News & Analysis as of

Insider Trading Disclosure Requirements Enforcement Actions

BCLP

Proceed at Your Own Risk: Steps to Protect Confidential Information and Public Disclosures

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Public companies regularly face challenges in protecting confidential information relating to material announcements of corporate developments as well as financial results and other events. For example, recently, the U.S....more

McDermott Will & Schulte

New SEC Leadership Signals Continued Focus on FDA-Related Disclosures

Lawyers inside and outside the US Securities and Exchange Commission (SEC) have speculated that the agency’s new leadership will take a “lighter touch” when it comes to enforcement. The ultimate approach of the new SEC...more

Foley Hoag LLP - White Collar Law &...

SEC Expected to Shift Priorities and Adopt a More Business-Friendly Approach in 2025

This is the fourth in our 2025 Year in Preview series examining important trends in white collar law and investigations in the coming year. We will be posting further installments in the series throughout the next several...more

Foley & Lardner LLP

SEC Actions in Review: What Officers and Directors Should Know for 2025

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As the regulatory landscape continues to evolve, public company officers and directors must stay abreast of the enforcement priorities and expectations of the Securities and Exchange Commission (SEC). Over the past year, the...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •Insider trading charges against a professor overseeing...more

Cooley LLP

Public Companies Update – December 2024 One-Minute Reads

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SEC’s Office of the Whistleblower annual report - On November 15, 2024, the Securities and Exchange Commission’s Office of the Whistleblower released its annual report to Congress. The Whistleblower Program report includes...more

Foley Hoag LLP - White Collar Law &...

A Preview of SEC, CFTC, AML, Sanctions and CFIUS Enforcement Priorities Under the Second Trump Administration

As the incoming Trump administration prepares to take office, businesses and investors can expect significant shifts in the enforcement priorities of the Securities and Exchange Commission (SEC) and the Commodity Futures...more

Foley Hoag LLP - White Collar Law &...

SEC to Continue Aggressive Enforcement Efforts in 2024 After Record-Setting 2023

This is the fourth in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year. We will be posting further installments in the series throughout the next several...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - December 2024

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Holland & Knight LLP

SEC Enforcement Continues SPAC Crackdown as Founder Trading Profits Generate Scrutiny

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Despite the frothy market for special purpose acquisition companies (SPACs) in 2021, companies considering such a transaction have been met recently with significant market headwinds, a short supply of suitable targets, the...more

BakerHostetler

DOJ Brings First-Ever Indictment for Insider Trading Based on Use of a Rule 10b5-1 Plan

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On Wednesday, March 1 the Department of Justice (DOJ) announced its first-ever prosecution of an individual for insider trading based on an executive’s use of 10b5-1 trading plans. Terren Peizer, the executive chairman of...more

Foley Hoag LLP - Public Companies & the Law

The SEC Continues its Efforts to Improve Option Grant Practices

The SEC’s recent Rule 10b5-1 rulemaking has drawn attention to its efforts to crack down on illegal trading by corporate insiders. (See our related post here.)  But less attention has been paid to part of the rulemaking that...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: December 1, 2022

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Cooley LLP

SEC charges executives with insider trading— purported 10b5-1 plan provided no defense

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It may look like just another run-of-the-mill insider trading case, but there’s one difference in this settled SEC Enforcement action: according to the SEC, it involved sales under a purported 10b5-1 trading plan while in...more

Perkins Coie

Securities Enforcement Forum West 2022: SEC Affirms Aggressive Approach

Perkins Coie on

On May 12, 2022, senior Division of Enforcement officials from the U.S. Securities and Exchange Commission (SEC) shared the stage with SEC alumni, private practitioners, and other professionals in the field at the Securities...more

Cooley LLP

Blog: Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days

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Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we...more

Pillsbury Winthrop Shaw Pittman LLP

The Beginning of the SPAC Enforcement Wave: SEC Makes Example of SPAC for Spacing out on Diligence

Chair Gensler’s enforcement agenda begins to take shape as SEC brings sprawling enforcement action against wide range of SPAC participants. Consistent with prior SEC warnings regarding incentives for Special Purpose...more

Herbert Smith Freehills Kramer

The SEC’s Continued Focus on Cybersecurity Enforcement

On June 14, the Securities and Exchange Commission (SEC) announced a $490,000 settlement with the real estate services provider First American Financial Corporation (First American) for violations of disclosure controls and...more

King & Spalding

Repairing A “Crack” in Insider Trading Regulation: SEC Rule 10b5-1 Trading Plans Face Increased Scrutiny

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SEC Rule 10b5-1 plans have long provided an effective means for corporate insiders to buy and sell their own company’s securities without fear of civil or criminal insider trading liability, but these plans have come under...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Takes Aim at SPACs

March Madness extends into April as the Commission markedly increases its focus on SPACs. Surprise pronouncements call into question use of the PSLRA safe harbor for projections and accounting treatment for warrants....more

Dorsey & Whitney LLP

SEC Enforcement: The Fourth Quarter of 2020

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The fourth quarter of calendar year 2020 continued trends evidenced in the third quarter of the year, although far fewer cases were initiated. There were actions brought in a number of key areas such as offering fraud cases,...more

Goodwin

U.S. SEC Enforcement Co-Director Discusses Agency’s COVID-19-Related Enforcement Priorities, Highlights Formation of Coronavirus...

Goodwin on

In a May 12, 2020 Keynote Address at the Securities Enforcement Forum West 2020, U.S. Securities and Exchange Commission (SEC) Co-Director of Enforcement Steven Peikin discussed the SEC’s COVID-19-related enforcement...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Enforcement and COVID-19

Expect the SEC to aggressively enforce the securities laws during and after the COVID-19 pandemic, particularly against market participants who act opportunistically. The SEC as well as senior staff within the Division of...more

Bass, Berry & Sims PLC

COVID-19: Mitigating Enforcement and Litigation Disclosure Risks for Public Companies

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The COVID-19 pandemic has created a disclosure nightmare for public companies. The Securities and Exchange Commission (SEC) has recognized this challenge and, to its credit, has provided relief to public companies by, among...more

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