News & Analysis as of

Securities and Exchange Commission (SEC) Securities Exchange Act of 1934 Settlement

ArentFox Schiff

SEC Cracks Down on Unregistered Broker-Dealers

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StraightPath Venture Partners, LLC and PMAC Consulting have recently reached settlements with the US Securities and Exchange Commission (SEC) following SEC enforcement actions against them....more

Stinson - Corporate & Securities Law Blog

SEC Announces Settlement with Express, Inc. for Failure to Disclose CEO Perks

On December 17, 2024, the Securities and Exchange Commission (“SEC”) announced that it had settled charges against Ohio-based Express, Inc. (“Express”). The SEC ultimately found that Express violated Sections 13(a) and 14(a)...more

Freiberger Haber LLP

Enforcement News: Broker-Dealers Settle Charges for Filing Deficient SARs

Freiberger Haber LLP on

The Bank Secrecy Act (“BSA”) and implementing regulations promulgated by the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) require that broker-dealers file a suspicious activity report (SAR”) with...more

A&O Shearman

The SEC Files Settled Complaint Against A Public Company Director For Allegedly Hiding Close Friendship With Company Executive To...

A&O Shearman on

On September 30, 2024, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against a former director of a public company (the “Company”) over claims that the director had failed to disclose his...more

Seward & Kissel LLP

T+1 Settlement Cycle: Implications for Investment Advisers

Seward & Kissel LLP on

Starting May 28, 2024, the settlement cycle for most transactions in U.S. securities will shorten from T+2 to T+1 as a result of rule amendments adopted by the Securities and Exchange Commission (SEC).1 The SEC also adopted a...more

DarrowEverett LLP

Actions vs. J.P. Morgan, Monolith Serve as SEC Compliance Check Reminders

DarrowEverett LLP on

The Securities and Exchange Commission (SEC) recently settled charges against J.P. Morgan Securities LLC (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law...more

Seward & Kissel LLP

SEC Settles Charges Against Firm for Alleged Whistleblower Protection Rule Violations

Seward & Kissel LLP on

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

Akin Gump Strauss Hauer & Feld LLP

The Latest Settlements in the SEC’s 'Off-Channel' Communications Sweep: What This Means and What’s Next

Key Points - Last week, the SEC announced settlements with 10 broker-dealers and affiliated investment advisers in connection with their failures to maintain and preserve electronic “off-channel” communications....more

Seward & Kissel LLP

SEC Settles Charges With Transfer Agent for Lost Securityholders

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Who may be interested: Registered Investment Companies, Boards of Directors, Transfer Agents. Quick Take: The SEC recently settled charges with a registered transfer agent for failing to take reasonable steps to find...more

Pillsbury Winthrop Shaw Pittman LLP

SEC’s Heightened Scrutiny of Rule 10b5-1 Plans and Final Rulemaking Focus Is on Insiders Rather than Issuers

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

Patterson Belknap Webb & Tyler LLP

Notable SEC Decisions: 2022 H1

Each year, the U.S. Securities and Exchange Commission (SEC) publishes its enforcement priorities – a reminder that, although the Division of Examinations (EXAMS) remains committed to monitoring compliance with (and...more

Goodwin

Northern District of California Dismisses Traders’ Suit Against Bitmex Crypto Exchange with Prejudice

Goodwin on

Northern District of California Dismisses Traders’ Suit Against Bitmex Crypto Exchange with Prejudice; Delaware Supreme Court Upholds Chancery Court Ruling That Stockholder Appraisal Rights Can Be Waived by Contract;...more

Goodwin

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action

Goodwin on

SEC Settles First-Of-Its-Kind $13m DeFi Tech Action; NASDAQ Board Diversity Rules Challenged in Fifth Circuit; Delaware Court of Chancery Declines to Enforce Contractual Limitations on Liability to Bar Contractual Fraud...more

ArentFox Schiff

SCOTUS: Accessing Private Database for Improper Purpose Not Violation of Computer Fraud and Abuse Act.

ArentFox Schiff on

SCOTUS: Accessing Private Database for Improper Purpose Not Violation of Computer Fraud and Abuse Act. In a recent Supreme Court case, Van Buren v. United States, the Court narrowed the applicability of the Computer Fraud...more

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