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Appellate Courts › Securities and Exchange Commission (SEC) › Broker-Dealer

Holland & Knight LLP

SEC Feels the Heat

Holland & Knight LLP on

Earlier this year, the U.S. Court of Appeals for the First Circuit vacated and remanded a $93 million district court judgment entered against a broker-dealer and investment adviser for allegedly inadequate disclosures of...more

Wiley Rein LLP

$140 million SEC Disgorgement Payment Not a “Penalty” and Insurable Under New York Law

Wiley Rein LLP on

The New York Court of Appeals has held that a $140 million disgorgement payment in an SEC settlement is not a non-covered “penalty” under a professional liability policy. According to the court, the payment had compensatory...more

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