This is the third of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange Commission enforcement actions. Our first article explained why the Seventh...more
7/19/2016
/ Causation ,
Detrimental Reliance ,
Enforcement Actions ,
Enhanced Penalties ,
Jury Instructions ,
Loss Causation ,
Penalties ,
Recklessness ,
Right to a Jury ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Violations ,
Seventh Amendment
This is the second of four articles examining the scope of the Seventh Amendment jury trial right for civil defendants in U.S. Securities and Exchange Commission enforcement actions. The previous article explained why the...more
7/14/2016
/ Administrative Proceedings ,
Civil Monetary Penalty ,
Due Process ,
Enforcement Actions ,
Jury Instructions ,
Right to a Jury ,
Rule of Lenity ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Litigation ,
Securities Violations ,
Seventh Amendment ,
Sixth Amendment
It has been settled law for some time now that the Seventh Amendment right to a jury trial in U.S. Securities and Exchange Commission enforcement actions extends to liability determinations. Unsettled is the question of...more
A federal district court in Minnesota recently held that the Bank Secrecy Act (BSA) permits the Financial Crimes Enforcement Network (FinCEN) to bring suit against individuals for willfully violating the BSA's AML program...more
Last week, the Public Company Accounting Oversight Board (PCAOB) joined the list of regulators who will, in certain circumstances, seek admissions of liability from audit firms and individuals in settlements. Although the...more
10/12/2015
/ Accounting ,
Accounting Standards ,
Admissions of Liability ,
Audit Reports ,
Audits ,
Conflicts of Interest ,
Disciplinary Proceedings ,
Independence Rules ,
Neither Admit Nor Deny Settlements ,
PCAOB ,
Recidivism ,
Settlement ,
Willful Misconduct
Last year, the Enforcement Division of the SEC announced its intention to bring more enforcement actions in its own administrative forum rather than in federal court. The authors describe these administrative proceedings...more
On April 1, the US Securities and Exchange Commission issued—in a settled administrative proceeding—a cease-and-desist order in In the Matter of KBR, Inc., directing that the respondent cease violating Commission Rule...more