This year, regulators, supported by a slate of new legislation, have focused more of their efforts on AML violations and compliance deficiencies than ever before. As we have written about in the "AML Enforcement Continues to...more
8/24/2021
/ Anti-Money Laundering ,
CFTC ,
Cryptocurrency ,
Financial Crimes ,
FinCEN ,
IRS ,
Money Laundering ,
NDAA ,
Popular ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury
Demonstrating the effect recent enforcement efforts have had on the industry, in remarks given in Washington, DC at a Compliance Outreach Program for broker-dealers, Securities and Exchange Commission Chairman Mary Jo White...more
A defendant in an insider trading case who allegedly profited from his inside knowledge recently filed a motion to dismiss in the US District Court for the District of Rhode Island to drop him from a Securities and Exchange...more
CFTC Extends Designation of DTCC-SWIFT as Provider of Legal Entity Identifiers -
On July 20, the Commodity Futures Trading Commission issued an order extending the designation of the Depository Trust and Clearing...more
7/27/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
AML/CFT ,
Banking Sector ,
CFTC ,
Chief Compliance Officers ,
EU ,
FATF ,
Federal Reserve ,
FinCEN ,
Global Systemically Important Banks (G-SIBs) ,
Illegal Tipping ,
Insider Trading ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
On June 9, Chad Wiegand and Akis Eracleous, two San-Diego based brokers, pled guilty in California district court to trading in Ardea Biosciences, Inc. stock with inside information.
Mr. Wiegand and Mr. Eracleous,...more
In This Issue:
- SEC Denies Motion to Stay Regulation A+
- SEC Requests Public Comment on ETPs
- CFTC Further Extends Valuation Data Reporting Relief for SDs and MSPs
- Eleventh Circuit Upholds...more
6/22/2015
/ Alternative Investment Funds ,
AMF ,
Banking Sector ,
Broker-Dealer ,
Brokers ,
CFTC ,
Commodities ,
Corporate Governance ,
Exchange-Traded Products ,
FDIC ,
Food Commodities ,
Insider Trading ,
Mortgage Lenders ,
Mortgages ,
OCC ,
Regulation A ,
Securities and Exchange Commission (SEC) ,
Wire Fraud
The US District Court for the District of Columbia took the unusual step of granting summary judgment against a technology company executive who the Securities and Exchange Commission accused of various violations of the...more
4/15/2015
/ C-Suite Executives ,
Enforcement Actions ,
Filing Requirements ,
Material Misstatements ,
Popular ,
Rule 10b-5 ,
Section 16 ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud
In This Issue:
- NFA Updates BASIC to Assist With Bylaw 1101 Diligence on Delegating CPOs
- Second Circuit Refuses to Rehear Groundbreaking Insider Trading Case
- SEC Secures Victory on Fraud Allegations...more
The Securities and Exchange Commission agreed to a settlement with Hajime Sagawa related to his alleged role as the principal and minority owner of a broker-dealer that assisted Japan based Olympus Corporation in its...more
In this issue:
- Meeting of the SEC Advisory Committee on Small and Emerging Companies
- Financial Action Task Force Publishes Updated List of Deficient Jurisdictions
- CFTC to Host Roundtable on...more
3/9/2015
/ CFTC ,
Cybersecurity ,
Destruction of Evidence ,
EU ,
FATF ,
Foreign Banks ,
Jurisdiction ,
Risk Alert ,
Sarbanes-Oxley ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Small Business ,
Volcker Rule
Academics in Hong Kong have found that companies that have adopted executive compensation clawback provisions tend to substitute one type of earnings manipulation for another, and that this trend is more pronounced in...more
In this issue:
- SEC Division of Corporation Finance Issues New C&DI Related to Resales Under Regulation S
- SEC Announces Proxy Voting Roundtable
- CFTC Staff Issues No-Action Relief From Certain...more
2/2/2015
/ AIFM ,
Anti-Money Laundering ,
Brokers ,
C&DIs ,
CFTC ,
Clawbacks ,
CME NYMEX ,
EU Directive ,
Forex ,
Insider Trading ,
Major Swap Participants ,
Netherlands ,
No-Action Relief ,
Proxy Voting Guidelines ,
Regulation S ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
UK
The US Court of Appeals for the Second Circuit recently held that, in order to convict a tippee for insider trading under Section 10(b) of the Securities Act of 1934 and Rule 10b-5, the government must prove beyond a...more
On December 8, the Securities and Exchange Commission sanctioned a computer programmer for operating two online exchanges that traded securities using virtual currencies without registering them as broker-dealers or stock...more
In this issue:
- Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements
- SEC Approves MSRB Best Execution Rule
- SEC Sanctions Operator of Unregistered Virtual...more
12/15/2014
/ Banks ,
Basel Committee on Banking Supervision (BCBS) ,
Bitcoin ,
Currency Exchange ,
Cybersecurity ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Insider Trading ,
Investors ,
MiFID ,
MSRB ,
Proxy Season ,
Proxy Statements ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Shareholders ,
Virtual Currency
Convicted investment fund founder Raj Rajaratnam filed an appeal of his Securities and Exchange Commission case in the United States Court of Appeals for the Second Circuit, arguing that the district court improperly sought...more
The Securities and Exchange Commission recently charged a former pharmaceutical company executive and his longtime friend with insider trading, alleging that the friend generated more than $1 million in illicit profits by...more
In this issue:
- SEC Sanctions 10 Companies for Disclosure Failures Surrounding Financing Deals and Stock Dilution
- Delaware Court of Chancery Rejects Entire Fairness Review in Absence of Conflicted...more
11/10/2014
/ CFTC ,
Compliance ,
Dilution ,
Disclosure Requirements ,
Enforcement ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Financing ,
Futures Commission Merchants (FCMs) ,
Mutual Funds ,
NFA ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
UK ,
Virtual Currency
The Securities and Exchange Commission recently accepted an offer of settlement submitted by Filip Szymik, in anticipation of a cease-and-desist proceeding resulting from the purported insider trading in Herbalife, Ltd....more
In this issse:
- ISS Publishes Results of Annual Global Voting Policy Survey
- FINRA Requests Comment on a Rule Proposal to Implement the Comprehensive Automated Risk Data System
- NFA Issues Notice...more
10/6/2014
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Derivatives ,
Designated Contract Markets (DCMs) ,
Enforcement ,
Enforcement Actions ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
Institutional Shareholder Services (ISS) ,
MiFID ,
NFA ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SEFs
On August 15, the Securities and Exchange Commission filed a complaint against Heidi Ann Gamer and two companies under her control, Gamer Economic Systems, LLC and Gamer Media Partners Corp. The SEC alleged that between...more
In this issue:
- ISS Launches New Equity Plan Data Verification Portal
- ISDA Publishes Protocol for 2014 Credit Derivatives Definitions
- FinCEN Issues Advisories for US Financial Institutions
-...more
8/25/2014
/ CFTC ,
Class Action ,
Class Certification ,
Compliance ,
Contests & Promotions ,
Derivatives ,
EMIR ,
Equity Plans ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Fraud ,
Institutional Shareholder Services (ISS) ,
ISDA ,
Judge Rakoff ,
OCC ,
Rule 10(b) ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
SEFs ,
Social Media ,
Swap Dealers ,
Swaps
The Securities and Exchange Commission recently announced a settlement with a partner at an investor relations firm who allegedly traded on inside information obtained through his representation of two companies. ...more
In this issue:
- SEC Approves FINRA Rule Limiting Expungement
- CFTC Issues No-Action Relief from Certain Ownership and Control Reporting Requirements
- CFTC Releases Rule Enforcement Review of ICE...more
On June 3, the Securities and Exchange Commission filed an emergency enforcement action in the US District Court for the Southern District of New York against Scott Valente, an investment adviser, alleging that he used his...more