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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Names Jason J. Burt as Regional Director of the Denver Office
The Securities and Exchange Commission today announced that Jason J. Burt has been named Regional Director of the Denver Office, where he has served as Acting Co-Director since July. *** Prior to becoming Acting Co-Director of the Denver Office, Mr. Burt served as the Office’s Associate Regional Director, overseeing the region’s enforcement program beginning in […]
Crypto Is More Attractive as SEC Gets Aggressive, Investors Say
A crackdown by the US Securities and Exchange Commission and other watchdogs who have been investigating crypto’s naughtiest companies is proving to be a boon for the industry, with market participants saying they’re more likely to invest in the space following greater enforcement action. Almost 60% of the 564 respondents to the latest MLIV Pulse […]
SEC Charges Mattel with Financial Misstatements and Former PwC Audit Partner with Improper Professional Conduct
The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against Joshua Abrahams, a former audit partner at PricewaterhouseCoopers LLP, or PwC, to determine whether he engaged […]
OpenSea NFT Ex-Employee Must Face Insider Trading Charges – Bloomberg
But the judge rejected Chastain’s contention about the limits of the wire fraud law, because he isn’t accused of insider trading “in the classic sense of the term” and isn’t charged with securities fraud. Furman cited a Supreme Court case upholding the wire fraud conviction of a Wall Street Journal columnist who was found guilty […]
SEC Loses Bid for Review of Ruling on Constitutionality of ALJs
The US Court of Appeals for the Fifth Circuit on Friday declined to reconsider its ruling that the Securities and Exchange Commission’s administrative hearings are unconstitutional. Source: SEC Loses Bid for Review of Ruling on Constitutionality of ALJs
Where’s Ooki? CFTC’s Lawsuit Delivery Via Chatbox Raises Eyebrows
Judge William Orrick in the US District Court for the Northern District of California will hold a hearing next month to reconsider his decision to allow the Commodity Futures Trading Commission to serve Ooki DAO, a “decentralized autonomous organization,” and its members with notice of the lawsuit by posting a copy of the complaint in […]
Private Equity Scrambles to Comply With SEC Marketing Rule as Deadline Nears – WSJ
Private-equity firms are racing to adapt to new rules about marketing funds to prospective investors, anticipating a sweep by regulators to check compliance when the directive takes effect next month. The Securities and Exchange Commission’s marketing rule—430 pages of instructions intended to prevent investment advisers from misleading clients—is set to take effect Nov. 4, nearly […]