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Congress Expands SEC’s Disgorgement Power in Defense Spending Bill

On January 1, 2021, Congress significantly expanded the SEC’s authority to seek disgorgement as a remedy for violations of the federal securities laws, responding to recent decisions by the U.S. Supreme Court that had limited...more

SEC Amends Whistleblower Rules

On September 23, 2020, the Securities and Exchange Commission (SEC), in a 3-2 vote, approved several significant amendments to, and interpretive guidance on, the rules governing its whistleblower program. Most...more

Insider Trading, Congress and COVID-19: A Renewed Focus on the STOCK Act

The recently-reported sales of stock by several U.S. Senators following private briefings on the COVID-19 pandemic, apparently allowing them to avoid significant losses before the markets plummeted, have focused attention on...more

SEC Division of Enforcement Warns of COVID19 Insider Trading Risks

On March 23, the SEC Division of Enforcement (Enforcement) issued a public statement bluntly warning issuers and insiders connected to them, along with broker-dealers and investment advisers, about the unique risks of insider...more

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