On April 7, 2024, the United States District Court for the District of Connecticut approved the Securities and Exchange Commission’s request to dismiss its action against a hedge fund manager for the manager’s alleged failure...more
On November 22, 2024, the SEC released its fiscal year 2024 enforcement statistics. According to the accompanying press release, the SEC filed 583 total enforcement actions—431 of them standalone actions—while obtaining $8.2...more
11/26/2024
/ Artificial Intelligence ,
Dodd-Frank ,
Enforcement ,
Insider Trading ,
Investment Adviser ,
Investment Companies ,
Market Abuse ,
Non-Public Information ,
Press Releases ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Whistleblower Protection Policies
On April 5, 2024, after an eight-day trial, a jury in the U.S. District Court for the Northern District of California returned a verdict for the Securities and Exchange Commission in its first “shadow trading” case after...more
4/10/2024
/ Asset Management ,
California ,
Commercial Litigation ,
Corporate Governance ,
Fund Managers ,
Insider Trading ,
Investment Adviser ,
Investors ,
Policies and Procedures ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Litigation
DOJ Promotes Compliance Through Compensation and Clawback Programs (3.2.2023):
• The DOJ announced corporate criminal resolutions will now include a requirement that companies implement a compensation and bonus scheme...more
3/10/2023
/ 10b5-1 Plans ,
Bank Fraud ,
CFTC ,
Clawbacks ,
Compensation ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
Securities and Exchange Commission (SEC) ,
Self-Disclosure Requirements
On March 1, 2023, the U.S. Department of Justice (“DOJ”) unsealed an indictment charging Terren S. Peizer, the CEO and Chairman of the Board of Directors of Ontrak Inc., a publicly traded health care company, with engaging in...more
On July 21, 2022, the Securities and Exchange Commission (“SEC”) announced insider trading charges against a former Coinbase product manager, Ishan Wahi, his brother, Nikhil Wahi, and a friend, Sameer Ramani, for trading...more
8/15/2022
/ Civil Monetary Penalty ,
Coinbase ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Disgorgement ,
Enforcement Actions ,
Injunctions ,
Insider Trading ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Violations
On June 1, 2022, the U.S. Attorney’s Office for the Southern District of New York announced the indictment of former OpenSea employee Nathaniel Chastain for an NFT “insider trading” scheme.
From at least June to...more