The US Securities and Exchange Commission (SEC) and Department of Justice (DOJ) on June 29, 2023 brought insider trading charges against several defendants in four proceedings. The insider trading cases demonstrate key focus...more
The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and summarizes...more
3/2/2021
/ Biden Administration ,
BSA/AML ,
Disgorgement ,
Enforcement Actions ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
Swaps ,
TRACE ,
Whistleblowers
Most media accounts suggest that the incoming Biden administration will usher in a more “aggressive” SEC enforcement posture, with renewed emphasis on investigating potential fraud and controls deficiencies at public...more
1/14/2021
/ Analytics ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Disgorgement ,
Enforcement Actions ,
Infectious Diseases ,
Insider Trading ,
Public Disclosure ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Share Buybacks
In a recent keynote speech, Co-Director of the US Securities and Exchange Commission’s Division of Enforcement Steven Peikin made it clear that the Division has made coronavirus (COVID-19) related enforcement matters a top...more
5/15/2020
/ Accounting Fraud ,
Coronavirus/COVID-19 ,
Enforcement Actions ,
Failure To Disclose ,
Government Investigations ,
Insider Trading ,
Securities and Exchange Commission (SEC) ,
Share Redemption ,
Steering Committees ,
Trading Suspension ,
Vaccinations ,
Whistleblowers
In a decision beneficial to the US Securities and Exchange Commission, the US Supreme Court has affirmed that those persons who disseminate statements containing material misrepresentations or omissions are primarily liable...more
3/28/2019
/ Appeals ,
Enforcement Actions ,
False Statements ,
Fines ,
Intent to Defraud ,
Investment Banks ,
Lorenzo v SEC ,
Material Dissemination ,
Misleading Statements ,
Reaffirmation ,
Rule 10b-5 ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Suspensions
On June 21, in Lucia v. Securities and Exchange Commission, the US Supreme Court held that administrative law judges of the US Securities and Exchange Commission are not mere federal employees but qualify as “Officers of the...more
6/25/2018
/ 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 an environment where even the largest and most powerful corporations have fallen victim to data breaches, it can be challenging to fathom how to protect against the sophisticated and ever-evolving threat of cyber attacks....more
10/12/2015
/ Broker-Dealer ,
Corporate Governance ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Loss Prevention ,
Data Privacy ,
Data Protection ,
Data Security ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
FTC v Wyndham ,
Identity Theft ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Popular ,
Registered Investment Advisors ,
Regulation S-P ,
Risk Alert ,
Sanctions ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Training ,
Vendors
Companies are reminded of the need for strong internal controls.
The US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) recently filed civil and criminal actions in the largest hacking and...more
9/15/2015
/ Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Data Transfers ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FTC v Wyndham ,
Hackers ,
Internal Controls ,
OCIE ,
Risk Alert ,
Risk Management ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Third-Party ,
Unfair or Deceptive Trade Practices
Stung by adverse court rulings in some of its enforcement cases, the SEC is bringing more of those cases in its own forum—an SEC administrative proceeding.
...more