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August was the most active month for enforcement since September 2020. The SEC filed 71 actions and the CFTC filed four, against a combined total of 148 defendants and respondents. (This…
The SEC Enforcement Division’s 2020 Annual Report focuses on COVID-related investigations while reporting fewer case filings, slightly more monetary relief ordered, and a record-breaking…
In a first-of-its-kind case, the SEC focused on a company's accounting controls around Rule 10b5-1 buybacks and imposed a $20 million fine. The novel theory in the case highlights the need…
A divided Securities and Exchange Commission voted to amend its whistleblower rules to: (1) increase the amounts of smaller awards; (2) assert SEC discretion in determining award amounts; …
A speech by the Director of Enforcement and several recent insider trading cases signal that the SEC will seek increased penalties in some cases in response to the Supreme Court’s…
On Friday, July 3, 2020, the Department of Justice’s Criminal Division and the Securities and Exchange Commission’s Enforcement Division published the Second Edition of its Resource Guide…
On Monday, June 22, 2020, the Supreme Court decided Liu v. Securities and Exchange Commission, the latest decision in a long-running challenge to the SEC’s authority to obtain disgorgement…
A $900,000 fine is a reminder for companies to use care in tracking and disclosing all elements of executive compensation.
Executive perks may not be material to a company's financial…
As the COVID-19 crisis places extraordinary pressure on the supply chain for various essential goods, federal and state authorities have turned their focus to suspected instances of price…
On May 7, 2020, the Supreme Court in Kelly v. United States reversed the convictions of two former New Jersey officials charged with fraud after closing lanes of the George Washington…