Key Points -
- The SEC’s Crypto Task Force acknowledges past hostility toward digital assets and aims to create more sensible regulations.
- Tokenized securities face complex regulatory challenges, including compliance...more
5/28/2025
/ Acquisitions ,
Blockchain ,
Broker-Dealer ,
Corporate Governance ,
Cryptocurrency ,
Digital Assets ,
Energy Sector ,
Financial Institutions ,
Financial Services Industry ,
Healthcare ,
Investment Company Act of 1940 ,
Life Sciences ,
Mergers ,
Private Equity ,
Retail Market ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Securities Tokens ,
Technology
Matthew Galeotti’s recent memorandum as head of the Department of Justice’s (DOJ’s) Criminal Division echoes the Trump administration’s “America First” priorities. It directs the Criminal Division to “strike an appropriate...more
Key Points -
- In 2024, securities litigation remained consistent with historical averages, with a slight increase in core filings and cases related to COVID-19 and artificial intelligence.
- The U.S. Supreme Court had an...more
2/27/2025
/ Acquisitions ,
Automotive Industry ,
Class Action ,
Class Certification ,
Corporate Counsel ,
Digital Assets ,
Filing Requirements ,
Item 303 ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Mergers ,
Popular ,
Private Securities Litigation Reform Act of 1995 ,
PSLRA ,
Real Estate Market ,
Rule 10b-5 ,
SEC v Jarkesy ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Technology Sector
Key Points -
- During its 2024 term, the U.S. Supreme Court is poised to provide important guidance on the Private Securities Litigation Reform Act’s (PSLRA’s) particularity requirement in NVIDIA Corp. v. E. Ohman J:or...more
12/6/2024
/ Acquisitions ,
Automotive Industry ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Digital Assets ,
E-Commerce ,
Electric Vehicles ,
Energy Sector ,
Financial Institutions ,
Financial Services Industry ,
Healthcare ,
Investment Adviser ,
Life Sciences ,
Mergers ,
NVIDIA ,
Nvidia Corp v E Ohman J or Fonder AB ,
Pharmaceutical Industry ,
PSLRA ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Technology Sector ,
Trading Platforms
On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (FEPA) as part of the fiscal year 2024 National Defense Authorization Act. FEPA criminalizes demand-side bribery by foreign officials...more
1/9/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
Corruption ,
Extortion ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Hobbs Act ,
NDAA ,
White Collar Crimes
Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more
11/16/2023
/ AML/CFT ,
Compensation ,
Corporate Misconduct ,
Criminal Investigations ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Derivatives ,
Digital Assets ,
Enforcement Actions ,
Fraud ,
Futures ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Insurance Industry ,
Internal Controls ,
Investors ,
Jurisdiction ,
Know Your Customers ,
Licensing Rules ,
Misleading Statements ,
New Regulations ,
Popular ,
Regulatory Agenda ,
Retail Investors ,
Securities ,
Stablecoins ,
Stock Trades ,
Trading Platforms
On September 28, 2023, the Cyberspace Administration of China (CAC) published the draft Provisions on Regulating and Promoting Cross-Border Data Transfers (Draft Provisions). If adopted into law in their current form, the...more
In a speech on October 24, 2023, the director of the Securities and Exchange Commission’s (SEC’s) Enforcement Division, Gurbir Grewal, described the scenarios in which the commission would bring an enforcement action against...more
On July 26, 2023, the U.S. Department of Justice’s (DOJ’s) National Security Division (NSD), the U.S. Department of Commerce’s Bureau of Industry and Security (BIS), and the U.S. Department of the Treasury’s Office of Foreign...more
8/1/2023
/ Bureau of Industry and Security (BIS) ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
International Trade ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Self-Disclosure Requirements ,
U.S. Commerce Department ,
U.S. Treasury ,
Voluntary Disclosure ,
Whistleblowers
DOJ Increases Resources To Investigate and Prosecute Sanctions Evasion and Export Control Violations -
On March 2, 2023, during a keynote speech at the American Bar Association’s annual White Collar Crime National...more
3/17/2023
/ Anti-Corruption ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Corporate Entities ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Sanctions ,
EU ,
Export Controls ,
Exports ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
International Trade ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Self-Disclosure Requirements ,
U.S. Commerce Department ,
U.S. Treasury ,
UK ,
Voluntary Disclosure
In early March 2023, the Department of Justice (DOJ) released several important updates to its policies related to corporate crime enforcement and compliance programs. We discuss below the following key topics:
(i) The DOJ...more
3/13/2023
/ Corporate Crimes ,
Corporate Entities ,
Corporate Financing ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Employees ,
Executive Compensation ,
Financial Institutions ,
Instant Messaging Apps ,
Mobile Devices ,
Pilot Programs ,
White Collar Crimes
On February 22, 2023, the Department of Justice (DOJ) adopted a new policy that establishes a national standard for voluntary self-disclosure credit in corporate criminal enforcement actions brought by U.S. Attorneys’ Offices...more
In a recently published memorandum, Deputy Attorney General (DAG) Lisa Monaco announced important updates to the U.S. Department of Justice’s (DOJ’s) approach to investigating and prosecuting corporate crimes. In the...more
The Chinese regulatory authorities have published several new regulations and proposals in the past two months seeking to clarify the requirements of the Chinese Personal Information Protection Law (the PIPL) that came into...more
Key Points and Practical Advice In February 2022, the U.S. Department of Justice (DOJ) announced that the China Initiative, launched in November 2018 to counter perceived threats to U.S. national security from China, was...more
On February 23, 2022, Assistant Attorney General (AAG) Matthew Olsen, the head of the Department of Justice’s (DOJ) National Security Division (NSD), announced that a review of the China Initiative begun under the Trump...more
This year, we expect to see new disclosure requirements; rule changes at the Securities and Exchange Commission that will affect directors; activists adopting new tactics; changes to shareholder voting processes; tax and...more
Takeaways -
Chinese investments requiring CFIUS review have declined as the U.S. scrutinizes those transactions aggressively, and rules governing interactions with “Chinese military-industrial complex companies” have been...more
Two new Chinese laws dealing with data security and privacy came into force in the fall of 2021 that are likely to have an impact on many multinational companies operating in China or whose operations touch China. These two...more
11/4/2021
/ Algorithms ,
Artificial Intelligence ,
China ,
Corporate Counsel ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
International Data Transfers ,
Personal Information ,
Personal Information Protection Law (PIPL)
On November 12, 2020, President Trump signed Executive Order 13959 prohibiting U.S. persons from engaging in any transaction in publicly traded securities in “Communist Chinese military companies” (CCMCs), effective January...more
11/18/2020
/ Biden Administration ,
China ,
Department of Defense (DOD) ,
Executive Orders ,
Foreign Relations ,
National Security ,
NDAA ,
Office of Foreign Assets Control (OFAC) ,
Publicly-Traded Companies ,
Securities Transactions ,
Trump Administration
In the wake of China’s new national security law for Hong Kong that went into effect on June 30, 2020, the Trump administration has taken several steps to significantly pare back Hong Kong’s preferential status under U.S....more
7/20/2020
/ Bureau of Industry and Security (BIS) ,
China ,
Economic Sanctions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Financial Institutions (FFI) ,
Foreign Persons ,
Hong Kong ,
Hong Kong Autonomy Act (HKAA) ,
Human Rights ,
Office of Foreign Assets Control (OFAC) ,
Preferential Trade Status ,
Revocation ,
Risk Assessment ,
Rollbacks ,
Trump Administration ,
U.S. Commerce Department ,
US Trade Policies
On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was...more
7/17/2020
/ Accounting Controls ,
Acquisitions ,
Co-Conspirators ,
Compliance ,
Conspiracies ,
Department of Justice (DOJ) ,
Disgorgement ,
Due Diligence ,
FCPA Resource Guide ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Instrumentality ,
Intent ,
Meals-Gifts-and Entertainment Rules ,
Mergers ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Third Party Payments ,
Travel
Addressing the Evolving Risks -
Warren Buffett said that “only when the tide goes out do you discover who’s been swimming naked.” Buffett was not talking about compliance programs in a time of crisis, but his wisdom applies...more
5/2/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Compliance ,
Coronavirus/COVID-19 ,
Corporate Misconduct ,
Cybersecurity ,
Disclosure Requirements ,
Economic Sanctions ,
Enforcement Actions ,
FFIEC ,
Financial Distress ,
Financial Fraud ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Market Manipulation ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Public Health Emergency ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Mitigation ,
Sanction Violations ,
Securities and Exchange Commission (SEC)
In May 2019, the United States government made available a private right of action under Title III of the Cuban Liberty and Democratic Solidarity (Libertad) Act of 1996 (also known as Helms-Burton), 22 U.S.C. §§ 6021-6091....more
Although U.S.-China bilateral tensions eased to a degree earlier this year with the signing of an interim trade agreement, fundamental differences remained. These differences — such as the role that China’s industrial policy...more
4/2/2020
/ Bilateral Agreements ,
China ,
China Initiative ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Failure To Disclose ,
False Statements ,
Mail Fraud ,
Trump Administration ,
US Trade Policies ,
Wire Fraud