News & Analysis as of

Fraud Securities Regulation

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Herbert Smith Freehills Kramer

Ninth Circuit Addresses the Scope of Section 12(a)(2) Liability for Misleading Opinion Statements Under Omnicare

On June 10, 2025, the U.S. Court of Appeals for the Ninth Circuit Pino v. Cardone Capital, LLC reversed in part the dismissal of claims brought under the Securities Act of 1933 based on statements made in connection with two...more

Thomas Fox - Compliance Evangelist

Daily Compliance News: July 17, 2025, The COSO Yanked Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News....more

Stikeman Elliott LLP

CSA Release Three-Year Business Plan

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On June 26, 2025, the Canadian Securities Administrators (“CSA”) published their 2025-2028 business plan (the “Plan”), which sets out the priorities that the CSA have committed to pursuing over the next three years....more

NAVEX

Watch Out for Hoax Reports to Your Hotline

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We’ve recently been made aware of an increase in anonymous hoax emails and online reports posted to multiple companies through their internal reporting systems. The wording of these posts were identical and alleged violation...more

Holland & Knight LLP

SEC Enforcement Action Against Alleged Real Estate Fraudster Heats Up

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On May 22, 2025, the SEC brought a case of affinity fraud before the U.S. District Court for the Northern District of California against Bay Area real estate investor Kenneth Mattson alleging more than $46 million in...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for May 2025

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

Stikeman Elliott LLP

Go-To: Dealer Business Trigger for Serial LP Issuers Clarified by Ontario’s Capital Markets Tribunal

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Under Canadian securities law, the requirement to register as a dealer is triggered by trading securities for a business purpose. One of the uncertainties under the “business trigger” test and associated guidance is whether...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Paul Hastings LLP

SEC Concept Release on Foreign Private Issuer Eligibility: A Portent for the Foreign Private Issuer Regulatory Framework?

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On June 4, 2025, the SEC published a concept release in which the agency analyzes trends related to foreign private issuers (FPIs) and solicits extensive feedback regarding whether and how the definition of FPI should be...more

Latham & Watkins LLP

Recent Developments for UK PLCs June 2025

Latham & Watkins LLP on

On 3 June 2025, the Financial Reporting Council (FRC) published the UK Stewardship Code 2026. The new Code, effective from 1 January 2026, aims to foster long-term sustainable value creation and improve engagement quality...more

A&O Shearman

ESMA calls on platform providers to combat unauthorised financial promotions

A&O Shearman on

The European Securities and Markets Authority (ESMA) has issued written letters to several major social media and platform companies—including X, Meta, TikTok, Alphabet, Telegram, Snap, Amazon, Apple, Google and Reddit—urging...more

Porter Hedges LLP

SEC Shifts Focus to “Rooting Out” AI Abuse

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The Securities and Exchange Commission (SEC) has recently focused on “rooting out” the misuse of artificial intelligence (AI) by publicly traded companies and brokerage firms. On February 20, 2025, the SEC established the...more

A&O Shearman

IOSCO publishes final reports on finfluencers, online imitative trading practices and digital engagement practices

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The International Organization of Securities Commissions (IOSCO) has published final reports on finfluencers, online imitative trading practices and digital engagement practices, accompanied by a press release. These reports...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2025

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. For the month when Paul Atkins was sworn in as SEC Chairman, we examine: • The SEC’s...more

Ropes & Gray LLP

SEC Speaks 2025: Key Takeaways from Division of Enforcement Panels

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The SEC’s Division of Enforcement intends to remain a “cop on the beat,” and will refocus on traditional core enforcement areas, such as insider trading, accounting and disclosure fraud, market manipulation, and breaches of...more

DLA Piper

SEC Emphasizes Focus on “AI Washing” Despite Perceived Enforcement Slowdown

DLA Piper on

The US Securities and Exchange Commission (SEC) recently highlighted its continued focus on artificial-intelligence-related misconduct as a key enforcement priority. Speaking on a series of panels at the Securities...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - May 15, 2025

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On May 15, the SEC withdrew the joint statement previously issued by the Division of Trading and Markets and the Financial Industry Regulatory Authority, Inc. (FINRA) regarding broker-dealer custody of digital asset...more

Bradley Arant Boult Cummings LLP

SEC Enforcement in the First Quarter of the New Administration

The new presidential administration began on January 20, 2025, and change came quickly to many federal agencies, including the U.S. Securities and Exchange Commission (SEC). On Inauguration Day, Paul S. Atkins was nominated...more

Cooley LLP

Crypto Shake-Up: Narrowing Risks, From Securities Scrutiny to Consumer Claims

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Crypto is now in Washington’s good graces – or at least that’s how it may seem. The return of the Trump administration has injected new energy into the crypto asset space, with sweeping rhetoric about “unleashing innovation”...more

Secretariat

When the Whistle Blows

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The term “whistleblower” generally refers to a person who anonymously reports suspected corporate misconduct to their employer or to law enforcement or regulatory authorities. This article focuses primarily on current...more

ArentFox Schiff

Changes in DOJ Policy on Digital Assets Enforcement

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On April 7, the Deputy Attorney General (DAG) Todd Blanche issued a memorandum entitled “Ending Regulation By Prosecution,” detailing a significant shift in the US Department of Justice’s (DOJ) approach to digital assets....more

White & Case LLP

Evolution of AI Washing Enforcement: DOJ Enters the Picture

White & Case LLP on

On April 9, the US Department of Justice and Securities and Exchange Commission announced parallel cases against the founder and former CEO of an artificial intelligence startup for allegedly misleading investors about his...more

A&O Shearman

Global alert portal launched to help reduce retail investment fraud

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The International Organization of Securities Commissions (IOSCO) has announced the launch of a new alert portal, which is aimed at strengthening the global fight against retail investment fraud...more

Cooley LLP

SEC approval now needed for formal orders of investigation

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As discussed in this PubCo post, in February, Reuters reported that, under the new Administration, some SEC Enforcement staff have recently “been told that they will need to seek the Commission’s approval for all formal...more

Seyfarth Shaw LLP

SEC Staff Provides Much-Needed Clarity on Meme Coins, but Litigation and Regulatory Pitfalls Remain

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Two years ago, we wrote about a cautionary tale in which a New York federal court allowed a complaint alleging that a popular set of NFT basketball cards were “securities” to survive dismissal, rejecting the argument that,...more

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