News & Analysis as of September 19, 2024

Securities Exchange Act › Books & Records

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

Top 5 SEC Enforcement Developments for April 2024

Morrison & Foerster LLP on 5/21/2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Website & Social Media Archiving to Comply with FINRA Books & Records Rules

Pagefreezer on 4/2/2024

Investment firms and other financial institutions are subject to the strict recordkeeping and communication regulations laid out by both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange...more

SEC and CFTC Show No Signs of Slowing Down Enforcement Actions for Financial Firms’ Use of Off-Channel Communications

BakerHostetler on 8/11/2023

The settlements announced by the SEC and CFTC on Monday are a continuation of the regulators’ focus on off-channel communications by employees of registered entities....more

Regulators Crack Down on the Use of Messaging Apps as Wall Street Banks and Investment Advisers Hit With $1.8 Billion in Fines

Lowenstein Sandler LLP on 10/6/2022

On September 27, 2022, regulators from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) handed out over $1.8 billion in fines to financial institutions in connection with...more

Inside the Courts - June 2021

Skadden, Arps, Slate, Meagher & Flom LLP on 6/9/2021

Books and Records - Court of Chancery Orders Production of Emails, Denies Production of Privileged Communications in Books and Records Action - Emps.’ Ret. Sys. of R.I. v. Facebook, Inc., C.A. No. 2020-0085-JRS (Del. Ch....more

[Webinar] Anti-Corruption and Compliance Training - May 28th, 10:00 am - 11:30 am EDT

McDermott Will & Emery on 5/21/2020

Please join McDermott and Grant Thornton on Thursday, May 28, for a webinar training on anti-corruption and compliance. This training will discuss the auditing standards on illegal acts by clients and the auditor’s...more

Inside the Courts – An Update From Skadden Securities Litigators - April 2020

Skadden, Arps, Slate, Meagher & Flom LLP on 4/6/2020

This issue includes summaries and associated court opinions of selected cases principally decided between October 2019 and January 2020. ...more

Inside the Courts – An Update From Skadden Securities Litigators - September 2019

Skadden, Arps, Slate, Meagher & Flom LLP on 10/2/2019

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between May and August 2019....more

Second Circuit: Supreme Court’s McDonald Decision Does Not Delimit FCPA

Dorsey & Whitney LLP on 8/16/2019

The bribery provisions of Exchange Act Section 30A are one of the three critical components of the Foreign Corrupt Practices Act. The other two are the books and records and the internal control requirements....more

SEC and FINRA Staffs Jointly Address Broker-Dealer Custody of Digital Asset Securities

Dechert LLP on 8/12/2019

The Staffs of the Securities and Exchange Commission’s Division of Trading and Markets and the Financial Industry Regulatory Authority’s Office of General Counsel (jointly, Staffs) issued a Joint Statement on July 8, 2019...more

The Complete Guide to SEC Rule 17a-4 for Compliance Professionals

Hanzo on 1/31/2019

Looking for a great weekend read? You could turn to a classic novel, work your way through the list of articles you were too busy to read at work, or curl up with your favorite beverage and reread Securities Exchange...more

SEC Investigations: A Guide for Public Company Directors, Officers, and In-House Counsel

Latham & Watkins LLP on 5/2/2018

Even public companies with a strong code of conduct, an exemplary tone at the top, robust internal controls, and a culture of compliance may face allegations of misconduct that can lead to an investigation by the Division of...more

Understanding the Regulatory Concerns of Cryptocurrency Exchange Registration

Holland & Knight LLP on 4/30/2018

• Coinbase, one of the largest cryptocurrency exchanges, recently approached the U.S. Securities and Exchange Commission (SEC) about possible licensing as a broker-dealer. If Coinbase decides to register with the SEC, it will...more

Inside the Courts – An Update From Skadden Securities Litigators - March 2018/ Volume 10 / Issue 1

Skadden, Arps, Slate, Meagher & Flom LLP on 3/27/2018

This quarter's issue includes summaries and associated court opinions of selected cases principally decided between November 2017 and January 2018. The cases address developing trends in appraisal, class certification, core...more

Rethinking Independence in Internal Investigations

Farella Braun + Martel LLP on 11/10/2017

For a company under actual or potential government scrutiny, an independent internal investigation performed by outside counsel, sometimes coupled with cooperation with the government, can mean the difference between...more

SEC Files Financial Fraud and Unregistered Securities Actions

Dorsey & Whitney LLP on 2/24/2016

The Commission filed two administrative proceedings this week. One centers on false entries made in the books and records of a broker dealer. It will be set for hearing. In the Matter of Jason Maiher, Adm. Proc. File No....more

FCPA: Anti-Bribery Provisions

Carlton Fields on 6/8/2015

The Foreign Corrupt Practices Act (FCPA) addresses the problem of international corruption in two ways: (1) the anti-bribery provisions prohibit individuals and businesses from bribing foreign government officials in order to...more

SEC Files Financial Fraud Action Against Japan Based Controller

Dorsey & Whitney LLP on 4/16/2015

The Commission filed a financial fraud action against a former senior accounting officer and controller of Molex Japan Co., Ltd., the Japanese based subsidiary of publically traded Molex Inc. The scheme, which took place in...more

Internal Accounting Controls – The Framework for Enforcement (Part II of IV)

The Volkov Law Group on 3/31/2015

When you review the actual law surrounding books and records and internal controls, you wonder to yourself what took the Justice Department and the SEC so long to discover the full power of the provisions....more

Inside The Courts - November 2014 | Volume 6 | Issue 4

Skadden, Arps, Slate, Meagher & Flom LLP on 11/19/2014

In This Issue: CLASS CERTIFICATION: Fort Worth Emps. Ret. Fund v. J.P. Morgan Chase & Co., No. 09-cv-3701 (JPO) (S.D.N.Y. Sept. 30, 2014) Discovery: ..Freedman v. Weatherford Int’l Ltd., No. 12...more

Eighth Circuit Applies Negligence Standard to SEC Enforcement Claims for Violations of Section 14(a) and Rules 14a-9, 13b2-1 and...

Sheppard Mullin Richter & Hampton LLP on 8/27/2013

In SEC v. Das, No. 12-2780, 2013 U.S. App. LEXIS 15327 (8th Cir. July 29, 2013), the United States Court of Appeals for the Eighth Circuit affirmed the district court’s delivery of jury instructions applying a negligence...more

SEC Staff Seeking Hard Drives, Etc. (but without authority)

Brooks Pierce on 2/12/2013

Last month brought us this story from Reuters, in which we learned that the SEC “has become more aggressive in seeking full hard drives from the companies and individuals it investigates, startling defense lawyers who...more

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Securities Exchange Act › Books & Records

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