Last week, TZP Management Associates, LLC (TZP), a New York-based private equity investment adviser, agreed to pay more than $680,000 in monetary relief to settle charges brought by the Securities and Exchange Commission...more
8/22/2025
/ Breach of Duty ,
Civil Monetary Penalty ,
Conflicts of Interest ,
Disclosure Requirements ,
Enforcement Actions ,
Fiduciary Duty ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Funds ,
Management Fees ,
Partnership Agreements ,
Private Equity ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions
A recent article by Bloomberg Law highlighted a significant shift in the Securities and Exchange Commission’s (SEC) approach to whistleblower claims. The article, “Whistleblower Awards Slow to Trickle as SEC Raises Bar on...more
7/29/2025
/ Dodd-Frank ,
Enforcement Actions ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Regulatory Agencies ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers
On June 23, the U.S. Department of Justice announced that Terren Scott Peizer, founder of Ontrak Inc., a Miami-based publicly traded health care company, has been sentenced to three and one half years in prison by a...more
6/30/2025
/ 10b5-1 Plans ,
Appeals ,
Corporate Crimes ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Insider Trading ,
Penalties ,
Securities Fraud ,
Securities Regulation ,
Securities Transactions
On Feb. 20, the U.S. Securities and Exchange Commission announced the creation of the Cyber and Emerging Technologies Unit, which will replace the Enforcement Division’s previous Crypto Assets and Cyber Unit.
Originally...more
6/23/2025
/ Cryptocurrency ,
Cybersecurity ,
Disclosure Requirements ,
Emerging Technologies ,
Enforcement Actions ,
Financial Institutions ,
FinTech ,
Guidance Update ,
Investment ,
Regulatory Oversight ,
Regulatory Reform ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On June 9, Deputy Attorney General Todd Blanche released a much-anticipated update to the Trump administration’s plans for enforcement of the Foreign Corrupt Practices Act (FCPA)....more
6/17/2025
/ Anti-Corruption ,
Bribery ,
Corporate Governance ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Enforcement Priorities ,
Foreign Corrupt Practices Act (FCPA) ,
National Security ,
Trump Administration ,
Voluntary Disclosure ,
White Collar Crimes
Investing in the cannabis industry is not without its risks, given the evolving regulatory landscape and the varying state and federal statuses of the product itself. The Financial Crimes Enforcement Network (FinCEN) has...more
6/12/2025
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Cannabis Products ,
Cole Memorandum ,
Due Diligence ,
Enforcement Actions ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investment Opportunities ,
Marijuana ,
Marijuana Related Businesses ,
Money Laundering ,
Reporting Requirements ,
Securities Regulation ,
Suspicious Activity Reports (SARs)
On June 6, the U.S. Supreme Court denied the petition for certiorari in the case of Navellier & Associates, Inc. v. Securities and Exchange Commission (SEC). This decision effectively upholds the lower courts’ rulings,...more
6/12/2025
/ Appeals ,
Denial of Certiorari ,
Disgorgement ,
Enforcement Actions ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Materiality ,
Petition for Writ of Certiorari ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation
On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more
4/17/2025
/ Appeals ,
Broker-Dealer ,
Conflicts of Interest ,
Disclosure Requirements ,
Enforcement Actions ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Materiality ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Summary Judgment ,
Transaction Fees
The U.S. Securities and Exchange Commission (SEC) has reportedly announced internally a major reorganization of its enforcement and exams divisions. This restructuring, effective April 9, 2025, was detailed in a staff memo...more
4/8/2025
/ Cryptocurrency ,
Enforcement Actions ,
Enforcement Guidance ,
Enforcement Priorities ,
Financial Regulatory Reform ,
Financial Services Industry ,
Government Agencies ,
Regulatory Agencies ,
Regulatory Oversight ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In this episode of Crypto Exchange, Ethan Ostroff and Alexandra Barrage are joined by partners Joanna Cline and Jay Dubow to discuss the evolving landscape of the SEC's enforcement actions involving cryptocurrencies.
The...more
In a stated effort to provide greater clarity on the application of federal securities laws to “crypto assets,” the Securities and Exchange Commission’s (SEC) Division of Corporation Finance has released its views on “meme...more
According to news sources, including Reuters, on Friday, February 21, the U.S. Securities and Exchange Commission (SEC) reportedly informed regional directors at its 10 regional offices that it plans to eliminate their roles...more
On Jan. 21, 2025, Mark T. Uyeda, the acting chairman of the U.S. Securities and Exchange Commission (SEC), announced the launch of a cryptocurrency task force. This task force, led by SEC Commissioner Hester Peirce, with...more
On November 22, the Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year (FY) 2024. As compared to FY 2023, the Division of Enforcement (the division) reported a 26% decline in the total...more
If you have not recently reviewed your company’s documents to ensure they comply with Securities and Exchange Commission (SEC) whistleblower protection rules, you should put it at the top of your to-do list. On September 9,...more
On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more
The Financial Industry Regulation Authority’s (FINRA) Enforcement Division recently announced a resolution to a nearly two-and-a-half-year investigation in which TradeZero America, Inc. (TradeZero) agreed to pay a fine of...more
On June 11, the Securities and Exchange Commission (SEC) announced the first settled case in its ongoing review of collaborations between investment advisors and short publishers. The SEC fined affiliated investment advisors...more
The Financial Industry Regulatory Authority’s (FINRA) Enforcement Division recently announced its first settlement involving a firm’s supervision of social media influencers. The respondent, M1 Finance LLC (M1), is a...more
On February 9, the Securities and Exchange Commission (SEC) announced settlements with 16 firms relating to record-keeping violations stemming from off-channel communications totaling $81 million. The 16 firms were five...more
2/15/2024
/ Broker-Dealer ,
Electronic Communications ,
Enforcement Actions ,
Instant Messaging Apps ,
Investment Adviser ,
Recordkeeping Requirements ,
Regular Business Communications ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Violations ,
Text Messages
Despite a 50% increase in whistleblower tips over fiscal year (FY) 2022, the number of whistleblowers who received awards from the Securities and Exchange Commission (SEC) decreased significantly in FY 2023. This trend...more
On November 14, the Securities and Exchange Commission (SEC) published its enforcement results for fiscal year 2023, which concluded on September 30. These results provide insight into the SEC's priorities and enforcement...more
On October 19, the Securities and Exchange Commission (SEC) dismissed its claims against Ripple Labs, Inc. (Ripple) executives Bradley Garlinghouse and Christian Larsen for allegedly aiding and abetting Ripple’s violations of...more
10/23/2023
/ Cryptoassets ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Enforcement Actions ,
Interlocutory Appeals ,
Popular ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Summary Judgment ,
Trading Platforms
On September 8, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges against Monolith Resources LLC, a privately held technology and energy company headquartered in Nebraska. The SEC’s...more
On August 9, the Securities and Exchange Commission (SEC) sent a letter to U.S. District Judge Analisa Torres requesting leave to file an interlocutory appeal in SEC v. Ripple Labs, Inc. as to the two adverse liability...more
8/17/2023
/ Appellate Courts ,
Cryptoassets ,
Digital Currency ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
Howey ,
Interlocutory Appeals ,
Leave to Appeal ,
Ripple ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Token Sales ,
Trading Platforms