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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInGary Gensler’s Bad Performance Review – WSJ
Businesses have been warning that Securities and Exchange Commission Chair Gary Gensler’s fast-and-furious regulation could cause damage across the economy. Now agency officials and Democratic Senators are raising alarms too. The SEC Office of Inspector General this month issued a withering review of Mr. Gensler’s leadership that would probably get a CEO of a public […]
Musk Says $50 Billion Tesla Pay Deal Is Justified by Electric-Car Maker’s Surge – Bloomberg
Tesla Inc.’s decision to give Chief Executive Officer Elon Musk a pay package that could be worth more than $50 billion wasn’t excessive given the electric-car maker’s stratospheric rise in value over the last decade, his lawyers said in a court filing. Musk, the world’s richest person, must face a Delaware judge at a trial […]
Accounting Errors to Cost Executives Their Bonuses Under SEC Rule – WSJ
Regulators will make public companies take back executives’ incentive pay if they find significant errors in financial statements, aiming to improve corporate accountability at a time of rising shareholder discontent over pay practices. The Securities and Exchange Commission voted 3-2 Wednesday to complete the so-called clawback rule, with all Democrats approving and Republicans dissenting. Required […]
Private Funds Remain a Top Priority for the SEC in 2022: A Review of Recent Cases and Their Implications for Private Fund Managers
Late last year, Securities and Exchange Commission (SEC) Chair Gary Gensler warned private fund managers that they should be prepared for increased regulatory scrutiny. Shortly thereafter, in February 2022, the SEC announced a historically sweeping set of rule proposals focused on the private fund industry. These proposals have coincided with a wave of enforcement actions […]
What Bloomberg’s Crypto Opus Means for the Next Bull Market
O.K., so this new crypto story is by the most important financial writer of the day, writing in probably the most important financial publication, at a length that indicates serious commitment. But what does the story actually say? Perhaps the most emblematic bit of the piece is an image caption early on which reads simply: […]
SEC Commissioner Peirce Continues To Object To Various Aspects Of Nearly Every FCPA Enforcement Action – FCPA Professor
All told, as an SEC Commissioner, Peirce has voted on 42 corporate FCPA enforcement actions. In 10 of the actions (approximately 25%) Peirce voted not to approve. In 25 of the actions (approximately 60%), Peirce objected to certain aspects of the enforcement action. In other words, Peirce has objected (in whole or in part) to […]