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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInJudge orders Elon Musk to put ‘reasonableness pants’ on, settle SEC claims
“Tesla still appears unwilling to exercise any meaningful control over its CEO,” SEC lawyer Cheryl Crumpton told the judge Thursday. “He is regularly tweeting about communications that could be material and blowing past the approval process.” But judge declined to spank Musk — choosing instead to order the Tesla CEO and the SEC to work […]
Q&A: Fenwick’s Michael Dicke Dishes on New SEC Guidance on Digital Tokens | The Recorder
When is a digital token a security? It has the ring of modern haiku, but it’s a serious question to securities lawyers operating on the cutting edge of the crypto-world. We caught up with Fenwick & West partner Michael Dicke, the former enforcement chief of the San Francisco regional Securities and Exchange Commission office, to […]
Lowenstein Sandler Boosts Fast-Growing Practices With Addition of Rachel Maimin From SDNY U.S. Attorney’s Office and H. Gregory Baker From SEC Enforcement Division | Lowenstein Sandler LLP
Lowenstein Sandler announced today that Rachel Maimin, a former Assistant U.S. Attorney in the Southern District of New York, and H. Gregory Baker, a former Senior Counsel in the U.S. Securities & Exchange Commission’s Division of Enforcement Asset Management Unit, have joined the firm as partners in its New York office. via Lowenstein Sandler Boosts […]
Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”
As part of a continuing effort to assist those seeking to comply with the U.S. federal securities laws, FinHub is publishing a framework for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security. The framework is not intended to be an exhaustive overview of the law, but […]
Andreessen Horowitz says it will no longer be a venture capital firm
Andreessen Horowitz will soon cease to be a venture capital firm, veering away from the majority of its Sand Hill Road neighbors in Silicon Valley to instead become a registered investment advisor, or RIA. via Andreessen Horowitz says it will no longer be a venture capital firm.
Trump to nominate Allison Herren Lee as SEC commissioner | Financial Times
Donald Trump will nominate Allison Herren Lee to fill the open Democratic position at the Securities and Exchange Commission, the White House said on Tuesday. The nomination will bring the SEC back up to five commissioners after the departure of Kara Stein at the beginning of the year. via Trump to nominate Allison Herren Lee […]
SEC Awards Total Of $50 Million To Two Whistleblowers In A Single Action, While Denying Five Other Claimants | Shearman & Sterling LLP – JDSupra
On March 26, 2019, the SEC announced two multi-million dollar awards to whistleblowers who made reports of misconduct that led to a successful enforcement action after denying claims of five other whistleblowers in the same case (only two appealed the preliminary determination denying their application). SEC Press Release, SEC Awards $50 Million to Two Whistleblowers, No. […]
Yale Alum, 21, Accused of Running Hedge Fund Scam by SEC – Bloomberg
This is one college side hustle a recent Yale grad might be regretting. Omar Zaki, 21, ran a hedge fund while enrolled at the Ivy League university, saying his firm relied on an algorithm that had produced eye-popping returns over a 10-year period, according to the Securities and Exchange Commission. The misrepresentation is one of […]
New Job Opening: The SEC Is in Search for a “Crypto Specialist” | AllStocks Network
According to the job portal USAJobs, which is an official US government jobs portal, the SEC is looking for a specialist in the field of crypto to take on a diverse set of responsibilities. The SEC’s Division of Trading and Markets plans to hire the new legal expert in order to help develop a “comprehensive […]
SEC.gov | The Securities and Exchange Commission and the UK Financial Conduct Authority Sign Updated Supervisory Cooperation Arrangements
The Securities and Exchange Commission and the United Kingdom (UK) Financial Conduct Authority (FCA) have today reaffirmed their commitment to continue close cooperation and information sharing in the event of the UK’s withdrawal from the European Union (EU). via SEC.gov | The Securities and Exchange Commission and the UK Financial Conduct Authority Sign Updated Supervisory […]