News & Analysis as of

Securities Violations

Cadwalader, Wickersham & Taft LLP

No Harm, No Remedy? Supreme Court Poised to Resolve Circuit Split on SEC Disgorgement Authority for Securities Violations

On January 9, 2026, the Supreme Court granted certiorari in Sripetch v. SEC to resolve whether the Securities and Exchange Commission (SEC) may seek disgorgement—an equitable remedy requiring wrongdoers to return “ill-gotten...more

Morgan Lewis

Securities Enforcement Roundup – January 2026

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from January 2026. ...more

Marshall Dennehey

FINRA Fines and Suspends Former Financial Advisor for Naming His Wife and Children as Beneficiaries on a Client’s Account

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A former financial advisor was suspended for eight months and fined $5,000 after he allegedly violated FINRA Rule 2010. FINRA Rule 2010 provides that “a member, in the conduct of its business, shall observe high standards of...more

Haynes Boone

SEC Enforcement Highlights Fiscal Year 2025

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Shifts in SEC enforcement are typical with new presidential administrations, particularly with a change in the political party. But never have those shifts been as dramatic as those we witnessed in fiscal year 2025. Through...more

A&O Shearman

Out of sight, not out of scope: UK FCA fines and bans individual for insider dealing

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The UK FCA has fined a capital markets adviser to an energy company £100,281 – and banned him from working in financial services – for insider dealing. The action illustrates the comparatively low threshold for what may...more

A&O Shearman

Central District Of California Grants In Part And Denies In Part Motion To Dismiss Proposed Securities Class Action Against...

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On December 12, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California granted in part and denied in part a motion to dismiss a proposed investor class action against a...more

A&O Shearman

Central District Of California Dismisses Putative Securities Class Action Against Multinational “Fast-Casual” Restaurant Chain

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On December 18, 2025, Judge Sherilyn Peace Garnett of the United States District Court for the Central District of California dismissed a putative securities class action against a multinational “fast-casual” restaurant chain...more

Holland & Knight LLP

CERTainly Getting Interesting: Supreme Court Again to Address SEC's Power to Obtain Disgorgement

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The U.S. Supreme Court on January 9, 2025, granted certiorari in Ongkaruck Sripetch v. U.S. Securities and Exchange Commission, a case from the U.S. Court of Appeals for the Ninth Circuit that tees up a circuit split on the...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure: Fiscal 2025 Year-End Update

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Financial reporting and disclosure enforcement is a perennial priority for the U.S. Securities and Exchange Commission (“SEC”), but the change in presidential administrations in January 2025 ushered in a potentially new...more

Foley & Lardner LLP

It’s a Wonderful Hypo: What if the Bailey Bros. Building & Loan Was a SEC Registered Investment Adviser?

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In the 1946 film “It’s a Wonderful Life,” George Bailey is despondent after a series of mishaps — including his family member and colleague, Uncle Billy, misplacing $8,000 that Uncle Billy had intended to deposit in Mr....more

Epstein Becker & Green

Good Faith, Bad Timing: Musk, Privilege, and the Price of the Advice-of-Counsel Defense

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To plead securities fraud, a plaintiff must allege that the defendant made a false statement or omitted a material fact, did so with scienter, and that the plaintiff relied on that misrepresentation and suffered injury....more

Cornerstone Research

SEC Enforcement Activity: Public Companies and Subsidiaries

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Since 2016, Cornerstone Research and the NYU Pollack Center for Law & Business have collaborated on the Securities Enforcement Empirical Database (SEED) to publish annual publications analyzing trends in SEC enforcement...more

Katten Muchin Rosenman LLP

FINRA Case Involving Gifts and Entertainment

On October 21, the Financial Industry Regulatory Authority (FINRA) filed a settled enforcement action involving allegedly improper gifts and entertainment in connection with sales of mutual fund shares. The $10 million fine...more

Cornerstone Research

SEC Enforcement Actions Against Public Companies and Subsidiaries Drop by 30% in FY 2025

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93% of FY 2025 actions were filed before the SEC administration change. The U.S. Securities and Exchange Commission (SEC) brought 30% fewer enforcement actions against public companies and subsidiaries in FY 2025 than in FY...more

Gallagher

Securities Class Action Litigation: A Game of Inches

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About half of securities class actions are thrown out by the courts at the motion to dismiss stage, thus avoiding costly discovery and a potential settlement....more

Gallagher

The End of Private Securities Litigation? The SEC’s New Arbitration Policy and D&O Insurance Impacts

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On September 17, 2025, the US Securities and Exchange Commission (SEC) issued a policy statement with potentially far-reaching consequences for corporate governance, securities litigation, and directors and officers (D&O)...more

Troutman Pepper Locke

SEC Announces Return to Simultaneous Consideration of Settlement Offers and Related Waiver Requests

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On September 26, Securities and Exchange Commission (SEC) Chair Paul S. Atkins announced a return to the SEC’s prior practice of allowing individuals and entities facing enforcement actions to request that the SEC...more

Vinson & Elkins LLP

[Webinar] Government Enforcement Roundup - October 9th, 12:00 pm - 1:00 pm CT

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Participants will hear our panelists discuss the current federal government enforcement landscape in key areas including antitrust, environmental, energy and securities enforcement. Our panel will address current trends and...more

Eversheds Sutherland (US) LLP

Lying, Cheating and Stealing: The SEC Knows It When It Sees It

Securities and Exchange Commission (SEC) Chair Paul Atkins recently received a lot of press after he said in an interview with the Financial Times that the SEC’s Enforcement Division would be less aggressive than under the...more

Morgan Lewis

Securities Enforcement Roundup – August 2025

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from August 2025. ...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for July 2025

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 following matters: • An SEC complaint alleging a Georgia...more

Vedder

SEC Settles Charges Against Fund Advisers and Portfolio Managers for Alleged Misrepresentations of Risk and Breaches of Fiduciary...

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On June 30, 2025, the SEC announced it had obtained final judgments in federal district court in a lawsuit brought against two affiliated investment advisers and their two portfolio managers for breaches of fiduciary duty and...more

Vedder

SEC Agrees to Dismiss First Liquidity Rule Enforcement Action

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On July 11, 2025, the SEC announced the filing of a joint stipulation in the U.S. District Court for the Northern District of New York, agreeing to dismiss, with prejudice, its first-ever enforcement action under Rule 22e-4...more

Cornerstone Research

New Developments in Securities Class Action Litigation in the First Half of 2025

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Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse highlight several developments from recent litigation in their latest report, Securities Class Action Filings—2025 Midyear Assessment....more

Wiley Rein LLP

[Podcast] Deceiving Your Way to the American Dream: The George Santos Story

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In this jaw-dropping episode of Wicked Coin, hosts Diana Shaw and Tatiana Sainati are joined by their Wiley colleague Rob Walker – former Chief Counsel to both the House and Senate Ethics Committees – for an unflinching look...more

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