Daily Archives: October 19, 2023, 8:16 am

Top US Cyber Agency Pushing Toward First Hack Reporting Rule

A new US notification requirement for victims of malicious hacks could push in-house counsel to disclose cyberattacks when faced with ransomware and other network compromises. Among the first-ever cyber regulations to be enforced by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, the top US cyber authority, the proposed rules would require companies in 16 critical infrastructure sectors—including…

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Elon Musk, Mark Cuban Back Supreme Court Challenge to SEC | National Law Journal

In a new amicus brief to the Supreme Court, Musk, Dallas Mavericks owner Mark Cuban and others who have wrestled with the securities regulator over the years have come to the aid of a hedge fund manager challenging SEC administrative proceedings in a case before the justices. “Each of the individual amici is a sophisticated businessperson and investor who has publicly litigated against…

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Private Companies and SEC Enforcement Actions | The D&O Diary

The reach and scope of the federal securities laws is a concern most obviously relevant to publicly traded companies. However, as I have emphasized previously, private companies are not immune from scrutiny under the federal securities laws. The SEC has in fact an extensive history of pursuing enforcement actions against private companies for alleged federal securities laws violations; one needs…

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US court upholds Nasdaq board diversity rule | Reuters

A U.S. appeals court upheld Nasdaq’s board diversity rule on Wednesday, requiring companies listed on the exchange to have women and minority directors on their boards or explain why they do not. In a lengthy opinion, the New Orleans-based 5th U.S. Circuit Court of Appeals rejected lawsuits seeking to block the rule by the National Center for Public Policy Research…

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New York Attorney General Sues Crypto Firms in $1 Billion Fraud Case – The New York Times

Continuing a crackdown on cryptocurrency companies, the New York attorney general accused three major players in the digital asset industry of lying to investors and concealing losses in a $1 billion fraud scheme, according to a lawsuit filed on Thursday. The suit targets Gemini Trust, the exchange run by the twin brothers Tyler and Cameron Winklevoss; the lender Genesis Capital;…

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