On June 11, the Securities and Exchange Commission (SEC) announced the first settled case in its ongoing review of collaborations between investment advisors and short publishers. The SEC fined affiliated investment advisors...more
On April 4, the Securities and Exchange Commission (SEC) issued a stay on the implementation of its newly enacted climate impact disclosure rules. This decision is connected to a challenge to the rules currently pending in...more
In a 2-1 opinion issued on February 14, 2024, an Eleventh Circuit panel partially reversed a lower court ruling that would have barred a defendant from participating in future penny-stock offerings. The majority found it was...more
On October 4, U.S. Attorney for the Central District of California Martin Estrada announced the formation of a new task force, the Corporate and Securities Fraud Strike Force....more
10/13/2023
/ Bank Secrecy Act ,
California ,
Financial Markets ,
Financial Services Industry ,
Insider Trading ,
Money Laundering ,
Securities Fraud ,
Securities Regulation ,
Securities Transactions ,
Securities Violations ,
State and Local Government ,
Tax Evasion ,
Trading Platforms
The U.S. Supreme Court agreed to hear a case this term involving the circuit split over the types of disclosures that private plaintiffs can enforce under Section 10(b) of the Securities Exchange Act of 1934. Section 10(b)...more
10/6/2023
/ Certiorari ,
Class Action ,
Disclosure Requirements ,
Macquarie Infrastructure Corp v Moab Partners LP ,
Regulation S-K ,
Rule 10(b) ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Securities Violations
On September 8, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges against Monolith Resources LLC, a privately held technology and energy company headquartered in Nebraska. The SEC’s...more
Many publicly reporting companies often respond to lawsuits by characterizing them as “without merit” in their securities filings. If the company does not prevail in such litigation, can it still be held responsible for...more
8/17/2023
/ Class Action ,
Misappropriation ,
Misleading Statements ,
Publicly-Traded Companies ,
Scienter ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
Securities Violations ,
Smaller Reporting Companies ,
Trademarks
In a unanimous decision, the U.S. Supreme Court held in Slack Technologies v. Pirani, No. 22-200, 2023 WL 3742580, 598 U.S. __ ( June 1, 2023) that a claim under Section 11 of the Securities Act of 1933 is not viable unless a...more
On March 14, DXC Technology Company (DXC) settled charges alleged by the Securities and Exchange Commission (SEC) for $8 million. The SEC claimed that DXC made misleading disclosures and lacked adequate disclosure controls...more
Overview On December 14, 2022, the Securities and Exchange Commission (SEC) adopted amendments and certain enhanced disclosure requirements related to Rule 10b5-1 trading plans. The new amendments include...more
The Securities and Exchange Commission (SEC) has advised that it will actively pursue COVID-19 related insider trading and antifraud violations in light of the unique opportunities the pandemic has created for individuals and...more
Covering legal developments and regulatory news for registered funds, their advisers and industry participants through June 30, 2019.
Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships -
On...more
7/19/2019
/ Broker-Dealer ,
Capital Formation ,
Common Reporting Standard (CRS) ,
Conflicts of Interest ,
Duty of Care ,
Duty of Loyalty ,
ETFs ,
Fiduciary Duty ,
Financial Markets ,
Financial Services Industry ,
Form CRS ,
Investment Management ,
Investor Protection ,
Public Comment ,
Regulation Best Interest ,
Regulation S-X ,
Regulatory Standards ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation