‘Enforcement 40′ for 2017
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House Panel OKs Approps Bill Hiking SEC Enforcement Funding
A funding boost for SEC enforcement, compliance inspections, and other agency programs cleared a major hurdle in the House June 11. The House Appropriations Committee approved legislation that would give the Securities and Exchange Commission about $1.9 billion, approximately $200 million more than it requested for fiscal 2020 and received in fiscal 2019. The panel […]
The Largest SEC Whistleblower Award in History: One Year Later | New York Law Journal
It’s been just over a year since the Securities and Exchange Commission awarded three whistleblowers a whopping $83 million for tipping the Commission to misconduct at Merrill Lynch. Jordan Thomas, who represented all three whistleblowers, sheds light on the historic whistleblower award, his thoughts on the SEC whistleblower program generally, and what he predicts down […]
Bigger M&A deals mean more insurance claims, AIG finds | Financial Times
M&A insurance, also known as warranty and indemnity cover, has been a booming market over the past few years, as buyers and sellers seek protection against the chance that problems arise after the deal closes. The main causes of claims on this type of insurance are problems with financial statements, tax, and compliance with laws. […]
Chubb Sounds Securities Litigation Alarm, Calls for Reform | The D&O Diary
In the face of these alarming trends, the report advocates a number of reforms. First and foremost, the report advocates Congressional enactment of legislation overturning Cyan. Companies, the study notes, “should not have to incur the risk and costs of defending themselves in two or more different courts simultaneously.” Congress, the report suggests, should adopt […]
Former U.S. Department of Justice Associate Deputy AG Returns to King & Spalding
King & Spalding today announced that Matt Baughman, former Associate Deputy Attorney General at the U.S. Department of Justice (DOJ), has returned as a partner in the firm’s Special Matters and Government Investigations team in the Atlanta office. via Former U.S. Department of Justice Associate Deputy AG Returns to King & Spalding.
A Swift Kik Or A Slow Roll? Crypto Lawyers Address Tough Questions About SEC V. Kik Interactive Inc.
After reading the Kik Complaint, I reached out to a few of my friends in the U.S. crypto space, including two experienced litigators (Kayvan Sadeghi, a securities litigation partner at Schiff Hardin LLP, and Jake Chervinsky, general counsel of Compound Finance) and three seasoned transactional lawyers (Jay Baris, a partner at Shearman & Sterling LLP, […]
A New Era of Extraterritorial SEC Enforcement Actions
SEC v. Scoville expands the scope of the SEC’s enforcement authority beyond the limitations imposed by Morrison, returning to the so-called “conduct-and-effects” test to determine extraterritoriality. This departure creates uncertainty about the scope of the SEC’s enforcement authority and additional risk for foreign entities and individuals. via A New Era of Extraterritorial SEC Enforcement Actions.
SEC an opportunity new regional director couldn’t pass up – HoustonChronicle.com
The U.S. Securities and Exchange Commission has named David Peavler, general counsel of the Irving financial services frim HD Vest Financial, to lead the agency’s Texas office. via SEC an opportunity new regional director couldn’t pass up – HoustonChronicle.com.
Former Federal Prosecutors Eric Beste and Chuck La Bella Join Barnes Thornburg in San Diego | News Release | Barnes & Thornburg
Eric J. Beste and Charles “Chuck” G. La Bella, both former federal prosecutors and veteran trial lawyers, have joined Barnes & Thornburg’s San Diego office as members of the firm’s Litigation Department and White Collar and Investigations practice. via Former Federal Prosecutors Eric Beste and Chuck La Bella Join Barnes Thornburg in San Diego | […]
SIFMA Statement on the SEC’s Final Regulation Best Interest Rule
“As written, the SEC’s Regulation Best Interest rule will impose a materially heightened standard of conduct for broker-dealers when serving retail clients. While principles-based, the rule is specific with respect to the duty and obligations brokers owe to their clients, and what steps they must take to comply, including the obligation to eliminate, or disclose […]