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Last week, the House overwhelmingly passed legislation aimed at closing what lawmakers have called a “loophole” for insider trading—corporate insiders trading between the occurrence...
On December 30, 2019, the United States Court of Appeals for the Second Circuit affirmed the convictions of four individuals charged with disclosing and trading on nonpublic government in...
Assistant Attorney General Brian Benczkowski, the head of DOJ’s Criminal Division, recently gave a speech in which he clarified that DOJ will not automatically seek to impose agency lia...
The Department of Justice (“DOJ”) modified its Corporate Enforcement Policy to clarify what level of disclosure is expected from companies in the early stages of an investigation. In...
The SEC’s Enforcement Division (the “Division”) released its annual report on November 6. The Division filed 7% more standalone cases in 2019 than it did in 2018, and financial sanc...
On Friday, November 1, 2019, the Supreme Court granted certiorari in Liu v. Securities and Exchange Commission, a case that challenges the SEC’s long-held position that it has authorit...
Earlier this month, SEC Chairman Jay Clayton issued a statement announcing a change in the SEC’s waiver application process that will streamline the SEC settlement process. The Commissi...
House Financial Services Committee Chair Maxine Waters (D-CA) has released a discussion draft of legislation to amend the SEC’s approach to considering and granting waivers to automatic...
On April 30, 2019, Assistant Attorney General Brian Benczkowski of the Criminal Division of the Department of Justice (“DOJ”) announced an updated version of the Criminal Division’s...
In a suit against Volkswagen filed last week, the SEC alleges that the company committed fraud in connection with offerings of its corporate and collateralized debt. This latest U.S. enfo...