On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more
8/13/2024
/ Civil Monetary Penalty ,
Digital Assets ,
Disgorgement ,
Enforcement Actions ,
Final Judgment ,
Injunctions ,
Permanent Injunctions ,
Popular ,
Regulation D ,
Ripple ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Tokens ,
Securities Violations ,
Token Sales ,
Unregistered Securities
On July 18, Judge Paul Engelmayer of the Southern District of New York issued a lengthy order dismissing the majority of the SEC’s enforcement case against SolarWinds Corporation (SolarWinds) and its CISO, Timothy Brown. The...more
7/24/2024
/ Chief Information Security Officer (CISO) ,
Corporate Counsel ,
Corporate Governance ,
Cyber Attacks ,
Cybersecurity ,
Disclosure Requirements ,
Dismissals ,
Enforcement Actions ,
False Statements ,
Form 8-K ,
Fraud ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SolarWinds
In case it was not already clear, the U.S. Department of Justice recently confirmed that ensuring the use of cryptocurrency “is safe, and does not imperil our public safety or our national security, is vitally important to...more
10/21/2020
/ Attorney General ,
BSA/AML ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Enforcement Actions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
MSB ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
The Securities and Exchange Commission (SEC) announced on September 15, 2020, that it charged online esports gaming and gambling platform Unikrn with violations of Section 5 of the Securities Act of 1933 (Securities Act) for...more
9/24/2020
/ Cryptocurrency ,
Dissenting Opinions ,
Enforcement Actions ,
eSports ,
Howey ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Online Gaming ,
Online Platforms ,
Popular ,
SEC Commissioner ,
Securities and Exchange Commission (SEC) ,
Sports Gambling ,
Unregistered Securities
Like most of the rest of the world, the speakers and attendees at Securities Enforcement Forum West 2020 last week had to adapt this year by trading in their microphones on the stage of a grand ballroom for an array of home...more
5/20/2020
/ Accounting Fraud ,
Artificial Intelligence ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Cybersecurity ,
Disclosure ,
Enforcement Actions ,
Insider Trading ,
Machine Learning ,
Popular ,
Private Company Shares ,
Securities and Exchange Commission (SEC)
The death of Oracle CEO Mark Hurd in October has highlighted a longstanding public company dilemma: whether and when to disclose the news that a senior leader has a serious health challenge.
Not only is the topic sensitive...more
Over the past year, the U.S. Securities and Exchange Commission has ramped up its scrutiny of cryptocurrencies and other digital token offerings. On Sept. 11, 2018, the SEC escalated its crackdown when it announced a pair of...more
9/27/2018
/ Broker-Dealer ,
Civil Monetary Penalty ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Disgorgement ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Investment Companies ,
Material Misrepresentation ,
Online Platforms ,
Popular ,
Prejudgment Interest ,
Registration Statement ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Brokers ,
Unregistered Securities ,
Virtual Currency
The Securities Enforcement Forum West 2018 brought together current and former senior U.S. Securities and Exchange Commission and U.S. Department of Justice officials, securities enforcement and white-collar attorneys,...more
5/18/2018
/ Credit Karma ,
Cryptocurrency ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Due Process ,
Enforcement Actions ,
GAAP ,
Initial Coin Offering (ICOs) ,
Investors ,
Popular ,
Public Disclosure ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Silicon Valley ,
Theranos ,
Token Sales ,
Virtual Currency ,
Zenefits
The U.S. Securities and Exchange Commission announced on April 24, 2018, that Yahoo! — now known as Altaba — agreed to pay a $35 million penalty to settle claims that the company failed to timely disclose a 2014 data breach...more
5/4/2018
/ Cease and Desist ,
Class Action ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Enforcement Actions ,
Failure To Disclose ,
Hackers ,
Incident Response Plans ,
Penalties ,
Personally Identifiable Information ,
Popular ,
Public Disclosure ,
Russia ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Settlement Agreements ,
Stock Purchase Agreement ,
Yahoo!
Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more
1/4/2018
/ Capital Raising ,
Cryptocurrency ,
Cyber Crimes ,
Digital Currency ,
Enforcement Actions ,
Financial Crimes ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Investment ,
Offerings ,
Popular ,
Putative Class Actions ,
Regulatory Oversight ,
Scams ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
After a record-breaking fiscal year 2016, the Securities and Exchange Commission’s Enforcement Division had a somewhat quieter year, at least in terms of the number of actions filed. The Enforcement Division released its...more
11/27/2017
/ Administrative Proceedings ,
Annual Reports ,
Cryptocurrency ,
Cybersecurity ,
Disgorgement ,
Enforcement Actions ,
Filing Requirements ,
Financial Reporting ,
Individual Accountability ,
Initial Coin Offering (ICOs) ,
MCDC ,
Popular ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
Data breaches are a reality that all businesses need to take seriously. Knowing your vulnerabilities is only part of the solution. You and your key stakeholders should be prepared with an incident response plan that defines...more
A recent court decision holding that employees can claim the Fifth Amendment and refuse to unlock password-protected smartphones, even though the phones were issued by their employer for company business, demonstrates the...more
The Commodity Futures Trading Commission (“CFTC”) and the SEC are flexing their regulatory muscles to rein in securities and commodities rules violations by start-up companies in the virtual currency space. On September 17,...more