds” or the “Company”) and its Chief Information Security Officer (“CISO”), which has been pending for over two...more
11/25/2025
/ Chief Information Security Officer (CISO) ,
Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Dismissals ,
Enforcement Actions ,
Form 8-K ,
Material Misstatements ,
Misleading Statements ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
SolarWinds
On November 12, 2025, SEC Chairman Paul Atkins delivered remarks outlining the SEC’s ongoing work under “Project Crypto,” a regulatory initiative launched earlier this year to encourage crypto asset innovation and clarify how...more
11/20/2025
/ Blockchain ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Proposed Rules ,
Regulatory Oversight ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Tokenization
Additionally, on September 26, 2025, SEC Chair Paul S. Atkins announced that the Commission will once again simultaneously evaluate settlement offers in SEC enforcement actions and requests for SEC waivers from automatic...more
10/27/2025
/ Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Insider Trading ,
Investment Advisers Act of 1940 ,
Market Manipulation ,
No-Action Letters ,
Ponzi Scheme ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Regulation
The CFTC issued the Policy Statement and prior Staff Advisory Letter 25-19 in response to Executive Order 14294, “Fighting Overcriminalization in Federal Regulations,” issued on May 9, 2025. The Executive Order directs...more
10/22/2025
/ CFTC ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
Policies and Procedures ,
Regulatory Oversight ,
Regulatory Reform ,
Reporting Requirements ,
White Collar Crimes
The Securities and Exchange Commission (SEC) has made clear—through its rulemaking, enforcement actions, public statements, and formidable “Crypto Assets and Cyber Unit” within the Division of Enforcement—that public...more
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine:
• Recent SEC activity pursuing alleged fraud in the...more
9/29/2025
/ Administrative Procedure Act ,
Constitutional Challenges ,
Cryptocurrency ,
Enforcement Actions ,
First Amendment ,
Insider Trading ,
Investment Advisers Act of 1940 ,
Market Manipulation ,
Registered Investment Advisors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Settlement
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine the following matters:
• An SEC complaint alleging a Georgia...more
8/25/2025
/ Blockchain ,
Corporate Counsel ,
Digital Assets ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Insider Trading ,
Investment Adviser ,
Investors ,
Ponzi Scheme ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Voluntary Dismissals
Last week, New York State Department of Financial Services (NYDFS) left no doubt that it will continue to actively regulate cryptocurrency despite the pullback in law enforcement efforts by the federal government, including...more
8/13/2025
/ Anti-Money Laundering ,
BitLicense ,
Consent Order ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
New York ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Oversight ,
Regulatory Requirements ,
Stablecoins
On July 30, 2025, the White House released a 166-page report titled “Strengthening American Leadership in Digital Financial Technology” (the “Report”).[1] Authored by a working group of cabinet members and federal agency...more
8/7/2025
/ AML/CFT ,
Banking Sector ,
Biden Administration ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Cybersecurity ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Financial Regulatory Reform ,
FinTech ,
IRS ,
Multi-Factor Authentication ,
NIST ,
Popular ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stablecoins ,
U.S. Treasury
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine the following matters:
• An SEC settlement with an ex-CEO...more
8/1/2025
/ CEOs ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Elder Abuse ,
Enforcement ,
Fraud ,
Hedge Funds ,
Investment Adviser ,
Investors ,
Misrepresentation ,
Ponzi Scheme ,
Portfolio Companies ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities
On May 14, 2025, Deputy Enforcement Director Antonia Apps told those gathered at an anti‑money laundering conference in Washington, D.C. to expect a more measured approach from SEC Enforcement. That may include, she...more
6/25/2025
/ Anti-Money Laundering ,
Broker-Dealer ,
Corporate Counsel ,
Cryptocurrency ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
International Chamber of Commerce (ICC) ,
Investment Adviser ,
Investment Management ,
Penalties ,
Popular ,
Real Estate Development ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Settlement
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. For the month when Paul Atkins was sworn in as SEC Chairman, we examine:
• The SEC’s...more
5/28/2025
/ Corporate Counsel ,
Cryptocurrency ,
Enforcement ,
Enforcement Actions ,
Fraud ,
Investment ,
Investment Adviser ,
Investment Funds ,
Receivership ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Securities Violations ,
Stablecoins