Consumer Finance Monitor Podcast Episode: A Deep Dive into Mass Mailings by Debt Relief Law Firms
In its third action involving NFTs, the SEC targets a restaurant membership token tied to fundraising and promises of potential price appreciation for buyers....more
The SEC recently announced the settlement of multiple enforcement actions for violations of its whistleblower protection rule, which prohibits “any action to impede an individual from communicating directly with the...more
This blog involves a unique approach being used by a Hawaii law firm to seek to uncover the name, address, email address, MAC address and other information about alleged copyright infringers. The firm is using a DMCA 512(h)...more
Does the R.R. Donnelley settlement mean heightened Securities and Exchange Commission (SEC) involvement in regulating public companies’ cybersecurity policies and practices? Our Securities Litigation, Privacy, Cyber & Data...more
The SEC on Feb. 29, 2024, announced settled charges against Lordstown Motors Corp. (Lordstown) for allegedly misleading investors about sales prospects for the Endurance, Lordstown's flagship pickup truck for the electric...more
The BarnBridge decentralized autonomous organization (the DAO), along with its founders, agreed to a cease-and-desist order (Order), settling charges brought by the US Securities and Exchange Commission (SEC) finding that its...more
Who may be interested: Investment Advisers, Broker-Dealers - Quick Take: The SEC settled charges against a firm that allegedly prevented brokerage customers and advisory clients from reporting potential securities law...more
Who may be interested: Registered Investment Companies. Quick Take: The SEC recently settled charges against two credit rating agencies for alleged violations relating to recordkeeping, disclosure and internal controls....more
This public offering purportedly raised approximately $8.2 million from investors to finance Stoner Cats, an adult animated television show featuring house cats that gain sentience after exposure to their owner’s medical...more
Who may be interested: Investment Advisers. Quick Take: The SEC recently settled charges with nine investment advisers related to their use of hypothetical performance information on their websites without adopting or...more
The Maine Office of Securities enforces Maine’s securities laws, licenses broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives, and reviews registration statements and exemption...more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC recently settled charges against an investment adviser (Adviser) and one of the Adviser’s partial owners for breach of fiduciary duty in...more
Who may be interested: Registered Investment Advisers, Robo-advisers, Compliance Staff. Quick Take: The SEC settled charges against a registered adviser for misstating and omitting material information about the...more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC settled charges against a registered investment adviser alleging that the adviser failed to timely disclose to its private fund clients its...more
On March 14, 2023, DXC Technology Company (“DXC”) settled with the Securities and Exchange Commission (“SEC”) for $8 million regarding alleged misleading disclosures in DXC’s public filings. The SEC claimed DXC made...more
Who may be interested: Investment Advisers, Boards of Directors to Investment Companies. Quick Take: A former portfolio manager for a registered closed-end fund settled charges with the SEC for failing to disclose a...more
The SEC seeks to regulate trading through internal compliance processes. The SEC settled insider trading charges in relation to misuse of a Rule 10b5-1 plan established in the name of a British Virgin Islands entity owned...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more
On January 13, 2022, the Securities and Exchange Commission (SEC) announced settled charges against CMG Capital Management Group, Inc. (CMG), a registered investment adviser for failing to adopt and implement policies and...more
On September 16, 2021, the Securities and Exchange Commission (the “SEC”) charged Sweetwater Union High School District, a San Diego County School District (the “District”) and its former Chief Financial Officer (the “CFO”),...more
On September 16, 2021, the Securities and Exchange Commission (“SEC”) entered an order against a school district (Sweetwater Union High School District (the “District”) in San Diego County, California) and charged the school...more
On January 8, 2021, the SEC issued a cease-and-desist order, Release No., 90875 (available here), formally resolving proceedings against Deutsche Bank AG. Deutsche Bank agreed to pay over $125 million as part of a global...more
On Friday, November 13, 2020, the U.S. Securities and Exchange Commission (“SEC” or “Agency”) followed up its February 2020 action against Wells Fargo & Co. (“Wells Fargo”) with actions against two senior officers—former...more
On September 23, 2019, the Securities and Exchange Commission (“SEC”) charged accounting firm PricewaterhouseCoopers LLP (“PwC”) with improper professional conduct and violating auditor independence rules. The SEC also...more
On November 8, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that it settled charges against Zachary Coburn, the founder of blockchain token trading platform EtherDelta, over operating an unregistered...more