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Securities and Exchange Commission (SEC) Civil Monetary Penalty

Polsinelli

Blockchain+ Bi-Weekly; Highlights of the Last Two Weeks in Web3 Law: February 27, 2025

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Three of the SEC’s key enforcement actions—all extensively covered in BitBlog and widely seen as emblematic of the agency’s adversarial stance toward the industry—are reportedly being halted or dismissed. The SEC has agreed...more

Cooley LLP

Misleading political spending disclosure alleged to run afoul of the securities laws

Cooley LLP on

How did federal racketeering and conspiracy charges against a politician and a 501(c)(4) organization controlled by him lead to another company’s alleged securities law violations? According to this SEC Order against...more

Morgan Lewis - As Prescribed

Clinicaltrials.gov: Recent Action May Signal Increased Attention from FDA on Trial Data Reporting Compliance

The US Food and Drug Administration (FDA) recently issued a notice of noncompliance to the FADOI Foundation, citing the organization’s failure to submit required clinical trial results to ClinicalTrials.gov. The notice...more

Cornerstone Research

SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration

Cornerstone Research on

Enforcement during Gensler administration was considerably higher than during the previous administration. The Securities and Exchange Commission (SEC) brought 33 cryptocurrency-related enforcement actions in 2024, the...more

A&O Shearman

SEC Announces Settlement With Investment Advisory Firm For Allegedly Breaching Fiduciary Duties And Violating Whistleblower...

A&O Shearman on

On January 16, 2025, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against a pair of related investment advisers (the “Investment Adviser”) for allegedly breaching their fiduciary duties by...more

Mintz - Health Care Viewpoints

EnforceMintz —Could the Supreme Court’s Decision in Jarkesy Mean the End to HHS Civil Monetary Penalty Authorities as We Know...

Last June, the Supreme Court issued its decision in Securities and Exchange Commission v. Jarkesy, which holds that the Seventh Amendment entitles a defendant to a jury trial when the Securities and Exchange Commission (SEC)...more

King & Spalding

When Mentors and Loved Ones Are Dangerous: Avoid Insider Trading Charges with a 2025 New Year's Resolution

King & Spalding on

It happens all the time: a public company employee seeks career advice from a mentor, spouse, or friend with whom they have a longstanding relationship of trust and confidence. It could be part of a regular check-in, or it...more

Morrison & Foerster LLP

Three Firms That Engaged in General Solicitation Settle with SEC for Failure to Timely File Forms D

On December 20, 2024, the Securities and Exchange Commission (SEC or the “Commission”) announced charges against several entities that failed to file a Form D within 15 days of a private sale of securities. These entities,...more

Seward & Kissel LLP

SEC Brings Charges for Failure to File Form D Notice in Connection with Exempt Securities Offerings under Regulation D

Seward & Kissel LLP on

On December 20, 2024, the Securities and Exchange Commission (“SEC”) announced charges against two private companies and a registered investment advisor for failure to file a Form D in connection with exempt offerings under...more

Foley & Lardner LLP

SEC Enforcement Action Against Church & Dwight Director: Lessons for Outside Directors

Foley & Lardner LLP on

The SEC’s settlement with James R. Craigie, former CEO, chairman, and director of Church & Dwight Co. Inc., for violating proxy disclosure rules by standing for election as an independent director without disclosing his close...more

BCLP

Medical Device Company Settles Fraud Charges With SEC, Agrees to Pay $175m Civil Penalty and Retain Compliance Consultant

BCLP on

On December 16, 2024, the SEC announced settled charges against Becton, Dickinson and Company for misleading investors about risks associated with its continued sales of one of its key products and overstating its income by...more

ArentFox Schiff

Investigations Newsletter: California Doctor to Pay $3 Million for Insider Trading

ArentFox Schiff on

California Doctor to Pay $3 Million for Insider Trading - On December 18, a California oncologist agreed to pay the US Securities and Exchange Commission (SEC) $3 million to resolve allegations of insider trading. The SEC...more

Holland & Knight LLP

A Long Winter's Nap? SEC Off-Channel Communications Enforcement May Draw to a Close

Holland & Knight LLP on

The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2024

Proskauer Rose LLP on

Following our annual tradition — which started over a decade ago — we are analyzing the year's 10 most significant whistleblower and retaliation events. As you'll see, in 2024, actions taken by a range of courts and...more

Epstein Becker & Green

The Loper and Jarksey Era: Agency Power to Award Civil Penalties in SEC and FINRA Under Increased Scrutiny

Epstein Becker & Green on

Since the U.S. Supreme Court’s landmark Loper decision, which overturned the longstanding precedent of the Chevron doctrine for agency deference, it was anticipated that lower courts, as well as the Supreme Court, would begin...more

Fenwick & West LLP

Is the SEC Cracking Down on Life Science Companies Misleading Investors?

Fenwick & West LLP on

On December 3, the U.S. Securities and Exchange Commission settled charges against biotherapeutics company Kiromic BioPharma, Inc., its former CEO, and its former CFO for failing to disclose material information about...more

Freiberger Haber LLP

Enforcement News: Broker-Dealers Settle Charges for Filing Deficient SARs

Freiberger Haber LLP on

The Bank Secrecy Act (“BSA”) and implementing regulations promulgated by the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) require that broker-dealers file a suspicious activity report (SAR”) with...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for October 2024

Morrison & Foerster LLP on

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: •Accounting fraud charges for allegedly concealing costs; ...more

King & Spalding

SEC Enforcement Fiscal Year 2024 Results – A Look Behind the Numbers

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SEC Chair Gary Gensler announced November 21 that he will leave his post January 20, 2025. The next day, the SEC announced its enforcement results for fiscal year 2024, which ended September 30. This was the latest release of...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - October 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Royer Cooper Cohen Braunfeld LLC

The Pitfalls of “Green Washing”

In a significant development for the investment management industry, a large adviser agreed to pay a hefty $17.5 million civil penalty to settle charges with the SEC over misleading statements about its Environmental, Social,...more

BCLP

Artificial Intelligence Stays in the SEC's Cross-Hairs

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As news stories about AI have surged, so have enforcement actions by the SEC alleging fraudulent statements about AI capabilities....more

Wiley Rein LLP

Dissenting Commissioners Criticize SEC’s Latest Cybersecurity Disclosure Cases

Wiley Rein LLP on

Continuing its controversial and aggressive approaches to cybersecurity, the U.S. Securities and Exchange Commission (SEC) recently charged four current and former public companies for purportedly “materially misleading...more

Holland & Knight LLP

Undeterred by the SolarWinds Storm: SEC Charges Victims of Compromised Software

Holland & Knight LLP on

The SEC on Oct. 22, 2024, announced charges against four companies for allegedly making materially misleading disclosures concerning the impact of cybersecurity incidents associated with the compromised SolarWinds' Orion...more

Fenwick & West LLP

The SEC is Cracking Down on Misleading Cybersecurity Disclosure

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On October 22, 2024, the SEC charged two current reporting companies, Unisys Corp. and Check Point Software Technologies, and two former public companies, Mimecast Limited and Avaya Holdings Corp., with making materially...more

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