‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInOssoff Is Right About Stock Trading Ban for U.S. Lawmakers – Bloomberg
Thanks to ethics legislation that Senator Jon Ossoff is considering, Congress will have to focus more purposefully on one of Washington’s most persistent and egregious financial conflicts: stock trading. The Georgia Democrat will seek to ban trading in individual stocks by federal legislators and family members; he is reportedly looking for a Republican co-sponsor before he […]
Federal Judges Would Face Tougher Stock-Trading Rules Under Bipartisan Bill – WSJ
Federal judges would be required to report stock trades over $1,000 within 45 days and post their financial-disclosure forms online under legislation proposed by a bipartisan group of lawmakers in the Senate and House of Representatives. The two bills were drafted by both Democrats and Republicans in response to a Wall Street Journal investigation finding […]
Fed Imposes New Restrictions on Officials’ Investment Activities – WSJ
Federal Reserve Chairman Jerome Powell imposed sweeping personal-investing restrictions on senior officials in a bid to address a stock-trading controversy that prompted the resignation of two reserve bank presidents and hurt his prospects of being reappointed to lead the central bank next year. The Fed on Thursday said the new rules will restrict senior officials’ […]
FinCEN Announces New Acting Director | FinCEN.gov
Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced he will depart FinCEN at the end of the week for a new opportunity, after serving as the organization’s acting director. Himamauli “Him” Das, a national security expert with experience at the White House, National Security Council, National Economic Council, and Departments of State […]
Infrastructure Deal Puts Cryptocurrencies in Washington’s Cross Hairs – The New York Times
By strengthening tax enforcement on such digital assets, the federal government could raise $28 billion over a decade, according to an estimate by the Joint Committee on Taxation, which analyzed the plan. While that would be just a small fraction of the $550 billion that lawmakers have proposed in new federal spending on infrastructure, it […]
Blog: Bill to study and amend Rule 10b5-1 introduced in Senate | Cooley LLP – JDSupra
Last week, in a bipartisan move, Senators Chris Van Hollen and Deb Fischer reintroduced the “Promoting Transparent Standards for Corporate Insiders Act.” According to the press release, the legislation is designed to address concerns that some insiders “may be abusing loopholes in this system, which hurts everyday investors and reduces confidence in the integrity of […]
Corruption, Cybercrime Top List of U.S. Anti-Money-Laundering Concerns – WSJ
The U.S. Treasury Department on Wednesday issued a wide-ranging set of national anti-money-laundering priorities, naming corruption and cybercrime among the areas where financial institutions should focus their compliance resources. The list is the first created by the Treasury’s Financial Crimes Enforcement Network, or FinCEN, following a major overhaul of U.S. anti-money-laundering laws in January. Legislation […]
When Will The CFTC Get New Leadership?
Given the CFTC’s importance, it’s puzzling that President Biden has yet to nominate a chair. After he was sworn in Jan. 21, there were news reports that the two Democratic CFTC commissioners, Rostin Behnam and Dan Berkovitz, and Georgetown University law professor Chris Brummer were being considered for the top spot. But there has been […]
Bitcoin Backers Losing Hope in Washington Amid Ransom, Volatility – Bloomberg
Just a few months ago, crypto enthusiasts were hopeful that Washington was warming to digital assets. But cyberattacks demanding Bitcoin ransoms, wild trading and rebukes from regulators have eroded their optimism. The timing couldn’t be worse. Policy makers are poised to make a number of critical rulings on virtual tokens in the coming months — […]
How the FBI Got Colonial Pipeline’s Ransom Money Back – WSJ
After Colonial Pipeline Co. on May 8 paid roughly $4.4 million in cryptocurrency to hackers holding its computer systems hostage, the Federal Bureau of Investigation followed the digital money. Over the next 19 days, court records show, a special agent watched on a publicly visible bitcoin ledger as hackers transferred the 75 bitcoins to other […]