Daily Archives: November 22, 2019, 9:35 am

Number of New SEC Enforcement Actions against Public Companies Rose 30% in FY 2019 | Cornerstone Research

The number of new U.S. Securities and Exchange Commission enforcement actions against public companies and subsidiaries in fiscal year 2019 rose more than 30% over the previous fiscal year, driven by self-reporting under the SEC’s Share Class Selection Disclosure Initiative (Share Class Initiative), according to a report released today by the NYU Pollack Center for Law & Business and Cornerstone…

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Veteran Prosecutor, Criminal Division Chief Suneeta Hazra Joins Arnold & Porter in Denver | News | Arnold & Porter

Arnold & Porter announced today that Suneeta Hazra has joined the firm’s White Collar Defense and Complex Litigation practices as a partner. She will be resident in the firm’s Denver office. Ms. Hazra spent nearly 20 years at the United States Attorney’s Office in Colorado, most recently serving as Chief of the Criminal Division…. via Veteran Prosecutor, Criminal Division Chief…

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On law firm applicants, Arkansas Public Employees Retirement System picks all 18

In a voice vote with no audible dissenters, six trustees voted to approve Trustee Jason Brady’s motion for the system to contract with all the firms that submitted their qualifications in April. Trustees Andrea Lea and Dale Douthit abstained from the vote; Trustee Daryl Bassett was absent. In August, Trustee David Hudson made a motion for the system to contract…

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The SEC Clears the Path for Investors as Potential Whistleblowers: Greater Scrutiny May Be on the Horizon During Regulatory Examinations

For the first time, the SEC recently applied Rule 21F-17 of the Securities Exchange Act of 1934 (“Exchange Act”) outside the context of the traditional employer/employee relationship. Rule 21F-17 is a whistleblower protection that prohibits interference with an individual’s ability to communicate with the SEC about potential securities violations. Since Rule 21F-17’s adoption in August 2011, the SEC has enforced…

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Supreme Court to Decide Whether the SEC Has the Authority to Seek Disgorgement in Enforcement Proceedings | Publications and Presentations | Arnold & Porter

On November 1, 2019, the Supreme Court granted certiorari in Liu v. Securities and Exchange Commission (18-1501). Liu seeks review of the US Securities and Exchange Commission’s (SEC) authority to pursue disgorgement as a form of equitable relief for federal securities law violations in district court proceedings, an issue cast into doubt by the Supreme Court’s 2017 opinion in Kokesh…

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