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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSix Charged in Silicon Valley Insider Trading Ring
According to the SEC’s complaint, Nathaniel Brown, who served as the revenue recognition manager for Infinera Corporation, repeatedly tipped Infinera’s unannounced quarterly earnings and financial performance to his best friend, Benjamin Wylam, from April 2016 until Brown left the company in November 2017. The SEC’s complaint alleges that Wylam, a high school teacher and bookmaker, […]
SEC Chairman: Time to “Freshen Up” Rules Governing 10b5-1 Plans – Lexology
Chairman Gensler’s comments indicate that new, additional requirements for 10b5-1 plans are likely to be coming. In prepared comments made at The Wall Street Journal’s CFO Network event on June 7, 2021, SEC Chairman Gary Gensler explained that he has asked the SEC Staff to make recommendations on how to “freshen up” Rule 10b5-1 under […]
SEC Charges Issuer With Cybersecurity Disclosure Controls Failures
According to the SEC’s order, on the morning of May 24, 2019, a cybersecurity journalist notified First American of a vulnerability with its application for sharing document images that exposed over 800 million images dating back to 2003, including images containing sensitive personal data such as social security numbers and financial information. In response, according […]
SEC Considers Changes to Trump-Era Rules – WSJ
Among the regulations that the SEC plans to revisit are amendments to its whistleblower award program and a rule requiring oil, gas and mining companies to disclose payments made to foreign governments. Both rules were passed late last year over opposition by the agency’s Democrats. The decision to revisit the rules is part of the […]