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Securities Violations Securities Regulation Disgorgement

Jones Day

First Circuit Reverses SEC Win in $93 Million Investment Adviser Disclosure Case

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The court rejects the SEC's per se materiality argument and requires proof of a causal connection between the defendant's allegedly inadequate disclosures and purported unlawful profits....more

Mayer Brown Free Writings + Perspectives

SDNY Issues Final Ruling on SEC v. Ripple

Earlier this month, the Southern District of New York issued its final ruling and remedies order in Securities and Exchange Commission v. Ripple Labs, Inc. Judge Analisa Torres found that the SEC failed to show that any...more

Fenwick & West LLP

SEC v. Ripple Decision Makes Waves in Digital Assets Enforcement

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On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more

Polsinelli

Congress Amends Exchange Act Of 1934 To Address Disgorgement Penalties In Defense Spending Bill

Polsinelli on

The New Year is still young, but major changes are already afoot in securities enforcement as Congress amended the Securities Exchange Act of 1934 (“Exchange Act”) on January 1, 2021. It was easy to miss these changes to the...more

Mayer Brown Free Writings + Perspectives

The US National Defense Authorization Act for Fiscal Year 2021: Securities Law Implications

The William (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (NDAA, or the Act), which was enacted into law on New Year’s Day when the US Congress overrode President Trump’s veto of the legislation,...more

Herbert Smith Freehills Kramer

Congress Seeks to Amend Securities Laws on Disgorgement

The House of Representatives (on Dec. 8, 2020) and the Senate (on Dec. 11, 2020) passed the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, H.R. 6395 (the NDAA). While the bill’s principal...more

Herbert Smith Freehills Kramer

SEC Settlement in the Curt Schilling 38 Studios Matter Highlights the Section 17(a)(2) Liability of Initial Purchasers in Rule...

On March 20, 2019, an agreement between Wells Fargo Securities LLC (Wells Fargo) and the Securities and Exchange Commission (SEC) to settle litigation involving failed video game company 38 Studios, LLC, headed by former...more

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