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Securities and Exchange Commission (SEC) Enforcement Financial Institutions

Mayer Brown Free Writings + Perspectives

SEC Grants Temporary Exemption from Rule 13f-2 and Form SHO Compliance

On February 7, 2025, the US Securities and Exchange Commission (SEC) provided a temporary exemption from compliance with Rule 13f-2 under the Securities Exchange Act and the associated Form SHO reporting. Originally, the...more

K2 Integrity

Implementing FinCEN Final Rule Imposing Anti-Money Laundering Requirements On Investment Advisers

K2 Integrity on

On 28 August 2024, the Financial Crimes Enforcement Network (FinCEN) issued its Final Rulemaking to include certain investment advisers in the definition of a “financial institution” under the Bank Secrecy Act (BSA). The...more

Conyers

Shifting Sands: The Future of Offshore Regulatory Disputes (Part 1)

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As an evolving area of commercial disputes in the Cayman Islands, global enforcement trends provide us with valuable insight into the types of regulatory proceedings on the horizon for offshore jurisdictions. In this first...more

Freiberger Haber LLP

Enforcement News: SEC Charges Bank With Misleading Investors About The Strength Of Its BSA/AML Compliance Program And Its...

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The Currency and Foreign Transactions Reporting Act, also known as the “BSA,” enacted in 1970, established requirements for record-keeping and reporting by banks and other financial institutions. The BSA is designed to, among...more

K&L Gates LLP

AML Update: SEC and FinCEN Propose Anti-Money Laundering and Customer Identification Programs for Investment Advisers

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Introduction - On 13 May 2024, the Securities and Exchange Commission (SEC) and the US Department of Treasury’s (DoT) Financial Crimes Enforcement Network (FinCEN) jointly proposed rulemaking to implement Section 326 of the...more

Foley & Lardner LLP

SEC Tightens Cybersecurity Requirements with Regulation S-P Amendments

Foley & Lardner LLP on

Share on Twitter Print Share by Email Share Back to top “The basic idea for covered firms is if you’ve got a breach, then you’ve got to notify. That’s good for investors.” Those were among the remarks that U.S. Securities and...more

Smith Debnam Narron Drake Saintsing & Myers,...

What Small Businesses Need to Know About the Corporate Transparency Act

If you are operating a small business and have not educated yourself about the Corporate Transparency Act (“CTA”) requirements that became effective on January 1, 2024, now would be a good time to pay attention. Knowing the...more

King & Spalding

Recent Enforcement Trends Regarding the Use of Off-Channel Communications on Personal Devices

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What U.K. Firms Need to Know - INTRODUCTION - Over the past decade, the use of messaging applications, such as WhatsApp, for business purposes as an alternative to traditional email has grown exponentially. Ease of use...more

Buchalter

PPP Lender Liability, Enforcement, & Fintech Challenges

Buchalter on

The Paycheck Protection Program (“PPP”) emerged as a lifeline for small businesses grappling with the unprecedented challenges of the COVID-19 pandemic. Lenders navigated a landscape of regulations that Congress quickly...more

American Conference Institute (ACI)

[Event] 13th West Coast Forum on FCPA Enforcement and Compliance - June 14th - 15th, San Francisco, CA

Hosted by American Conference Institute, the 13th West Coast Forum on FCPA Enforcement and Compliance returns for another exciting year, providing the opportunity to connect with decision-makers from your industry, gather...more

Butler Snow LLP

What is the Message from Artificial Intelligence

Butler Snow LLP on

When announcing the much publicized $125 million fine against JP Morgan for violating recordkeeping rules, the U.S. Securities and Exchange Commission (“SEC”) Chair stated that financial institutions “did not act as if they...more

A&O Shearman

Sterling Bancorp Pleads Guilty To Criminal Securities Fraud

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On March 15, 2023, the Department of Justice (“DOJ”) announced that Michigan-based bank Sterling Bancorp, Inc. (“Sterling”) agreed to plead guilty to securities fraud for allegedly filing false statements relating to its 2017...more

Faegre Drinker Biddle & Reath LLP

New Year’s Priorities: FINRA Releases its 2023 Report on its Examination and Risk Monitoring Program

Yes, (somehow) it is that time of year again. FINRA recently released its 2023 Report on its Examination and Risk Monitoring Program (the “Report”). As is typical (and this blog has well-covered), it contains a mix of old and...more

Foley Hoag LLP - White Collar Law &...

Companies Should Beware of Employees Texting Business Communications

Text messaging is convenient.  It is an informal and instant mode of communication now available through numerous apps, which allow an individual to use their synced phone, tablet, and computer to quickly fire off messages. ...more

Goodwin

CFTC Commissioner Romero Calls on Agency to Bring the “HEAT” in Enforcement Actions

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CFTC Commissioner Christy Goldsmith Romero recently criticized the agency’s longstanding practice of settling enforcement cases without seeking admissions of wrongdoing (so-called “no-admit/no-deny” settlements). She suggests...more

Sheppard Mullin Richter & Hampton LLP

The Department of Justice Sets Cryptocurrency Squarely in its Sights

The Department of Justice is aggressively scrutinizing participants in the cryptocurrency markets—including “financial institutions working with cryptocurrency”—to thwart the use of the technology as a vehicle for money...more

Goodwin

Climate Clash at the Commission?

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A flurry of recent climate-related announcements from the SEC forecasts an upcoming policy battle at the agency. Acting Chair Allison Herren Lee has signaled that “ESG” will clearly be in focus across the SEC’s various...more

Goodwin

Financial Services Weekly Roundup: New Rules, Amendments And More Amid Coronavirus Outbreak

Goodwin on

In This Issue. The ongoing global outbreak of the coronavirus (COVID-19) continues to grow in scale and scope. In response, federal financial regulators are continuing efforts to bring regulatory relief to promote stability...more

Latham & Watkins LLP

Current Developments in the US: White-Collar Enforcement and trends for 2020

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In the following article we will discuss the current developments and trends for 2020 and outline what EU-based companies with a US presence should look out for in 2020 regarding US white-collar and compliance trends in the...more

Goodwin

Financial Services Weekly News - October 2016 #3

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Editor's Note - Another Cybersecurity Proposal. On the heels of the New York State Department of Financial Services (NYDFS) issuing its proposed regulation that would require banks and insurance companies to institute...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The debate over waivers WKSI waivers and other similar provisions continued this week. The Commission granted a WKSI waiver to Deutsche Bank despite a guilty plea to criminal felony charges but only over the dissent of...more

Goodwin

Financial Services Weekly News Roundup - April 2015 #5

Goodwin on

Ninth Circuit Denies Rehearing of Northstar v. Schwab. On April 28, the U.S. Court of Appeals for the Ninth Circuit denied the petition of Schwab Investments’ (Schwab) for rehearing and rehearing en banc in the case of...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

2014—A Record-Setting Year for Whistleblowers

2014 was a record-breaking year for whistleblowers, including both the U.S. Department of Justice’s prosecution of cases under the False Claims Act (FCA) and the U.S. Securities and Exchange Commission’s prosecution of cases...more

BakerHostetler

2014 Year-End Securities Litigation Enforcement Highlights

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In This Issue: - I. Supreme Court Cases Review - II. Securities Law Cases - III. Insider Trading Cases - IV. Settlements - V. Investment Adviser and Hedge Fund Cases - VI. CFTC Cases and...more

BakerHostetler

2014 Mid-Year Report Securities Litigation and Regulatory Enforcement

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Welcome to the 2014 Mid-Year Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. Its purpose is to provide a periodic survey, apart from our team Executive Alerts, on matters we...more

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