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Civil Monetary Penalty Enforcement Securities Exchange Act of 1934

Snell & Wilmer

SEC v. Panuwat: The SEC’s “Shadow Trading” Paradigm

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On April 5, 2024, the Securities and Exchange Commission (“SEC”) obtained its first favorable insider trading verdict based on “shadow trading.” The SEC filed suit against Matthew Panuwat, claiming that he accessed highly...more

Bracewell LLP

Supreme Court Declares SEC Lacks In-House Authority to Impose Civil Penalties

Bracewell LLP on

The United States Supreme Court struck another major blow to the Securities Exchange Commission’s enforcement arsenal, finding that its oft-used practice of imposing monetary penalties in its in-house administrative...more

White & Case LLP

The SEC’s Charges Against SolarWinds and its Chief Information Security Officer Provide Important Cybersecurity Lessons for Public...

White & Case LLP on

On October 30, 2023, the US Securities and Exchange Commission ("SEC") announced that it filed charges against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer ("CISO") in connection...more

Freiberger Haber LLP

Enforcement News: SEC Charges Investment Advisor With Violating Whistleblower Protection Rule

Freiberger Haber LLP on

We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more

Akin Gump Strauss Hauer & Feld LLP

SEC Announces Charges for Schedule 13D, Schedule 13G and Section 16 Reporting Violations

On September 27, 2023, the Securities and Exchange Commission (SEC) issued a press release announcing charges against officers, directors and large investors in public companies for failure to timely make Section 16, Schedule...more

Bracewell LLP

Fifth Circuit's Constitutional Carve-Back of the SEC's ALJ Enforcement Proceedings Likely to Lead to More Federal Court Cases

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On May 18, 2022, the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) dealt a major blow to the U.S. Securities and Exchange Commission’s (“SEC”) enforcement program. In Jarkesy v. SEC, the Fifth...more

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