Under the newly announced pilot program, individuals who fully cooperate and voluntarily provide the Criminal Division with information on certain types of corporate and white-collar offenses may receive an NPA in exchange...more
The new flexible work environment created in the post-pandemic years poses unique challenges for companies and individuals who work outside a traditional office. The SEC knows this and is actively enforcing the securities...more
The newly announced whistleblower policy gives certain individuals who promptly and completely cooperate with prosecutors the opportunity to receive a non-prosecution agreement in exchange for their information....more
The settlements announced by the SEC and CFTC on Monday are a continuation of the regulators’ focus on off-channel communications by employees of registered entities....more
8/11/2023
/ Books & Records ,
Bring Your Own Device (BYOD) ,
Broker-Dealer ,
CFTC ,
Civil Monetary Penalty ,
Commodity Exchange Act (CEA) ,
Data Preservation ,
Data Retention ,
Electronic Communications ,
Enforcement Actions ,
Financial Services Industry ,
Hedge Funds ,
Mobile Apps ,
Private Equity ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Settlement ,
Swap Dealers
The SEC and CFTC settlements with HSBC and Scotia Capital come after years of federal regulators’ and prosecutors’ steadily increasing scrutiny of off-channel communications. Anchoring these settlements are long-standing...more
5/24/2023
/ Amended Rules ,
Books & Records ,
CFTC ,
Compliance ,
Data Preservation ,
Department of Justice (DOJ) ,
Discovery ,
Electronic Communications ,
Employment Policies ,
Enforcement Actions ,
Instant Messaging Apps ,
Mobile Devices ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
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
3/8/2023
/ 10b5-1 Plans ,
Amended Regulation ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Form 8-K ,
Indictments ,
Insider Information ,
Insider Trading ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Fraud
Monaco’s and Polite’s remarks, and the DOJ’s new policies and guidance, come amid the Department’s increasingly tough on corporate crime approach and emphasis on rewarding companies that have effective compliance programs...more
3/7/2023
/ Chief Compliance Officers ,
Compliance ,
Compliance Monitoring ,
Cooperation ,
Corporate Crimes ,
Corporate Culture ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Electronic Communications ,
Enforcement Priorities ,
Executive Compensation ,
Monaco Memo ,
Self-Disclosure Requirements
On Feb. 7, 2023, the Division announced its 2023 examination priorities. These priorities, updated and published annually, provide insights into the Division’s prioritization of certain practices, products and services in its...more
On February 1, the U.S. District Court for the Southern District of New York dismissed a putative class action brought by customers of Coinbase Global Inc. and its subsidiary Coinbase Inc. (together, Coinbase), alleging the...more
On Jan. 17, AAG Polite announced “the first significant changes” to the CEP since 2017. The policy revisions will apply to all corporate criminal matters handled by the Criminal Division and offer companies “new, significant,...more
1/30/2023
/ Amended Regulation ,
Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Cooperation ,
Corporate Misconduct ,
Corruption ,
Criminal Penalties ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
FCPA Corporate Enforcement Policy (CEP) ,
Remediation ,
Self-Reporting ,
White Collar Crimes
The 2023 Report on FINRA’s Examination and Risk Monitoring Program was published on Jan. 10, 2023. In a statement accompanying the Report, Greg Ruppert, executive vice president of FINRA’s Member Supervision organization,...more
1/19/2023
/ Annual Reports ,
Anti-Money Laundering ,
Broker-Dealer ,
Compliance ,
Cybersecurity ,
Economic Sanctions ,
Enforcement Priorities ,
Financial Crimes ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fraud ,
Internal Reporting ,
Investment Adviser ,
Market Manipulation ,
Risk Management