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As part of its continuing effort to respond to potential attempts to exploit investors during the recent market volatility, the Securities and Exchange Commission today suspended trading in the securities of 15 companies because of questionable trading and social media activity. Source: SEC.gov | SEC Suspends Trading in Multiple Issuers Based on Social Media and […]
WilmerHale is pleased to announce that Stephanie Avakian, most recently Director of the Securities and Exchange Commission’s Division of Enforcement, is rejoining the firm as Chair of its Securities and Financial Services Department and member of the Management Committee. Stephanie will rejoin the firm later in the year and will have a wide-ranging public company […]
“The reason that the government has built its case on this teetering card house of irrelevant evidence is that it lost—or, worse, did not want to analyze preindictment—the actual evidence of testing results in this case,” Holmes’ attorneys argued. However, prosecutors allege that Theranos executives destroyed the LIS system that proved her blood-testing product was […]
Charles Michael, a partner at law firm Steptoe & Johnson LLC who represented the companies in the inquiry, said the settlement “resolves allegations about public disclosures” around Tether’s loan to Bitfinex. “To the Attorney General’s office’s credit, after two and a half years of investigation, [its] findings are limited only to the nature and timing […]
The Internal Revenue Service (IRS) is making it harder for taxpayers to conceal cryptocurrency transactions — whether intentionally or not — by adding a new question about it near the top of the new Form 1040. Source: IRS is ‘setting the trap’ for bitcoin and virtual currency investors on 2020 tax form
The Securities and Exchange Commission today announced an award of more than $9.2 million to a whistleblower who provided information that led to successful related actions by the U.S. Department of Justice, one of which was a non-prosecution agreement (NPA) or deferred prosecution agreement (DPA). The whistleblower previously received an award for contributions to an […]
One of the men behind Australia’s biggest insider trading case has broken his silence, detailing his role in a heist of almost $8 million involving secret accounts, betrayal and a police chase resembling a mafia sting. Christopher Hill, who worked at the Australian Bureau of Statistics at the time, and passed confidential information to NAB […]
This live broadcast will focus on the early history of the PCAOB and provide a first-hand understanding of the challenges and opportunities of being a new regulator (Panel I) and newly regulated (Panel II) in the environment of the just-passed Sarbanes-Oxley Act. Our confirmed guests include: Panel I – Founding PCAOB Board Members Kayla J. […]
Sullivan & Cromwell LLP announced today that Jay Clayton, Chairman of the U.S. Securities and Exchange Commission from May 2017 through December 2020, will be returning to the Firm, resident in the Firm’s New York office, as Senior Policy Advisor and of counsel. Mr. Clayton will also return to his role as an Adjunct Professor […]
In one of her first official actions as Acting Chair of the Securities and Exchange Commission (SEC or Commission), Allison Herren Lee reversed a major policy implemented by recently departed SEC Chairman Jay Clayton involving the SEC enforcement settlement process. This decision could significantly impact the SEC settlement process by causing uncertainty for settling entities […]