As new areas of the law emerge, driven in part by technology and the free flow of information, federal agencies are becoming more aggressive with a tried and true carrot-and-stick approach to law and regulatory enforcement. ...more
7/15/2024
/ Corporate Misconduct ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Government Agencies ,
Incentives ,
Pilot Programs ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Violations ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes
On 27 June 2024, in a ruling much-anticipated by the securities industry and other similarly regulated industries, the Supreme Court (the Court) held in SEC v. Jarkesy that when the Securities and Exchange Commission (SEC)...more
7/5/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Investment Advisers Act of 1940 ,
Jury Trial ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Seventh Amendment ,
Statutory Authority
On 16 October 2023, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year (the Report). The Division released this Report...more
11/3/2023
/ Anti-Money Laundering ,
Asset Management ,
Broker-Dealer ,
Capital Markets ,
Compliance ,
Corporate Counsel ,
Cryptoassets ,
Cybersecurity ,
Duty of Care ,
Enforcement Actions ,
ETFs ,
FinTech ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Firms ,
Popular ,
Securities and Exchange Commission (SEC)
The United States Supreme Court recently heard oral argument in a case arising under the whistleblower provisions of the Sarbanes-Oxley Act of 2002 (SOX), presenting the question of who must prove intent in a whistleblower...more
The Fifth Circuit Court of Appeals recently affirmed the dismissal of a shareholder derivative suit filed against the manager and trustees of a Massachusetts business trust and SEC-registered investment company. In doing so,...more
On 30 March 2022, the Division of Examinations (the Division) of the U.S. Securities and Exchange Commission (SEC) released its examination priorities for the 2022 fiscal year. The Division highlighted five “significant focus...more
Four months after the expiration of the $659 billion forgivable loan relief program established by the CARES Act, the federal government has disbursed approximately 5.2 million Paycheck Protection Program (PPP) loans....more
On October 8 and 9, the Securities and Exchange Commission (SEC or Commission) held its annual “SEC Speaks” program in partnership with the Practicing Law Institute, this year in a virtual format and after a several-month...more
In a strong opinion, a federal court in the Southern District of New York recently dismissed a suit alleging that the defendant charged “excessive” fees to a mutual fund....more
Consistent with recent trends, 2018 saw significant activity in False Claims Act (“FCA”) litigation. While the government has made efforts to formalize its approach to FCA dismissals, the lower courts have continued to...more
The Supreme Court recently resolved a circuit split affecting employers subject to the anti-retaliation provisions set forth in Section 21F of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”)....more
3/1/2018
/ Anti-Retaliation Provisions ,
Digital Realty Trust Inc v Somers ,
Dodd-Frank ,
Internal Reporting ,
Reporting Requirements ,
Retaliation ,
Sarbanes-Oxley ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Whistleblower Protection Policies ,
Whistleblowers
At the 34th International Conference on the Foreign Corrupt Practices Act held last week in Washington, D.C., industry executives, members of the defense bar, and regulators examined developments in the enforcement of the...more
12/8/2017
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
On Wednesday, May 24, 2017, the U.S. Court of Appeals for the District of Columbia Circuit, sitting en banc, heard arguments in Raymond J. Lucia Cos. v. SEC, a case in which it is tasked with deciding whether the...more
In the final days of 2016, the U.S. Court of Appeals for the Tenth Circuit denounced the constitutional authority of the five administrative law judges (“ALJs”) who preside over contested administrative proceedings brought by...more
On April 5, 2016, the Department of Justice (“DOJ”) introduced a yearlong “Pilot Program” to guide the conduct of investigations and prosecutions pursuant to the Foreign Corrupt Practices Act (“FCPA”). Announced by Assistant...more
On November 10, 2015, the employer in a high-profile whistleblower-retaliation case advised the United States Court of Appeals for the Second Circuit that it “will not be pursuing a petition for writ of certiorari with the...more