Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon. My understanding is that the delay in reaching an agreement is due to Ripple’s legal team negotiating more favorable terms regarding the August district court ruling, which imposed a $125M fine on the company and included a…
The SEC took far fewer, but higher value, enforcement actions against individuals and firms involved in financial reporting during the last year of the Biden administration than it had for the two years prior. The agency took 45 actions related to potential accounting and auditing misconduct in fiscal year 2024 that ended Sept. 30, representing a 46% decline from the…
The Trump administration’s push to drastically shrink the federal government shifts to a new gear Thursday, when agencies face a deadline to submit plans for large-scale layoffs and budget cuts. With them, the list of government job cuts that for weeks had been measured in the tens of thousands — and included retirements, deferred resignations, and selective firings — is…
In the face of the SEC’s enforcement retreat, individuals and firms should be prepared for private plaintiffs to exploit the enforcement void. Historically, the private plaintiffs’ bar has stepped in to pursue litigation in the wake of decreased regulatory enforcement (or at least the perception of it), whether it be suits alleging violation of the federal antitrust laws or financial…