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:
•Judge Paul Engelmayer’s decision on defendants’ motion to...more
8/22/2024
/ Broker-Dealer ,
Corporate Counsel ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Hedge Funds ,
Illegal Trading ,
Investment Adviser ,
Investment Firms ,
Online Platforms ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
SolarWinds
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 Supreme Court’s Jarkesy decision and its impact on the...more
7/16/2024
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Corporate Counsel ,
Dodd-Frank ,
Glass Lewis ,
Insider Trading ,
Institutional Shareholder Services (ISS) ,
Investment Advisers Act of 1940 ,
Proxy Advisory Firms ,
Rule 10b-5 ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Tokens ,
Seventh Amendment
On June 27, 2024, the Supreme Court decided in SEC v. Jarkesy that where the Securities and Exchange Commission (“SEC”) brings enforcement actions for civil penalties, it must do so in the federal courts, as opposed to before...more
7/1/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Civil Monetary Penalty ,
Constitutional Challenges ,
Enforcement Actions ,
Jury Trial ,
NLRB ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Separation of Powers ,
Seventh Amendment
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 permanent suspension of an audit firm and its owner for...more
6/28/2024
/ CEOs ,
Corporate Counsel ,
Cyber Incident Reporting ,
Fraud ,
Insider Trading ,
Loans ,
PCAOB ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Stock Prices ,
Taxable Income
On June 21, 2024, a jury in California federal court found a former chief executive officer of a publicly traded healthcare company guilty of insider trading in United States v. Peizer, the first criminal insider-trading case...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:
•The SEC’s first “Shadow Trading” trial;
•SCOTUS’s...more
5/21/2024
/ Books & Records ,
Breach of Duty ,
Climate Change ,
Compliance ,
Corporate Counsel ,
Cryptocurrency ,
Data Privacy ,
Insider Trading ,
Investment Advisers Act of 1940 ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Marketing ,
Misappropriation ,
Non-Public Information ,
Omissions ,
Regulation S-K ,
Reporting Requirements ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stays
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 Fifth Circuit’s stay of the SEC’s recent adoption of...more
4/24/2024
/ Artificial Intelligence ,
Climate Change ,
Coinbase ,
Cryptoassets ,
Disclosure Requirements ,
Enforcement ,
Fiduciary Duty ,
Fraud ,
Greenhouse Gas Emissions ,
Investment Advisers Act of 1940 ,
Misleading Statements ,
Securities and Exchange Commission (SEC) ,
Stays ,
Unregistered Brokers
On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the...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:
•The SEC’s expanded definition of securities dealers; -
•An...more
3/26/2024
/ Arbitrary and Capricious ,
Corporate Counsel ,
Cryptocurrency ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Amendments ,
Private Funds ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Exchange Act of 1934 ,
Traders
On March 18, 2024, the SEC announced—in videos posted on YouTube and Twitter—regulatory actions against two investment advisers for “AI washing,” a practice defined by the SEC as “making false artificial intelligence-related...more
3/21/2024
/ Anti-Fraud Provisions ,
Artificial Intelligence ,
Enforcement ,
Environmental Social & Governance (ESG) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Funds ,
NASAA ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
SIFMA
On March 6, 2024, two years after the issuance of a proposing release and following more than 24,000 comment letters and 4,500 unique letters submitted in response, by a vote of 3-2, the U.S. Securities and Exchange...more
3/14/2024
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Form 10-K ,
Greenhouse Gas Emissions ,
Popular ,
Publicly-Traded Companies ,
Regulation S-X ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Task Force on Climate-related Financial Disclosures (TCFD)
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 SEC’s approval of spot bitcoin ETPs; -
•SEC charges...more
2/27/2024
/ Bitcoin ,
Corporate Counsel ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Initial Public Offering (IPO) ,
PCAOB ,
Ponzi Scheme ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Special Purpose Acquisition Companies (SPACs)
On January 9, a hacker posted from the Securities and Exchange Commission’s (SEC) official X account. The post announced that the SEC had officially approved exchange-traded funds (ETFs) to hold spot bitcoin. Within 30...more
To provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important and interesting SEC enforcement developments from the past month, with links to primary resources....more
1/18/2024
/ Coinbase ,
Corporate Counsel ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Disclosure Requirements ,
ICFR ,
Repurchases ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stock Repurchases ,
Unregistered Securities
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 SEC’s announcement of its Fiscal Year 2023 enforcement...more
12/18/2023
/ Charter Communications ,
Constitutional Challenges ,
Corporate Counsel ,
Corporate Governance ,
Cryptocurrency ,
Cyber Crimes ,
Enforcement Actions ,
Hackers ,
Internal Controls ,
Remedies ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Share Buybacks ,
Whistleblowers
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:
• Fraud and internal control failure charges against...more
11/20/2023
/ Aiding and Abetting ,
Anti-Money Laundering ,
Best Practices ,
Blockchain ,
Chief Information Security Officer (CISO) ,
Cyber Attacks ,
Cybersecurity ,
Data Collection ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Fraud ,
Good Faith ,
Information Security ,
Interlocutory Appeals ,
Popular ,
Reporting Requirements ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Short Sales ,
SolarWinds
Earlier this week, the SEC accused SolarWinds Corporation (“SolarWinds” or the “Company”) and its Chief Information Security Officer (“CISO”) of committing scienter-based securities fraud, among other violations, for...more
11/6/2023
/ Chief Information Security Officer (CISO) ,
Cyber Incident Reporting ,
Cybersecurity ,
Enforcement ,
False Statements ,
Form 8-K ,
Internal Controls ,
NIST ,
Popular ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
SolarWinds
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, with links to primary resources....more
10/26/2023
/ CEOs ,
CFOs ,
Confidentiality Agreements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Failure to Report ,
False Statements ,
Fraud ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Marketing ,
MNPI ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Whistleblower Protection Policies ,
Whistleblowers
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, with links to primary resources. This...more
9/15/2023
/ Bitcoin ,
Corporate Counsel ,
Enforcement Actions ,
False Statements ,
Investment Adviser ,
Marketing ,
Misleading Statements ,
Non-Fungible Tokens (NFTs) ,
Online Platforms ,
Private Funds ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Unregistered Securities
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, with links to primary resources. This...more
8/15/2023
/ Anti-Money Laundering ,
Broker-Dealer ,
Corporate Counsel ,
Cryptoassets ,
Cyber Attacks ,
Cybersecurity ,
Disclosure Requirements ,
Enforcement Actions ,
Failure-to-File ,
Form 8-K ,
Investment ,
Investment Adviser ,
Investors ,
Popular ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Special Purpose Acquisition Companies (SPACs) ,
Suspicious Activity Reports (SARs)
On July 31, 2023, Judge Jed S. Rakoff in the Southern District of New York ruled that the U.S. Securities and Exchange Commission (SEC) may proceed with its case against Terraform Labs (“Terraform”) and its CEO, Do Hyeong...more
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, with links to primary resources. This...more
On July 13, 2023, Judge Analisa Torres in the Southern District of New York issued the much-anticipated summary judgment order in the Securities and Exchange Commission’s (SEC) case against Ripple Labs and two senior leaders,...more
7/18/2023
/ Asset Tokens ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Fund Transfers ,
Hedge Funds ,
Howey ,
Investment Contract ,
Lock-Up Agreement ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Unregistered Securities
Based on updates to its rulemaking agenda that were released last week, the U.S. Securities and Exchange Commission (SEC) has delayed approval of two cybersecurity rules until at least October 2023. Both proposed rules were...more
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, with links to primary resources....more
6/14/2023
/ Conflicts of Interest ,
Corporate Counsel ,
Digital Assets ,
Disclosure Requirements ,
Enforcement Actions ,
Failure To Disclose ,
Investment Adviser ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Share Buybacks ,
Special Purpose Acquisition Companies (SPACs) ,
Transparency