News & Analysis as of

Enforcement Actions

DOJ Sues Foreclosure Trustee for Illegally Foreclosing on Homes of Servicemembers

by Goodwin on

On November 9, the Department of Justice (“DOJ”) annou?nced its lawsuit against a foreclosure trustee for wrongfully foreclosing on at least twenty-eight servicemembers in violation of the Servicemembers Civil Relief Act...more

FCPA Violators Beware—SEC To Double Down On Enforcement

The SEC has signaled plans to double down on its FCPA enforcement efforts and speed up FCPA investigations. On November 9, 2017, Steven Peikin, Co-Director of the SEC’s Enforcement Division, delivered a speech at New York...more

Skilled Nursing Facilities Targeted in Government Enforcement Actions and Qui Tam Lawsuits

by Pepper Hamilton LLP on

Skilled nursing facilities (SNFs) have been the subject of multiple high-profile False Claims Act settlements in recent years, and new pronouncements and pending enforcement actions suggest that SNFs will continue to face...more

CFPB Files Suit Against National Debt-Settlement Services Provider For Allegedly Misleading Consumers

by Goodwin on

On November 8, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced it filed suit in federal court in California against a national debt-settlement services provider and its CEO based on alleged violations of the...more

SEC Expected to Expedite FCPA Investigations in Light of Kokesh

by McGuireWoods LLP on

On November 9, 2017, Steven R. Peikin, Co-Director of the SEC’s Division of Enforcement, delivered a keynote speech at a conference commemorating the 40th anniversary of the enactment of the Foreign Corrupt Practices Act...more

SEC Announces Enforcement Results, Sets New Priorities

On November 15, 2017, the SEC announced the results of its enforcement actions for fiscal year 2017 and stated its enforcement priorities for fiscal year 2018. During fiscal year 2017, the SEC brought 754 enforcement...more

SEC’s Announcement of Chief of FCPA Unit Signals Possible Anti-Bribery Enforcement Focus on Non-U.S.

by Reed Smith on

Non-U.S. companies traded on the United States stock exchanges, take notice: you may be receiving increased attention from the U.S. Securities and Exchange Commission’s (“SEC’s”) anti-bribery arm. This client alert by...more

Financial Regulatory Developments Focus - November 2017

by Shearman & Sterling LLP on

In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more

UK Financial Conduct Authority Decision to Ban Ex-Libor Trader Hayes Delayed Pending Criminal Review

by Shearman & Sterling LLP on

The Financial Conduct Authority has announced that it has decided to prohibit former trader Tom Hayes from performing any function relating to any regulated activity in the financial services industry. The FCA stated that Mr....more

Bulldozing The Backlog & Doubling Filings: EEOC’s 2017 Performance And Accountability Report Shows Decreased Inventory And A Surge...

by Seyfarth Shaw LLP on

Seyfarth Synopsis: On November 15, 2017, the EEOC released its annual Performance and Accountability Report for Fiscal Year 2017 – its internal “report card” for its fiscal year 2017. The report touts the EEOC’s progress in...more

OFCCP Required To Share Statistical Findings In Enforcement Action

by Hogan Lovells on

Employers facing a determination by the OFCCP (Office of Federal Contract Compliance Programs) that they have violated the anti-discrimination laws applicable to federal contractors often confront a black box when trying to...more

CFPB opposes petition for certiorari filed by tribal lenders in Ninth Circuit case

by Ballard Spahr LLP on

The CFPB has filed a brief opposing the petition for certiorari filed by two tribally-affiliated lenders seeking U.S. Supreme Court review of the Ninth Circuit’s decision in CFPB v. Great Plains Lending, LLC, et al. In that...more

The Future of FCPA Enforcement After Kokesh

Increased international cooperation, more aggressive investigations and greater focus on individual accountability. In light of the U.S. Supreme Court’s decision in Kokesh v. SEC, the SEC is expected to prioritize quicker,...more

Consultant, Long Time Friend Settle SEC Insider Trading Charges

by Dorsey & Whitney LLP on

SEC Enforcement is shifting focus to consumers and cyber-security according to the Chairman. Whether that marks the end of “broken windows” and many of the programs the approach spawned is yet to be seen. Regardless, insider...more

What Employers Should Know About The EEOC’s New Focus

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Blog readers will recall our Vlog in early October recapping the EEOC’s 2017 Fiscal Year. Today, Jerry Maatman of Seyfarth Shaw, LLP discusses recent developments from the EEOC that ought to be “required...more

SEC Agenda Will Focus on Transparency

by McGuireWoods LLP on

In a Nov. 8, 2017, speech at the Practising Law Institute on Securities Regulation, Securities and Exchange Commission (SEC) Chairman Jay Clayton previewed the SEC’s near-term agenda. In his published remarks, Clayton...more

CFTC Fines Cargill $10 Million For Misreporting Swap Trades

by Shearman & Sterling LLP on

On November 6, 2017, the U.S. Commodity Futures Trading Commission (“CFTC”) filed a settled enforcement action against Cargill, Inc. (“Cargill”), an agriculture commodities trader, for allegedly misrepresenting the mid-market...more

SEC Charges Wells Fargo With Failing to File SARs

by Dorsey & Whitney LLP on

The Commission has an on-going program monitoring whether broker-dealers timely file suspicious activity reports or SARS with the Financial Crimes Network or FinCEN. Its most recent case in this area focused on the failure of...more

Initial Coin Offerings (ICOs) May Be Subject to SEC Registration Requirements

by Bryan Cave on

Initial Coin Offerings (ICOs) and other digital currency financing events have enjoyed explosive growth in 2017, with hundreds of millions of dollars invested with little to no regulation or government oversight. That era...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The DOJ unsealed criminal charges against five individuals involved in the Rolls-Royce FCPA action previously brought by the DOJ, SFO and Brazilian authorities. The charges were filed in the Southern District of Ohio. Each...more

Cain Takes the Reins as Chief of SEC’s FCPA Unit

by Moore & Van Allen PLLC on

With the official announcement that Charles Cain will replace Kara Brockmeyer as head of the SEC’s Foreign Corrupt Practices Act (FCPA) Unit, it is more likely that we will see a return to the enforcement trends and outcomes...more

SEC Cyber Watch: Finally, New Guidelines for Breach Disclosures?

The U.S. Securities and Exchange Commission has signaled that it expects to issue updated guidelines on reporting cybersecurity incidents. “I think this issue is important enough, wide-ranging enough that we should tackle...more

The FCPA Week That Was — Seven Individuals Charged for FCPA Violations

by Michael Volkov on

To all the “nattering nabobs of negativity” concerning FCPA enforcement, the US Justice Department responded with a resounding message – not only is FCPA enforcement here to stay, but individual violators are on DOJ’s radar...more

Partnering Perspectives - Fall 2017

With the US poised to decrease regulation and the outcome of Brexit unknown, multinational institutions face a great deal of unpredictability in the regulatory landscape. In this edition of Partnering Perspectives, we look at...more

So Who Wants To Lie On Their U-4

by Fox Rothschild LLP on

The SEC recently upheld a statutory disqualification that FINRA imposed where the representative filed a false U-4 and falsely answered compliance questionnaires. It appears as though the registered representative failed to...more

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Cybersecurity

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