The SEC has continued its enforcement against employers — including privately held companies — that have provisions in their agreements or policies that could potentially discourage whistleblowing or communications with...more
The SEC requires broker-dealers to maintain originals of all communications received and copies of all communications sent by the broker-dealer relating to its business for three years. The SEC has explained that Rule 17a-4...more
This article supplements our article titled “Gag Orders: Stifling Effect on SEC Critics” in the September 2020 edition of this publication.
Any consent judgment with the SEC includes what is often called a “gag clause.”...more
On October 6, 2021, the Department of Justice opened up a new front in cybersecurity compliance when it announced a Civil Cyber-Fraud Initiative using the False Claims Act and other civil enforcement tools against government...more
The SEC routinely requests individuals who may be the subjects or targets of investigations to execute agreements that delay or suspend the time period in a statute of limitations for an agreed period (commonly referred to as...more
Any consent judgment with the SEC includes what is often called a “gag clause.” These clauses prohibit the defendant from challenging the truth of any allegation in the SEC’s complaint or making any statement that might be...more
Certain “bad actors” who settle with the SEC may be subject to automatic disqualifications or collateral consequences under federal securities laws and regulations. The Commission, however, may grant a settling party’s...more
10/9/2019
/ Bad Actors ,
Enforcement Actions ,
Life Insurance ,
Regulatory Oversight ,
Regulatory Requirements ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Settlement ,
Settlement Negotiations ,
Settlement Offer ,
Waivers
After much anticipation, the U.S. Supreme Court ruled on the constitutionality of the Securities and Exchange Commission’s (SEC or Commission) Administrative Law Judges (ALJs)....more
10/3/2018
/ Administrative Agencies ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appeals ,
Appointments Clause ,
Constitutional Challenges ,
Enforcement Actions ,
Final Written Decisions ,
Lucia v SEC ,
Officers of the United States ,
Remand ,
Reversal ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Special Trial Judges (STJs)
In April, the U.S. Supreme Court heard oral argument in Lucia v. SEC to resolve the federal circuit court split on whether the SEC’s administrative law judges (ALJs) are "inferior officers" of the United States who must be...more
7/9/2018
/ Administrative Agencies ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appeals ,
Appointments Clause ,
Constitutional Challenges ,
Enforcement Actions ,
Final Written Decisions ,
Lucia v SEC ,
Officers of the United States ,
Remand ,
Reversal ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Special Trial Judges (STJs)
The Tenth Circuit Court of Appeals, in Bandimere v. SEC, recently held that the SEC’s administrative law judges (ALJs) are “inferior officers” whose appointments violate the Appointments Clause of the U.S. Constitution...more
Previously, we advised that the Securities and Exchange Commission’s increased preference for bringing enforcement actions in its in-house court had triggered jurisdictional and constitutional challenges to SEC administrative...more
- Fed Takes First Steps Toward Setting Capital Requirements for Some Insurers
- New Wave of COI Rate Increase Lawsuits Hits the Industry
- STOLI Policies Cancelled, Insurers Retain Premium
-...more
8/29/2016
/ Administrative Proceedings ,
Capital Requirements ,
Cybersecurity ,
Data Breach ,
Death Master Files ,
Domain Names ,
Electronic Data Transmissions ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Florida ,
Insurance Industry ,
Life Insurance ,
Mutual Funds ,
NAIC ,
National Technical Information Service (NTIS) ,
Pensions ,
Popular ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Spokeo v Robins ,
STOLI ,
Unclaimed Property
IN THE SPOTLIGHT -
- SEC Sanctions Unregistered EB-5 Investments Broker
SECURITIES -
- FINRA to Assess Member Firms’ Culture
- SEC Seeks Fund Responses to Distribution-In-Guise Guidance...more
7/26/2016
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Arbitration ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Debt Buyers ,
Department of Justice (DOJ) ,
EB-5 ,
Electronic Data Transmissions ,
Enforcement Actions ,
Facebook ,
Fair Credit Reporting Act (FCRA) ,
Federal Pilot Programs ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Investment ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Immigrant Investor Program ,
Individual Accountability ,
Inpatient Billing ,
Insurance Industry ,
Investment ,
Job Creation ,
Payday Loans ,
Pensions ,
Popular ,
Property Damage ,
Property Insurance ,
Securities ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Spokeo v Robins ,
Student Loans ,
Two-Midnight Rule ,
Whistleblower Awards ,
Whistleblowers
The SEC’s increased use of its own "home court" for enforcement proceedings has triggered constitutional challenges to SEC administrative proceedings (APs). See "Defendants Challenge SEC’s Increased Use of Administrative...more
7/25/2016
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appointments Clause ,
Article II ,
Bebo v SEC ,
Due Process ,
Enforcement Actions ,
Equal Protection ,
Fourteenth Amendment ,
Non-Delegation Doctrine ,
Removal ,
Right to a Jury ,
Securities and Exchange Commission (SEC) ,
Seventh Amendment
The Dodd-Frank Act expanded the SEC’s jurisdiction to compel administrative hearings and to seek sanctions and remedies similar to those in federal court. The Commission’s recent policy of commencing more enforcement...more