The SEC has charged a financial firm and its leaders for making false claims about using artificial intelligence (AI) in their automated trading process. This case highlights the critical need for transparency in an increasingly…
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/ Business Organizations, Finance & Banking, Securities Law
Staying the course in compliance is crucial, especially during uncertain political times. Regulatory updates like the new AML rule and Cybersecurity can have a significant impact on your program, and it's important for…
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/ Elections & Politics, Finance & Banking
On November 21, 2024, the Securities and Exchange Commission (SEC) released its examination priorities for 2025. The release offers critical insights into the areas that the SEC will focus on…
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/ Finance & Banking, Securities Law
On November 15, 2024, a Texas federal court issued a final decision (the “Decision”), vacating and setting aside the Department of Labor’s Overtime Rule, released in April 2024, which raised the minimum salary thresholds for…
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/ Administrative Law, Civil Procedure, Labor & Employment Law
Converting a traditional IRA to a Roth IRA? Clients must be aware of a new rule that requires all this year's Required Minimum Distributions (RMDs) to be taken first. Previously, only the RMD on the account being converted had…
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/ Finance & Banking, Taxation
In a significant development for the investment management industry, a large adviser agreed to pay a hefty $17.5 million civil penalty to settle charges with the SEC over misleading statements about its Environmental, Social,…
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/ Business Organizations, Finance & Banking, Securities Law
On Tuesday, August 20, 2024, a Texas federal trial court struck down the Federal Trade Commission’s (“FTC’s”) April 23, 2024, rule banning most non-compete agreements in employment contracts (the “Non-Compete Rule”)…
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/ Antitrust & Trade Regulation, Business Organizations, Labor & Employment Law
As counsel for many socially-conscious businesses, perhaps the most frequent early-stage question we field from entrepreneurs is whether they should organize their business as a traditional business entity (such as a corporation…
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/ Business Organizations
The SEC recently took action against Gainvest Legal Corp. and its owner. This action serves as a stark reminder for others in the financial services industry about the importance of a custom-tailored compliance program and how…
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/ Finance & Banking, Securities Law
One will be forgiven for not closely following the myriad crypto developments in recent years. Mixed signals from regulators have complicated matters: some cryptocurrencies may be securities, some are commodities, some exchanges…
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/ Administrative Law, Finance & Banking, Securities Law
With the effective date of the FTC’s ban on non-competes looming, a federal Judge in Pennsylvania declines to issue a preliminary injunction.
A federal judge in Pennsylvania recently declined to enter an injunction against…
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/ Antitrust & Trade Regulation, Labor & Employment Law
On May 16, the Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P, aimed at modernizing and enhancing the rules governing the treatment of consumers’ nonpublic personal information…
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/ Consumer Protection, Finance & Banking, Privacy, Science, Computers, & Technology, Securities Law
The recent case involving Wayzata Investment Partners and the SEC highlights the potential consequences of pay-to-play violations in the investment advisory industry. It also highlights the effects of slow-moving policy change…
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/ Finance & Banking, Securities Law
The SEC's Director of the Division of Enforcement, Gurbir S. Grewal, outlined five principles of effective cooperation with the SEC during his keynote address at the Securities Enforcement Forum West 2024 conference..…
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/ Business Organizations, Securities Law
At the start of this month, FINRA ordered Merrill Lynch to return nearly $1.5 million to its customers. FINRA determined that Merrill reps recommended that customers purchase products in brokerage accounts rather than advisory…
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/ Consumer Protection, Finance & Banking, Securities Law
