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Securities and Exchange Commission (SEC) Enforcement Authority

Society of Corporate Compliance and Ethics...

The SEC's Reach Beyond Publicly Traded Companies

Think you don’t have to worry about the SEC because you’re at a private company or a non-profit? Think again says, Kevin Muhlendorf, attorney at Wiley Rein. You may still end up in the Commission’s crosshairs. He warns that...more

Holland & Knight LLP

The Holidays: Time to Kickback and Relax?

Holland & Knight LLP on

The number of Foreign Corrupt Practices Act (FCPA)-related actions the SEC and U.S. Department of Justice (DOJ) reported in 2024 reflects that these cases remain a priority for both agencies. However, DOJ took the lead over...more

Cozen O'Connor

Republican AGs Sue SEC Claiming Cryptocurrency Regulatory Overreach

Cozen O'Connor on

A group of 18 Republican AGs, joined by a nonpartisan policy group, have filed a lawsuit contesting the SEC’s enforcement authority over digital assets, including cryptocurrency. In the complaint, the coalition alleges that...more

Carlton Fields

FINRA’s Sky Isn’t Falling (Just Yet)

Carlton Fields on

Is FINRA constitutional? Two cases currently playing out in D.C. federal courts, Alpine Securities Corp. v. FINRA and Kim v. FINRA, tee up that question. But the Financial Industry Regulatory Authority is an unusual target...more

Foley & Lardner LLP

Down But Not Out: Federal Court Curbs SEC Cybersecurity Enforcement Authority

Foley & Lardner LLP on

In a stinging rebuke of its attempted cybersecurity-related enforcement against a public company, a federal judge recently dismissed most of the charges that the U.S. Securities and Exchange Commission (SEC) had filed against...more

Holland & Knight LLP

Court in SolarWinds Case Blows Down SEC's Cyber Enforcement Authority

Holland & Knight LLP on

The U.S. District Court for the Southern District of New York on July 18, 2024, dismissed most of the SEC's landmark cyber enforcement litigation against SolarWinds Corp. (SolarWinds or the Company) and the Company's Chief...more

Goodwin

U.S. Supreme Court Significantly Curtails SEC Enforcement Forum Discretion

Goodwin on

On June 27, 2024, the United States Supreme Court issued a much-anticipated decision in Securities and Exchange Commission v. Jarkesy, holding that parties subject to an enforcement action brought by the U.S. Securities and...more

Patterson Belknap Webb & Tyler LLP

Supreme Court Decision in SEC v. Jarkesy Limits the SEC’s Ability to Seek Civil Penalties

On June 26, 2024, the Supreme Court issued a decision in SEC v. Jarkesy, holding that “[w]hen the SEC seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury...more

Fenwick & West LLP

Crypto Litigation & Enforcement: H1 2024  - Key Takeaways and Updates

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The beginning of this year brought several legal milestones in the world of crypto litigation and enforcement. In the first live installment of our quarterly update webinar, we discussed how...more

Seward & Kissel LLP

SCOTUS Holds that Defendants in SEC Enforcement Actions Seeking Civil Penalties are Entitled to Jury Trial

Seward & Kissel LLP on

The U.S. Supreme Court recently held in SEC v. Jarkesy that the Seventh Amendment gives defendants the right to a jury trial in federal court in SEC enforcement actions seeking civil penalties for violations of the antifraud...more

Mayer Brown Free Writings + Perspectives

Supreme Court Holds That SEC In-House Courts Cannot Adjudicate Enforcement Actions Seeking Civil Penalties For Securities Fraud...

SEC v. Jarkesy, No. 22-859 - Introduction: In a decision with significant, wide-ranging consequences for federal agency enforcement authority, the Supreme Court today held that the Seventh Amendment bars the Securities and...more

Benesch

Supreme Court Requires Jury in SEC Enforcement Proceedings

Benesch on

Case could signal broad jury rights for defendants in administrative enforcement actions. The Supreme Court struck a major blow to Securities and Exchange Commission enforcement proceedings Thursday, ruling that the...more

Dorsey & Whitney LLP

The Supreme Court Update - June 27, 2024

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The Supreme Court of the United States issued four decisions today: Moyle v. United States; Idaho v. United States, Nos. 23-726, 23-727: After granting certioriari to decide whether the Emergency Medical Treatment and...more

Miller Canfield

Redefining Insider Trading: The SEC's Groundbreaking Theory in the Panuwat Case

Miller Canfield on

In SEC v Panuwat, a federal jury in California will hear a novel insider trading theory that the court has allowed to proceed to trial. In Panuwat, the SEC says it is unlawful for an individual to purchase securities of a...more

BCLP

On Watch - Do regulators now expect firms to monitor communications using AI?

BCLP on

Artificial Intelligence (AI) is no longer just a buzzword, but a reality that is firmly on the radar of regulators and regulated firms in the US and UK. Recently, considerable investment into this area has prompted...more

BCLP

Stumbling Block? What is the Path Ahead for DeFi Through the Eyes of Policymakers?

BCLP on

DeFi development carried quietly on throughout 2023, but DeFi protocols also faced significant hurdles. In the US, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) increased their...more

WilmerHale

Year in Review: The Top 10 US Data Privacy Developments From 2023

WilmerHale on

2023 marked a pivotal moment in US data privacy and cybersecurity, characterized by substantial regulatory and legislative advances at the international, federal, and state levels. The Federal Trade Commission (FTC) took a...more

Holland & Knight LLP

Called to Account: SEC's Latest Internal Accounting Controls Action Reignites Debate

Holland & Knight LLP on

Several years ago, the U.S. Securities and Exchange Commission (SEC) issued an order against a public company that raised more than a few eyebrows. In that order, the company settled to violations of Section 13(b)(2)(B) of...more

Holland & Knight LLP

Federal and Florida Officials Discuss Enforcement Priorities, How Companies Can Minimize Risk

Holland & Knight LLP on

Holland & Knight, the Florida Chamber of Commerce, Greater Miami Chamber of Commerce and Miami-Dade Chamber of Commerce hosted the 2023 Florida Enforcement Summit on Oct. 18, 2023. The half-day program focused on current...more

Epstein Becker & Green

#WorkforceWednesday: SEC Cracks Down on Private Companies for Violating Whistleblower Protections - Employment Law This Week®

Epstein Becker & Green on

This week, we’re focusing on three recent Securities and Exchange Commission (SEC) charges against employers for violating whistleblower protection laws and how all employers should take extra steps to ensure compliance in...more

Bass, Berry & Sims PLC

The PCAOB Closes Comment Period on Controversial Proposal to Expand Auditor Responsibility for Legal Compliance

Bass, Berry & Sims PLC on

The Public Company Accounting Oversight Board (PCAOB) recently closed the comment period for its proposal (the Proposal) to significantly increase the responsibility of audit firms to evaluate and disclose a subject public...more

Patterson Belknap Webb & Tyler LLP

Supreme Court Decision in Axon Enterprise, Inc. v. FTC Has Wide Reaching Implications for Administrative Enforcement Proceedings

On April 14, 2023, the Supreme Court issued a consolidated opinion in Axon Enterprise, Inc. v. FTC and SEC v. Cochran.[1] We previously covered the oral argument in these cases here. These cases address whether respondents...more

Akin Gump Strauss Hauer & Feld LLP

SCOTUS Decision Sets Up Constitutional Challenges to FTC Administrative Proceedings

Key Points - In a unanimous decision, the Supreme Court held in Axon v. FTC that the FTC Act (and the SEC Act) do not prohibit a federal court from hearing challenges to the constitutionality of either Commission’s...more

Kramer Levin Naftalis & Frankel LLP

SCOTUS Unanimously Holds That Respondents in FTC and SEC Administrative Law Proceedings May Challenge the Constitutionality of...

On April 14, 2023, the Supreme Court issued a unanimous decision in two related cases, Axon Enterprise, Inc. v. FTC (No. 21-86) and SEC v. Cochran (No. 21-1239), holding that respondents may challenge the constitutionality of...more

Hogan Lovells

U.S. Supreme Court clears the way for constitutional challenges to FTC, SEC

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On April 14, 2023 the United States Supreme Court ruled in a unanimous opinion in Axon v. Federal Trade Commission that certain constitutional challenges to Federal Trade Commission (FTC) and Securities and Exchange...more

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