Daily Archives: July 15, 2022, 2:52 pm

The Gap In SEC Individual FCPA Enforcement Actions Is Approaching Two Years – FCPA Professor

For many years, SEC enforcement officials have talked about the importance of individual FCPA enforcement actions and set forth below are representative quotes from over the years. *** The last individual FCPA enforcement action by the SEC occurred on October 14, 2020 (a gap that is approaching two years) – see here. This nearly two year gap is the most significant…

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SEC Awards Whistleblowers More Than $6 Million

In the first order, the SEC issued an award of more than $3 million to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual expeditiously alerted the SEC to the potential misconduct, which prompted the opening of the investigation, and continued to cooperate with the SEC’s Enforcement staff. In the second…

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Gensler: SEC could tailor disclosures for crypto firms

“I’ve said to the industry, to the lending platforms, to the trading platforms, come in, talk to us. We do have robust authorities from Congress, also, to use our exemptive authority so that we can tailor investor protection,” Gensler said during a Yahoo Finance interview on Thursday. “Even tailoring what the disclosures might be, because maybe not all of the…

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Finra bars would-be brokers for cheating on online qualification exams

Finra barred two individuals from the financial industry for cheating on online qualification exams, the first enforcement actions the regulator has taken in relation to remote examinations. The Financial Industry Regulatory Authority Inc. announced Wednesday that it imposed bars on Brandon Autiero, formerly associated with Equitable Advisors, and Harris Kausar, formerly associated with Barclays Capital Inc. In separate incidents, Autiero…

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A Watchdog Report Absolves Financial Transactions by 2 Fed Officials – The New York Times

A review from the Federal Reserve’s watchdog found that trades made by two top officials in 2019 and 2020, when the central bank was especially active in financial markets, violated neither the law nor central bank policies. The Office of Inspector General report, released Thursday, cleared both Chair Jerome H. Powell and Richard Clarida, the former vice chair. Both had…

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Ropes & Gray opens LA office. | ICLG

The global firm’s new office is its third in California and 12th worldwide, and has a litigation and enforcement team at its core. Ropes & Gray has named the three-strong team who will lead the litigation and enforcement practice at its new office which opened in Century City, Los Angeles, on Monday 11 July. Source: Ropes & Gray opens LA…

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S.E.C. Broadens Inquiry Into Elon Musk’s Disclosures About Twitter – The New York Times

The Securities and Exchange Commission has broadened its inquiry into whether Elon Musk properly disclosed his investment in Twitter and his intentions for the social media company, the agency revealed on Thursday in a filing. The agency raised questions about a tweet from Mr. Musk in May in which the billionaire claimed his $44 billion acquisition of Twitter “cannot move…

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