The First Circuit, in a closely watched securities case, reversed a $93 million summary judgment ruling for the Securities and Exchange Commission this April. ...more
5/1/2025
/ Causation ,
Corporate Counsel ,
Disgorgement ,
Failure To Disclose ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Materiality ,
Revenue Sharing ,
Reversal ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Summary Judgment
With the annual report season underway, calendar year-end public companies are finalizing annual reports on Forms 10-K and 20-F. Risk factors are a key area requiring potential updates to these public filings. Generally, the...more
2/18/2025
/ Annual Reports ,
Disclosure Requirements ,
Environmental Litigation ,
Environmental Protection Agency (EPA) ,
Form 10-K ,
PFAS ,
Publicly-Traded Companies ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Toxic Chemicals
In a landmark decision issued last week, SEC v. Jarkesy, the Supreme Court held that the Seventh Amendment guarantees a defendant a jury trial when the SEC seeks civil penalties against the defendant for committing securities...more
7/8/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Article II ,
Article III ,
Civil Monetary Penalty ,
Constitutional Challenges ,
Enforcement Actions ,
Judicial Authority ,
Jury Trial ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Regulation ,
Seventh Amendment
In SEC v. Govil, No. 22-1658, 2023 WL 7137291 (2d Cir. Oct. 31, 2023), the United States Court of Appeals for the Second Circuit made clear that, in the Second Circuit, the disgorgement remedy available to the SEC pursuant to...more
In implementing diversity initiatives, employers should give thought to how their workplace can benefit from—and how they must potentially accommodate—"neurodiverse" employees.
As Employers Continue to Enhance Their DEI...more
The SEC’s Division of Examinations got a head start this fiscal year, announcing its 2024 Examination Priorities (2024 Priorities) at the beginning of the fiscal year for the first time. This novel approach likely signifies...more
10/25/2023
/ Broker-Dealer ,
Compliance ,
Conflicts of Interest ,
Investment Adviser ,
Market Participants ,
Municipal Advisers ,
Regulation Best Interest ,
Retail Investors ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Transfer Agents
The start of 2023 hasn’t gone much better for the blockchain and cryptocurrency industry than the end of 2022 did. In declining to dismiss a case alleging that non-fungible tokens (NFTs) called Moments are considered...more
The SEC recently unveiled a novel "Shadow Trading" theory that expands insider trading liability. "Shadow Trading" describes when an insider with material, non-public information regarding their own company uses that...more