On June 27, 2024, in Securities and Exchange Commission v. Jarkesy, the Supreme Court held that the Securities and Exchange Commission’s (SEC or the Commission) administrative process for adjudicating fraud-based enforcement...more
7/19/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Enforcement Actions ,
Jury Trial ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Seventh Amendment
On June 30, 2023, the Supreme Court granted certiorari in Securities and Exchange Commission v. Jarkesy to review a decision by the Fifth Circuit rejecting key aspects of the Securities and Exchange Commission’s (SEC or the...more
7/10/2023
/ Administrative Law Judge (ALJ) ,
Administrative Procedure ,
Appeals ,
Article II ,
Certiorari ,
PCAOB ,
Removal For-Cause ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Seventh Amendment
On Tuesday, Apr. 18, Kramer Levin presented a hybrid program, “Charting a Course Through ESG Challenges: Perspectives from the U.S., the U.K. and Europe.” Moderated by Kramer Levin partner Andrew Otis, the event was...more
4/26/2023
/ Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
EU ,
Greenwashing ,
Investment Management ,
Popular ,
Retirement Plan ,
Sustainability ,
Sustainable Finance ,
UK
On April 14, 2023, the Supreme Court issued a unanimous decision in two related cases, Axon Enterprise, Inc. v. FTC (No. 21-86) and SEC v. Cochran (No. 21-1239), holding that respondents may challenge the constitutionality of...more
Earlier this month, at the American Bar Association’s (ABA) 38th National Institute on White Collar Crime, Deputy Attorney General Lisa O. Monaco and Assistant Attorney General Kenneth A. Polite, Jr. highlighted the...more
Eager to enlist corporations as “allies in [its] fight against crime,” the Department of Justice (DOJ) announced on Tuesday, Jan. 17, 2023, expansions to the Criminal Division’s corporate enforcement policy, now the Criminal...more
On Dec. 5, the Securities and Exchange Commission (SEC) announced that AT&T has agreed to a $6.25 million penalty, resolving charges brought against it under the securities rule known as Regulation Fair Disclosure (Regulation...more
On Sept. 15, 2022, Deputy Attorney General Lisa Monaco spoke at New York University Law School outlining the U.S. Department of Justice’s (DOJ) priorities and policies on corporate criminal enforcement....more
On Aug. 12, 2022, the Court of Appeals for the Second Circuit issued an important decision regarding the scope of the Foreign Corrupt Practices Act’s (FCPA) application to non-U.S. citizens who are employed by foreign...more
This alert addresses proceedings in two SEC securities enforcement actions emanating out of the Fifth Circuit. Both pose issues relating to the SEC’s power to bring enforcement proceedings in front of in-house administrative...more
On Feb. 25, 2022, the U.S. Court of Appeals for the Second Circuit held in United States v. Afriyie that restitution orders under the Mandatory Victims Restitution Act (MVRA) do not allow victims to recover attorneys’ fees...more
On Wednesday, March 9, 2022, President Biden issued a long-awaited Executive Order, Ensuring Responsible Development of Digital Assets, that outlined a whole-of-government approach to regulating digital assets...more
In their March 3, 2022, speeches to the 37th American Bar Association (ABA) National Institute on White Collar Crime, Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite Jr. both emphasized the...more
Judge William H. Orrick of the Northern District of California recently denied a motion to dismiss the Securities and Exchange Commission’s (SEC’s) first insider trading case charging a defendant with “shadow trading.” The...more
In her Oct. 28, 2021 keynote address at the American Bar Association’s 36th National Institute on White Collar Crime, new Deputy Attorney General (DAG) Lisa Monaco announced several policy changes to the Department of...more
In a recent speech at the Practising Law Institute’s annual SEC Speaks conference, Gurbir Grewal, the new director of the Division of Enforcement for the Securities and Exchange Commission (SEC or Commission), signaled...more
On Sept. 27, 2021, the U.S. Court of Appeals for the Second Circuit rejected the most recent legal challenge to the Securities and Exchange Commission’s (SEC) practice of using “no-deny” consent agreements to resolve civil...more
On Sept. 14, 2021, the Securities and Exchange Commission (SEC) entered a cease-and-desist order against App Annie Inc. and its co-founder and former CEO, Bertrand Schmitt, after agreeing to settle securities fraud claims....more
On March 5, the Securities and Exchange Commission (SEC) announced that it had charged AT&T and three of its midlevel investor relations executives with violating Regulation FD, a rule that bars issuers from selectively...more
On March 4, the U.S. Securities and Exchange Commission (SEC) announced the creation of a Climate and ESG Task Force in the Division of Enforcement. Climate risks and sustainability have been of increasingly critical interest...more
3/8/2021
/ Biden Administration ,
Business Strategies ,
Capital Investments ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Management ,
Joint Task Force ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Sustainability
In a recent settled administrative proceeding, the Securities and Exchange Commission (SEC or the Commission) imposed a $20 million fine and a cease-and-desist order on Andeavor LLC, a Texas energy company, in connection with...more
On July 3, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) released the Second Edition of their joint Resource Guide to the U.S. Foreign Corrupt Practices Act (Resource Guide or Guide). ...more
Three years ago, in a footnote to its unanimous opinion in Kokesh v. S.E.C., the Supreme Court left open two questions: “whether courts possess authority to order disgorgement in SEC enforcement proceedings” and “whether...more
On May 7, 2020, the Supreme Court unanimously overturned the convictions of two public officials charged in the “Bridgegate” political corruption scandal. ...more
5/13/2020
/ Appeals ,
Bridgegate ,
Criminal Convictions ,
Federal-Program Fraud ,
Governor Christie ,
Intent to Obtain Money or Property ,
Kelly v United States ,
Political Scandals ,
Public Officials ,
Reversal ,
SCOTUS ,
Wire Fraud
There are many litigation issues presented by the outbreak of and response to COVID-19 (the disease caused by the novel coronavirus). We address below several practical and legal issues to consider during this challenging...more