The Securities and Exchange Commission (“Commission”) is amending its regulations with respect to the delegations of authority to the Director of the Division of Enforcement (“Director”) to eliminate the delegation of authority to issue formal orders of investigation. Formal orders designate the enforcement staff authorized to issue subpoenas in connection with investigations under the Federal securities laws. This amendment is…
President Trump’s pause on enforcement of a key U.S. antibribery law has prompted concern in some quarters that the U.S.’s decadeslong effort to rein in corruption will be rolled back. But continued enforcement of similar antibribery laws in other jurisdictions and the reputational risks for those seen to be skirting the law should still motivate corporations to remain compliant, say…
A recurring theme at the recent PLUS D&O Symposium related to the risks associated with the rise of artificial intelligence (AI), risks that may among other things translate into D&O claims. Among other AI-related litigation concerns is the fear that companies seeking to catch some of the AI buzz will overstate their AI prospects. Last week, in the latest examples…
… In the SEC’s case against Kraken, for example, the agency told a federal court that “pooling of resale proceeds” by a developer is not “required under Howey.” The SEC’s new guidance confirms the opposite. It says that purchasers of memecoins make no investment in a common enterprise because their funds “are not pooled together to be deployed by promoters…