News & Analysis as of

Enforcement Actions Self-Reporting

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for August 2024

More Flack on WhatsApp, Hypothetical Performance SmackDown, A Timely Warning on the Pay-to-Play Rule, and Updates to Qualifying Venture Capital Fund Exemption - This month's big news from the SEC was more piggy-bank breaking...more

White & Case LLP

SEC Continues Focus on Off-Channel Communications

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On August 14, the U.S. Securities and Exchange Commission (“SEC”) announced yet another wave of enforcement actions related to widespread “off-channel communications,” charging an additional 26 firms with failing to maintain...more

Hogan Lovells

U.S. announces export enforcement and compliance resources for academic research institutions

Hogan Lovells on

The U.S. Department of Commerce’s Bureau of Industry and Security has published a compliance note on voluntary self-disclosure trends and a compendium of export compliance resources targeted to the academic community. The...more

White & Case LLP

SEC Enforcement Director Outlines His View of Effective Cooperation

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In February 2024, we published an alert discussing the significant benefits of prompt self-reporting and cooperation during a US Securities and Exchange Commission ("SEC") investigation. This past week, during his keynote...more

Vinson & Elkins LLP

Securing Integrity: The SEC and DOJ’s Unified Front and Pursuit of Novel Legal Tactics Against Insider Trading and Corporate...

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The U.S. Securities and Exchange Commission (“SEC”) and Department of Justice (“DOJ”) have been working increasingly collaboratively to combat unlawful trading practices and hold wrongdoers accountable, demonstrating...more

Kohn, Kohn & Colapinto LLP

The Double-Edged Impact of AI Compliance Algorithms on Whistleblowing

As the implementation of Artificial Intelligence (AI) compliance and fraud detection algorithms within corporations and financial institutions continues to grow, it is crucial to consider how this technology has a twofold...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Enforcement Director Addresses Self-Reporting Benefits

On April 11, 2024, Ian McGinley, the director of enforcement at the Commodity Futures Trading Commission (CFTC) addressed the New York City Bar Association Futures and Derivatives Committee to present the benefits of...more

White & Case LLP

The SEC’s Settlement with Cloopen Demonstrates the Significant Benefits of Prompt Cooperation

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On February 6, 2023, the US Securities and Exchange Commission ("SEC") announced that it settled accounting fraud charges against Cloopen Group Holding Limited ("Cloopen" or the "Company"), a cloud-based communications...more

WilmerHale

Global Anti-Bribery Year-in-Review: 2023 Developments and Predictions for 2024

WilmerHale on

Publicly announced Foreign Corrupt Practices Act (FCPA) enforcement activity in 2023 did not return to the levels seen a few years ago, as indicated by both the total number of cases against corporate and individual...more

Cornerstone Research

SEC Cryptocurrency Enforcement Report Summary

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Cryptocurrency enforcement continues to be a high priority for the U.S. Securities and Exchange Commission (SEC). In 2023, the SEC administration under Chair Gary Gensler brought a total of 46 cryptocurrency-related...more

Vinson & Elkins LLP

New CFTC Enforcement Policy Increases Penalties to Deter Recidivists

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The U.S. Commodity Futures Trading Commission (“CFTC” or “Commission”) — the federal agency tasked with regulating the U.S. derivatives markets, which includes futures, swaps and certain kinds of options — has recently taken...more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

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As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Insights: Enforcement and Litigation

Expert Allegations Could Become More Frequent in Securities Fraud Complaints and Possibly Erode Pleading Standards - A Ninth Circuit panel ruling that plaintiffs could use expert analysis to bolster securities fraud claims...more

K&L Gates LLP

FERC Issues 2023 Enforcement Report

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On 16 November 2023, the Federal Energy Regulatory Commission’s (FERC or Commission) Office of Enforcement (Enforcement) released its 2023 Annual Report on Enforcement (FY2023 Report). The FY2023 Report is the 8th annual...more

Seward & Kissel LLP

SEC Announces Robust Fiscal Year 2023 Enforcement Results

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Who may be interested: Registered Investment Companies; Directors of Registered Investment Companies; and Investment Advisers - Quick Take: The SEC’s Division of Enforcement (Enforcement) released a report summarizing its...more

Holland & Knight LLP

Twinkle-Twinkle Little SAR: SEC & FINRA Settle with Broker-Dealers and Registered Rep

Holland & Knight LLP on

In a series of settlements announced this year, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) penalized several broker-dealers for allegedly failing to file...more

White & Case LLP

SEC’s Focus on Off-Channel Communications Continues

White & Case LLP on

On September 29, the US Securities and Exchange Commission ("SEC") brought its latest wave of enforcement actions related to "off-channel communications," charging 10 additional firms with failing to maintain employee...more

Alston & Bird

SEC Enforcement Director Clarifies Compliance Violation and CCO Liability

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Our Investment Funds and White Collar Teams interpret how the Securities and Exchange Commission approaches its enforcement in three aspects: whistleblower restraints, self-reporting and cooperation, and compliance officer...more

WilmerHale

OFSI Encourages Self-Reporting of Sanctions Breaches

WilmerHale on

Companies faced with the decision of whether to voluntarily self-report sanctions breaches to law enforcement or sanctions enforcement agencies in the UK and the US can take some measure of comfort from recent comments made...more

McDermott Will & Emery

[Webinar] 2023 Enforcement Outlook Series | SEC Enforcement: Recent Trends and What to Expect - October 26th, 12:00 pm - 1:00 pm...

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As we enter the final quarter of 2023, the US Securities and Exchange Commission (SEC) continues to maintain an aggressive enforcement agenda. Looking ahead to 2024, companies should expect more of the same. In this webinar,...more

Vinson & Elkins LLP

To Self-Report or Not to Self-Report: With New M&A Safe Harbor Policy, DOJ Tries to Answer the Question

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It is one of the hardest questions a company can face: after discovering criminal conduct inside your company, do you self-report to the government or not? If you can quickly and quietly fix the problem, then you may be able...more

K&L Gates LLP

Recent Settlements Provide Insight on the SEC's Approach to Self-Reporting and Cooperation Credit in Enforcement Actions

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Introduction - A perennial message from the Securities and Exchange Commission (SEC) Division of Enforcement is to extol the benefits of cooperation with enforcement investigations. The link between cooperation and a...more

Sheppard Mullin Richter & Hampton LLP

DOJ Touts Emerging Results from New Corporate Crime Self-Reporting Initiatives

The Department of Justice’s recent criminal self-reporting policy changes are beginning to show results, according to Assistant Attorney General Kenneth Polite Jr. Speaking at the New York City Bar Association’s White Collar...more

Holland & Knight LLP

Executive Perks: A Hammer Finds Its Nail in SEC Settlement with Tool Company

Holland & Knight LLP on

We return once more to the issue of public company executive perquisites or "perks" – a topic we anticipated last year would "be a hot-button enforcement issue for the foreseeable future." We were not wrong. In light of the...more

Perkins Coie

Securities Enforcement Forum West 2023: SEC Stresses Cooperation, Self-Policing, and Self-Reporting

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Senior Division of Enforcement officials from the U.S. Securities and Exchange Commission (SEC) shared the stage on May 23, 2023, with SEC alumni, private practitioners, and other professionals in the field at Securities...more

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