News & Analysis as of

Financial Markets Fraud

Quinn Emanuel

UK Supreme Court allows appeals against LIBOR and EURIBOR trader manipulation convictions

Quinn Emanuel on

In a strident judgment that expresses “concerns about the effectiveness of the criminal appeal system in England and Wales in confronting legal error”, the UK Supreme Court has unanimously allowed appeals by Tom Hayes and...more

Husch Blackwell LLP

Precious Metals Fraud Case Invites Challenges to CFTC's Antifraud Authority

Husch Blackwell LLP on

On July 21, 2025, in Commodity Futures Trading Commission et al. v. TMTE Inc et al., a Texas district court denied summary judgment to both the Commodity Futures Trading Commission (CFTC) and two individual defendants in a...more

WilmerHale

Reversals of Fraud Charges Highlight Difficulties in Bringing Market Manipulation Cases

WilmerHale on

Establishing that criminal defendants engaged in market manipulation is extremely difficult, often due to the difficulty in establishing that the defendant created prices that did not reflect legitimate sources of supply or...more

Vinson & Elkins LLP

Small Gains Yield Big Pain: How a $2,400 Profit Triggered an SEC, FBI, and FINRA Cavalry

Vinson & Elkins LLP on

On July 11, 2025, the Securities and Exchange Commission (“SEC” or the “Commission”) announced that it had settled an enforcement action against two individuals who were alleged to have engaged in insider trading. The SEC’s...more

Bradley Arant Boult Cummings LLP

SEC Enforcement in the Second Quarter of 2025

In May 2025, we summarized the U.S. Securities and Exchange Commission’s (SEC) Division of Enforcement activity during the first quarter of the new presidential administration. With the second quarter now concluded, and Paul...more

Cadwalader, Wickersham & Taft LLP

The Fine Print, June 2025 - Are Payment Stablecoins Like Onions?

It is becoming increasingly likely that the “Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025’’ (the ‘‘GENIUS Act of 2025’’ or the “Act”) will become enacted and signed into law by the President...more

Cadwalader, Wickersham & Taft LLP

Are Payment Stablecoins Like Onions?

It is becoming increasingly likely that the “Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025’’ (the ‘‘GENIUS Act of 2025’’ or the “Act”) will become enacted and signed into law by the President...more

K&L Gates LLP

In First Major Speech as Acting CFTC Chairman, Pham Describes Policy Priorities

K&L Gates LLP on

In a fireside chat at the ABA Futures & Derivatives Law Committee Winter Meeting on January 30th, Acting Chairman Caroline Pham shared her industry-friendly agenda for the Commodity Futures Trading Commission (CFTC). She...more

Thomas Fox - Compliance Evangelist

The Bre-X Mining Scandal: Part 5 – A Guide for the 2024 Compliance Professional (Part 1)

As we close out this series on the Bre-X mining scandal, the lessons from this notorious case continue to resonate, especially for today’s compliance professionals. The fraud that led to the downfall of Bre-X and the ensuing...more

Thomas Fox - Compliance Evangelist

The Bre-X Mining Scandal, Part 4: The Bre-X Scandal: A Turning Point in Mining Compliance

The Bre-X mining scandal of the 1990s is one of history’s most infamous corporate fraud cases. Bre-X Minerals Ltd., a small Canadian company, falsely reported one of the largest gold deposits ever discovered in Indonesia,...more

Thomas Fox - Compliance Evangelist

The Bre-X Mining Scandal, Part 3: Why Was No One Prosecuted

In the annals of corporate fraud, few scandals match the magnitude of the Bre-X mining affair. For compliance professionals, the lessons from this incident resonate deeply, not just because of the scale of the deception but...more

Thomas Fox - Compliance Evangelist

The Bre-X Mining Scandal, Part 2: Why Was it So Sensational?

In the annals of corporate fraud, few scandals match the magnitude of the Bre-X mining affair. For compliance professionals, the lessons from this incident resonate deeply, not just because of the scale of the deception but...more

Thomas Fox - Compliance Evangelist

The Bre-X Mining Scandal, Part 1: A Scandal for the Ages

Few corporate scandals are still as infamous or devastating as the Bre-X mining scandal. What began as a story of incredible wealth, fueled by the promise of one of the largest gold deposits ever discovered, unraveled into...more

Mayer Brown Free Writings + Perspectives

SEC Investor Advocate Report on Objectives

The Securities and Exchange Commission’s Office of the Investor Advocate recently issued its fiscal year 2025 Report on Objectives. The Report is one of two annual reports required to be filed by the Investor Advocate with...more

Vinson & Elkins LLP

Out from the Shadows: The SEC Succeeds on Shadow Insider Trading Theory

Vinson & Elkins LLP on

The Securities and Exchange Commission obtained a victory in a closely-watched trial when a jury found Matthew Panuwat liable for insider trading based on a “shadow trading” theory. The jury’s verdict, as well as increased...more

Ankura

The Current Economic Climate - A Golden Age for Fraud?

Ankura on

This article is the first of a series on accounting fraud which follows our July and September webinars on “How to Commit Accounting Fraud: Why this can ultimately lead to corporate collapse.”...more

Foley & Lardner LLP

Artificial Intelligence, the SEC, and What the Future May Hold

Foley & Lardner LLP on

With the growing use of artificial intelligence (AI) in financial markets, broker-dealers and investment advisers need to pay attention to the risks posed by AI on firms’ compliance with federal securities laws. While machine...more

Morrison & Foerster LLP

Q&A: The Economic Crime and Corporate Transparency Act

Morrison & Foerster LLP on

Headlines- • The Economic Crime and Corporate Transparency Act (the “Act”) is part of a wide legislative package to prevent abuse of UK corporate structures and tackle economic crime and received Royal Assent on 26 October...more

Foodman CPAs & Advisors

La Revisión De Riesgos De La FDIC 2023 Agrega El Cripto

El 14/08/23 se publicó la Revisión de Riesgos de la FDIC 2023. El informe “FDIC Risk Review 2023” resume las condiciones de la economía, los mercados financieros y la industria bancaria de los EE. UU. El informe proporciona...more

Foodman CPAs & Advisors

FDIC Risk Review 2023 Adds Crypto

On 8/14/23, the FDIC Risk Review 2023 was published. The FDIC Risk Review 2023 report summarizes conditions in the U.S. economy, financial markets, and banking industry. The report provides a comprehensive summary of key...more

Jones Day

CFTC Lacks Jurisdiction Over TRS on ETFs and Custom Baskets

Jones Day on

In Short - The Situation: The civil action of the Commodity Futures Trading Commission ("CFTC") against Archegos Capital Management LP and its CFO is but one of many civil and criminal matters arising out of Archegos's...more

Sheppard Mullin Richter & Hampton LLP

Financial Crimes Makes Debut in FINRA Annual Priorities Preview

FINRA punctuated its annual post-New Year’s Report on FINRA’s Examination and Risk Monitoring Program (the “Report”), by including a new target category “Financial Crimes.” The inclusion of this category is noteworthy not...more

Bilzin Sumberg

Crypto Litigation Claims, Defenses Industry Should Watch

Bilzin Sumberg on

Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more

Foley Hoag LLP

Second Circuit’s Rejection of Fraud Theory in LIBOR Manipulation Case May Have Far-Reaching Implications

Foley Hoag LLP on

In a long-awaited decision on January 27, 2022, a unanimous panel of the U.S. Court of Appeals for the Second Circuit reversed the convictions of Deutsche Bank (DB) derivatives traders Matthew Connolly and Gavin Black in a...more

Robins Kaplan LLP

Jury Convicts Theranos Founder Elizabeth Holmes of Four Counts of Conspiracy and Fraud

Robins Kaplan LLP on

Back at it for ’22. Hope all had a good holiday season. After deadlocking on several claims on their 7th day of deliberations, jurors weighing the fate of former Theranos CEO Elizabeth Holmes ultimately found her guilty on 4...more

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