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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBaker McKenzie Adds Former Manhattan District Attorney Cyrus R. Vance Jr. as a Partner in New York | Baker McKenzie
Global law firm Baker McKenzie has added former Manhattan District Attorney Cyrus R. Vance Jr. as a Partner in New York. *** Cy will serve as Global Chair of Baker McKenzie’s Cybersecurity Practice. He will also be a member of the Firm’s North America Litigation & Government Enforcement Practice as well as the Firm’s Global […]
U.K. Approves Extradition of Tech Tycoon Mike Lynch to U.S. – Bloomberg
The U.K. government approved the extradition of Mike Lynch to the U.S. to face criminal fraud charges, hours after a London judge ruled the tech tycoon was dishonest in the $11 billion sale of his company. The extradition decision by Home Secretary Priti Patel Friday doesn’t mean that Lynch will be getting on a plane […]
Remediation Helps Tech Company Avoid Penalties
“For companies wondering what types of remedial actions and cooperation might be credited by the Commission after a company uncovers fraud, this case offers an excellent example,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “HeadSpin’s remediation and cooperation included not just its internal investigation and revised valuation, but also repaying harmed […]
SEC’s crypto crusade at risk in looming legal battles – POLITICO
Cryptocurrency payments firm Ripple, the de facto leader of the revolt, has started to rack up procedural court victories as it fends off the SEC in a case that could redefine how the agency polices digital assets. Grayscale Investments, which wants to launch a Bitcoin fund for the masses, tapped the white-shoe law firm Davis […]
Kristin Snyder, Deputy Director of Division of Examinations, to Leave SEC
The Securities and Exchange Commission today announced that Kristin Snyder, Deputy Director of the Division of Examinations (EXAMS), is leaving the agency at the end of this month after more than 18 years of service. Joy Thompson has been named Acting Deputy Director and Acting Associate Director of the Private Funds Unit, and Natasha Vij […]
Board Diversity Laws ‘Aren’t Optional,’ California AG Rob Bonta Warns – Bloomberg
The California Secretary of State posts reports on the status of compliance with the law. The state may impose fines, ranging from $100,000 to $300,000 per violation. So far, there have been few signs of enforcement. For those that don’t adhere to the law, “there are other steps that we can take.” The laws “aren’t […]
Takeaways from the SEC Division of Enforcement’s FY 2021 Report and Predictions for FY 2022 | Patterson Belknap Webb & Tyler LLP
The report revealed mixed numerical trends. Although the Division brought fewer total enforcement actions, it nevertheless collected a sizeable amount of money in penalties and generously rewarded whistleblowers. In FY 2021, the Commission filed 434 new enforcement actions of 697 total enforcement actions. New enforcement actions increased by 7% from FY 2020, but the total […]
SEC Has Taken 97 Crypto Enforcement Actions So Far — Crypto a Top Priority for Chairman Gensler – CFX Magazine
Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. According to the report, it analyzes SEC enforcement actions from July 2013 through December 2021. According to the report, 58 enforcement actions were cryptocurrency-related litigations and 39 were administrative proceedings. About half of all 58 cases were filed in New York. 31 […]
SEC Chief Wants Advisors, BDs to Improve ‘Cyber Hygiene’ | ThinkAdvisor
Securities and Exchange Commission Chairman Gary Gensler said Monday that he wants advisors and broker-dealers to improve their “cyber hygiene” as well as their data privacy disclosures. Investment companies, investment advisors and broker-dealers, which are not covered by the SEC’s Regulation Systems Compliance and Integrity, or Reg SCI, must “comply with various rules that may […]
Greenberg Traurig Continues Salt Lake City Expansion with Former SEC Regional Director Daniel Wadley
Global law firm Greenberg Traurig, LLP continues the strategic expansion of its Salt Lake City office with the addition of Daniel J. Wadley, who previously served as the U.S. Securities and Exchange Commission’s (SEC) Regional Director in Utah. Wadley will be a shareholder in the firm’s Securities Litigation and White Collar Defense & Special Investigations […]