Daily Archives: May 1, 2023, 8:12 am

SEC ENFORCEMENT SWEEPS: IMPLICATIONS FOR AGENCY AND INDUSTRY

Those who practice before the SEC have seen a continued rise in its use of sweep investigations, and there is every indication that this practice will continue. In this Article, we will first discuss the differing purposes between sweeps initiated by the Division of Examinations as compared with the Division of Enforcement. Next, we will examine the SEC’s recent use…

Read More

Insider Trading Enforcement in 2022 | Jones Day

Each year, the Department of Justice (“DOJ”), the Securities and Exchange Commission (“SEC”), and in recent years, the Commodity Futures Trading Commission (“CFTC”) dedicate substantial resources to investigating and prosecuting illegal insider trading across U.S. securities and commodities markets. This past year, we have observed significant developments and emerging trends in the enforcement of insider trading laws and regulations. For…

Read More

Whistleblowers Who Exposed $1 Billion Fraud Denied SEC Windfall

Three whistleblowers who exposed a massive insurance fraud and helped secure a $1 billion bankruptcy court settlement aren’t entitled to any of that money, according to an SEC decision being challenged in two federal lawsuits. The whistleblowers worked with the Securities and Exchange Commission for years and provided information that “significantly contributed” to the successful sanctioning of a Texas viatical…

Read More

SEC Charges CEO and Subsidiary of Seattle-Based Company with Securities Fraud

The Securities and Exchange Commission today announced settled charges against Seattle-based company Coinme Inc., its subsidiary Up, Global SEZC, and the Chief Executive Officer of both entities, Neil Bergquist, for conducting unregistered offers and sales of securities in the form of a crypto asset called “UpToken,” and against Bergquist and Up Global for making false and misleading statements concerning the…

Read More