Following its previously announced enforcement sweep in September 2023, the Securities and Exchange Commission (SEC) announced on September 25, 2024, that it had settled charges against 23 entities and individuals for failing...more
On August 26, 2024, the Securities and Exchange Commission (SEC) announced an order against a registered investment adviser, Sound Point Capital Management, LP, for its failure to “establish, maintain, and enforce written...more
In April, we issued an alert discussing the U.S. Securities and Exchange Commission ("SEC") and Department of Justice’s ("DOJ") expansion of insider trading to 10b5-1 plans. On June 21, 2024, a federal jury in California...more
As discussed in our March 3, 2023 post, the DOJ and SEC brought an insider trading case against the founder and former CEO and Executive Chairman of Ontrak, Inc. based upon the former executive failing the “clean hands”...more
On December 26, 2023, the Securities and Exchange Commission (the SEC) issued an administrative cease and desist order against a middle market private equity firm (the Private Equity Firm) for failure to enforce its own...more
On Wednesday, March 1 the Department of Justice (DOJ) announced its first-ever prosecution of an individual for insider trading based on an executive’s use of 10b5-1 trading plans. Terren Peizer, the executive chairman of...more
The U.S. Securities and Exchange Commission has released its much-anticipated rule amendments regarding the use of trading plans by insiders. On Dec. 14, 2022, the SEC finalized amendments to Rule 10b5-1 of the Securities...more
As the SECond Opinions Blog continues our review of FY 2021 U.S. Securities and Exchange Commission's (SEC) enforcement activity, we take a deeper dive into the agency's use of technology to generate enforcement leads. The...more
On January 14, 2022, Judge William Orrick of the United States District Court for the Northern District of California issued an order denying a former biopharmaceutical company executive’s motion to dismiss and allowing the...more