News & Analysis as of

Civil Monetary Penalty Securities and Exchange Commission (SEC) Injunctions

Fenwick & West LLP

SEC v. Ripple Decision Makes Waves in Digital Assets Enforcement

Fenwick & West LLP on

On August 7, 2024, nearly four years after the SEC filed its complaint alleging Ripple sold XRP in unregistered securities transactions in violation of Section 5 of the Securities Act, the district court issued its final...more

Seward & Kissel LLP

SEC v. Ripple: Was it Worth it?

Seward & Kissel LLP on

On August 7, 2024, the U.S. District Court for the Southern District of New York permanently enjoined Ripple from future violations of Section 5 of the Securities Act of 1933—that is, from the unregistered offer and sale of...more

Seward & Kissel LLP

Gotta Catch Them All? SEC Brings First Crypto Insider Trading Action

Seward & Kissel LLP on

On July 21, 2022, the Securities and Exchange Commission (“SEC”) announced insider trading charges against a former Coinbase product manager, Ishan Wahi, his brother, Nikhil Wahi, and a friend, Sameer Ramani, for trading...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

King & Spalding on

The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Troutman Pepper

Investment Management Roundtable Discussion – Regulatory and Enforcement Update

Troutman Pepper on

Gregory J. Nowak, a partner and practice leader for hedge funds in Pepper Hamilton’s Private Fund Services Practice Group, hosts a series of candid, interactive webinar discussions for West LegalEdcenter on what is going on...more

Dorsey & Whitney LLP

SEC Enforcement after Kokesh and Cohen

Dorsey & Whitney LLP on

The remedies the Securities and Exchange Commission (“SEC”) can seek in its enforcement actions are a critical question in the wake of the Kokesh v. SEC, 137 S.Ct. 1635 (2017) and SEC v. Cohen, Civil Action No. 17-cv-430...more

Dorsey & Whitney LLP

SEC Settles Another Insider Trading Case Tied To Brocade Deal

Dorsey & Whitney LLP on

The acquisition of Foundry Networks, Inc., a networking hardware company, by Brocade Communications System, Inc., a technology company specializing in data and storage networking products, announced on July 21, 2008, has...more

Brooks Pierce

The SEC Totally Cares about Its Injunctions

Brooks Pierce on

Last week I wrote a post discussing the injunctions the SEC typically obtains against defendants in federal court. I noted the oddity of these obey-the-law injunctions and wondered aloud why the Commission never pursues...more

Brooks Pierce

The SEC Does Not Care about Its Injunctions

Brooks Pierce on

It won’t surprise you to learn that the U.S. Code includes this provision: “A court of the United States shall have power to punish by fine or imprisonment, or both, at its discretion, such contempt of its authority . . . as...more

Katten Muchin Rosenman LLP

SEC Settles Third-Party Insider Trading Claim Against Investor Relations Executive

The Securities and Exchange Commission recently announced a settlement with a partner at an investor relations firm who allegedly traded on inside information obtained through his representation of two companies. ...more

Dorsey & Whitney LLP

IR Executive Settles SEC Insider Trading Charges

Dorsey & Whitney LLP on

The SEC filed a settled insider trading case against a partner in an investor relations firm who traded securities based on information he obtained from draft press releases he worked on for firm clients. The settled action...more

Dorsey & Whitney LLP

SEC Files Another Settled Insider Trading Case

Dorsey & Whitney LLP on

Insider trading continues to be a key priority in the new get tough enforcement era. Last week closed with the filing of an insider trading action centered on the BP oil spill in the Gulf of Mexico. This week begins with...more

Dorsey & Whitney LLP

SEC Settles Insider Trading Case Tied to BP Oil Spill

Dorsey & Whitney LLP on

The SEC filed a settled insider trading action against an employee of BP p.l.c. tied to the Deepwater Horizon oil spill in 2010. Specifically, the Commission claims that Keith Seilhan had material non-public information...more

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