Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine the following matters:
• An SEC complaint alleging a Georgia...more
8/25/2025
/ Blockchain ,
Corporate Counsel ,
Digital Assets ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Insider Trading ,
Investment Adviser ,
Investors ,
Ponzi Scheme ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations ,
Voluntary Dismissals
On July 30, 2025, the White House released a 166-page report titled “Strengthening American Leadership in Digital Financial Technology” (the “Report”).[1] Authored by a working group of cabinet members and federal agency...more
8/7/2025
/ AML/CFT ,
Banking Sector ,
Biden Administration ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Cybersecurity ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Financial Regulatory Reform ,
FinTech ,
IRS ,
Multi-Factor Authentication ,
NIST ,
Popular ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stablecoins ,
U.S. Treasury
On May 14, 2025, Deputy Enforcement Director Antonia Apps told those gathered at an anti‑money laundering conference in Washington, D.C. to expect a more measured approach from SEC Enforcement. That may include, she...more
6/25/2025
/ Anti-Money Laundering ,
Broker-Dealer ,
Corporate Counsel ,
Cryptocurrency ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Fraud ,
International Chamber of Commerce (ICC) ,
Investment Adviser ,
Investment Management ,
Penalties ,
Popular ,
Real Estate Development ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Settlement
On April 4, 2025, the staff of the U.S. Securities and Exchange Commission (SEC or “Commission”) Division of Corporation Finance (“Staff”) issued a statement on stablecoins (the “Stablecoin Statement”), outlining the Staff’s...more
4/9/2025
/ Cryptoassets ,
Digital Assets ,
Enforcement Actions ,
Financial Markets ,
Howey ,
Investment Contract ,
Popular ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine:
•Accounting fraud charges for allegedly concealing costs;...more
11/29/2024
/ Accounting Fraud ,
Aerospace ,
Artificial Intelligence ,
Bribery ,
Civil Monetary Penalty ,
Cryptocurrency ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
ETFs ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Greenwashing ,
Misleading Statements ,
Popular ,
Securities and Exchange Commission (SEC) ,
Unregistered Brokers
On October 21, 2024, the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations (“EXAMS”) announced its 2025 Examination Priorities (the “2025 Priorities”), highlighting areas that it expects to target...more
11/4/2024
/ Artificial Intelligence ,
Compliance ,
Cryptocurrency ,
Cybersecurity ,
Investment Adviser ,
Popular ,
Private Funds ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Regulation S-P ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine:
•The SEC’s case against crypto firm Kraken is permitted to...more
9/25/2024
/ Collateralized Loan Obligations ,
Corporate Counsel ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Digital Assets ,
Instant Messaging Apps ,
Investment Adviser ,
Investment Contract ,
MNPI ,
Popular ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities
On March 6, 2024, two years after the issuance of a proposing release and following more than 24,000 comment letters and 4,500 unique letters submitted in response, by a vote of 3-2, the U.S. Securities and Exchange...more
3/14/2024
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Form 10-K ,
Greenhouse Gas Emissions ,
Popular ,
Publicly-Traded Companies ,
Regulation S-X ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Task Force on Climate-related Financial Disclosures (TCFD)
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month we examine:
• Fraud and internal control failure charges against...more
11/20/2023
/ Aiding and Abetting ,
Anti-Money Laundering ,
Best Practices ,
Blockchain ,
Chief Information Security Officer (CISO) ,
Cyber Attacks ,
Cybersecurity ,
Data Collection ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Fraud ,
Good Faith ,
Information Security ,
Interlocutory Appeals ,
Popular ,
Reporting Requirements ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Short Sales ,
SolarWinds
Earlier this week, the SEC accused SolarWinds Corporation (“SolarWinds” or the “Company”) and its Chief Information Security Officer (“CISO”) of committing scienter-based securities fraud, among other violations, for...more
11/6/2023
/ Chief Information Security Officer (CISO) ,
Cyber Incident Reporting ,
Cybersecurity ,
Enforcement ,
False Statements ,
Form 8-K ,
Internal Controls ,
NIST ,
Popular ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
SolarWinds
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more
8/15/2023
/ Anti-Money Laundering ,
Broker-Dealer ,
Corporate Counsel ,
Cryptoassets ,
Cyber Attacks ,
Cybersecurity ,
Disclosure Requirements ,
Enforcement Actions ,
Failure-to-File ,
Form 8-K ,
Investment ,
Investment Adviser ,
Investors ,
Popular ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Special Purpose Acquisition Companies (SPACs) ,
Suspicious Activity Reports (SARs)
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources...more
4/21/2023
/ Accounting Fraud ,
Brazil ,
CEOs ,
Corporate Counsel ,
Cryptocurrency ,
Cyber Incident Reporting ,
Cybersecurity ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Failure To Disclose ,
Fraud ,
Misleading Statements ,
Perks ,
Popular ,
Ransomware ,
Safety Standards ,
Securities and Exchange Commission (SEC) ,
U.S. Navy ,
Unregistered Securities
In a setback to the SEC’s and other federal agencies’ use of administrative law judges (“ALJs”) to conduct in-house enforcement proceedings, the U.S. Supreme Court recently issued a unanimous decision in Axon Enterprise, Inc....more
4/20/2023
/ Administrative Law Judge (ALJ) ,
Article III ,
Constitutional Challenges ,
Corporate Counsel ,
Federal Jurisdiction ,
Federal Trade Commission (FTC) ,
FTC Act ,
Popular ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
Last month, the SEC took a big step toward strengthening the cybersecurity of financial systems by proposing regulations that, taken together, will require registered investments advisers, broker‑dealers, and all national...more
4/14/2023
/ Broker-Dealer ,
Cyber Incident Reporting ,
Cybersecurity ,
Financial Services Industry ,
Investment Adviser ,
Policies and Procedures ,
Popular ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important U.S. Securities and Exchange Commission (SEC) enforcement developments from the past month,...more
8/8/2022
/ Chief Compliance Officers ,
Chief Information Security Officer (CISO) ,
Compliance ,
Corporate Counsel ,
Cryptocurrency ,
Financial Institutions ,
Identity Theft ,
Insider Trading ,
Investment Adviser ,
Investment Schemes ,
Popular ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC)
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources....more
6/7/2022
/ Administrative Law Judge (ALJ) ,
Corporate Counsel ,
Cryptoassets ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Investigations ,
Investment Adviser ,
NVIDIA ,
Popular ,
SCOTUS ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Task Force on Climate-related Financial Disclosures (TCFD)
On the eve of the pandemic’s two-year anniversary, the U.S. Department of Justice (DOJ) released updated statistics on its efforts to combat COVID-19 related fraud and announced the appointment of a director of COVID-19 Fraud...more
3/16/2022
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Economic Injury Disaster Loans ,
Enforcement ,
False Claims Act (FCA) ,
FinTech ,
Fraud ,
Healthcare ,
Investigations ,
Paycheck Protection Program (PPP) ,
Popular ,
Price Gouging ,
SBA ,
Securities and Exchange Commission (SEC) ,
Whistleblowers
In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This has...more
Morrison & Foerster’s Automotive Task Force represents automotive industry clients in their most significant legal matters.
We have tapped our multidisciplinary Automotive Task Force to get their opinions on what is likely...more
2/23/2022
/ Anti-Bribery ,
Antitrust Division ,
Automotive Industry ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Initial Public Offering (IPO) ,
International Trade Commission (ITC) ,
Popular ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs)
On February 17, 2022, Deputy Attorney General (DAG) Lisa Monaco announced a significant step in advancing its cryptocurrency-related enforcement priorities by naming the first leader of the National Cryptocurrency Enforcement...more
The Securities and Exchange Commission (“SEC”) brought three enforcement actions concerning digital assets in rapid succession in a week, underlining that the Division of Enforcement is as committed to crypto enforcement...more
Pending before the Second Circuit is a unique (and apparently sua sponte) application of the jurisdictional test announced by the Supreme Court in Morrison v. Nat’l Australia Bank Ltd., to dismiss non-securities state law...more
6/7/2021
/ Breach of Contract ,
Cryptocurrency ,
Extraterritoriality Rules ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Morrison v National Australia Bank ,
Popular ,
Pump and Dump ,
Securities Act of 1933 ,
Securities Exchange Act ,
United Arab Emirates (UAE)