Last Lap in SEC RILA Rulemaking Critical Unresolved Issues -
Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more
5/29/2024
/ Artificial Intelligence ,
Broker-Dealer ,
CFTC ,
Climate Change ,
Cybersecurity ,
Disability Discrimination ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Investment Adviser ,
Investment Management ,
Life Insurance ,
NAIC ,
NLRB ,
Private Equity ,
Private Funds ,
Private Placements ,
Proposed Legislation ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Whistleblower Protection Policies ,
Whistleblowers
In January 2024, the SEC denied New Civil Liberties Alliance’s petition to halt so-called gag orders. The SEC has a procedural rule that requires it to impose these orders on individuals and companies settling with the SEC on...more
On April 12, 2024, the U.S. Supreme Court issued its opinion in Macquarie Infrastructure Corp. v. Moab Partners, L.P., resolving a circuit split among the Second, Third, and Ninth Circuits over whether plaintiffs could pursue...more
4/25/2024
/ Cause of Action Accrual ,
Failure To Disclose ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Omissions ,
Regulation S-K ,
Rule 10b-5 ,
SCOTUS ,
Securities Act of 1933 ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Securities Violations
Amid heightened inquiries from boards and board advisers within the private sector, a prevalent concern arises concerning fiduciary duties that may surface when debt covenants are triggered, when expenses are projected to...more
In a three-ring circus — where the first is the motion to dismiss, the second is class certification, and the third is summary judgment — the Second Circuit Court of Appeals has introduced a new act in the second ring for...more
1/19/2024
/ Class Action ,
Class Certification ,
Fraud-on-the-Market ,
Goldman Sachs ,
Investment ,
Material Misrepresentation ,
Motion to Dismiss ,
Securities Exchange Act of 1934 ,
Stock Prices ,
Stock Trades ,
Summary Judgment
The SEC has continued its enforcement against employers — including privately held companies — that have provisions in their agreements or policies that could potentially discourage whistleblowing or communications with...more
Regulators Hit Jackpot: Off-Channel Communications -
Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about...more
10/11/2023
/ Annuities ,
Artificial Intelligence ,
Best Interest Standard ,
Breach of Contract ,
Class Action ,
COBRA ,
Consumer Financial Products ,
Consumer Insurance Products ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employment Litigation ,
Federal Arbitration Act ,
Financial Contracts ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Health Insurance ,
Insider Trading ,
Insurance Fraud ,
Insurance Litigation ,
Insurance Regulations ,
Interlocutory Appeals ,
Investment Management ,
Life Insurance ,
Money Market Funds ,
Mutual Funds ,
NAIC ,
NLRA ,
NLRB ,
No-Action Letters ,
Non-Compete Agreements ,
NYDFS ,
Regulatory Requirements ,
Retirement ,
Robocalling ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
State and Local Government ,
Wage and Hour
The U.S. Supreme Court’s June 2023 decision to grant certiorari in SEC v. Jarkesy called into question the SEC’s ability to pursue penalties and other legal remedies before the SEC’s in-house administrative law judges. If...more
10/3/2023
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Constitutional Challenges ,
Financial Services Industry ,
Investment Management ,
Jury Trial ,
Retirement ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Seventh Amendment
The Eleventh Circuit Court of Appeals recently affirmed the dismissal of a purported securities fraud class action, because lower-level corporate officials with knowledge of an alleged fraudulent sales scheme were not...more