Daily Archives: November 2, 2022, 8:44 am

SEC’s Hester Peirce Says Agency’s Current Approach Is ‘Not a Good Way of Regulating’ – Decrypt

“Typically, when we write a rule, we go out with a proposal,” said Peirce. “People are talking to the regulator, we’re talking to the public. It’s a very healthy conversation.” There’s not much that’s healthy about how the SEC interacted with crypto companies thus far, according to the Commissioner: bringing them in one at a time—not to collaborate on policy,…

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Former Principal Deputy Assistant Attorney General Criminal Division Rejoins Latham

Latham & Watkins LLP1 is pleased to announce that Nicholas McQuaid has rejoined the firm’s Washington, D.C. and New York offices as a partner in the White Collar Defense & Investigations Practice and member of the Litigation & Trial Department. McQuaid most recently served as Principal Deputy Assistant Attorney General for the US Department of Justice’s Criminal Division. Prior to…

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The SEC’s Rules Are Getting Unreal – WSJ

The Securities and Exchange Commission’s job is to make markets work. But today’s SEC leadership—which as of August had proposed 26 new rules this year alone—is ignoring the real-world effects of its regulations on market participants. Its approach can be described as “regulation by hypothesis.” If not remedied, it will prove disastrous. Source: The SEC’s Rules Are Getting Unreal –…

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Republicans to probe Wall Street’s climate friendly investments – The Washington Post

Less than a week before the midterm elections, Republican lawmakers on Capitol Hill are already gearing up to investigate what they see as “woke capitalism,” a reference to Wall Street firms that treat climate change as an economic risk. Polls suggest the GOP will retake the House, and Republicans there are preparing to grill the chief executives of big financial…

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O’Melveny Welcomes Top Former New York Federal Prosecutor Rebecca Mermelstein

O’Melveny announced today that Rebecca Mermelstein, a former Assistant U.S. Attorney in the Southern District of New York and Co-Chief of the General Crimes Unit, has joined the firm’s New York office as a partner in its White Collar Defense & Corporate Investigations Practice. She will advise corporate and individual clients on complex white collar matters, including regulatory actions, internal…

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Corporate Executives Face Personal Liability Exposure for Cyber Incidents | The D&O Diary

In numerous prior posts I have examined efforts by plaintiffs’ attorneys to try to impose civil liability on corporate executives in D&O claims following cyber security incidents. Two recent cases show that, in addition to potential civil litigation liability exposure, corporate executives may also face potential regulatory liability and even criminal liability exposure for cyber security incidents at their company….…

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White House Convenes Summit for Stopping the Spread of Ransomware

The U.S. White House brought together 36 countries and the EU for its second International Counter Ransomware Initiative (CRI) summit to counter the global spread of ransomware. Among other initiatives, the CRI plans to establish an International Counter Ransomware Task Force (ICRTF), share technical information about ransomware with a wide range of stakeholders and provide an “investigator’s toolkit” to CRI…

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2022 NFT Litigation Roundup | Foley & Lardner LLP

The emergence of non-fungible tokens (NFTs) has spawned novel legal and regulatory considerations, spanning intellectual property rights, the potential classification of NFTs as securities, the recovery of assets held on decentralized platforms, and criminal considerations relating to fraud, money laundering, and insider trading. This roundup tracks ongoing civil and criminal actions involving NFTs and the various unique legal issues at…

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