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1 month ago | 
mondaq.com | Katherine Goldstein |Michael Asaro |Kaitlyn Tongalson |Peter Altman
On March 11, 2025, CFTC Acting Chair Caroline D. Pham announceda new 30-day "enforcement sprint" during her keynoteaddress at the Futures Industry Association's 50th annualconference, a unique approach to resolving matters which may be ofinterest to registrants with open investigations or matters toself-report which meet certain criteria.
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Jan 24, 2025 | 
mondaq.com | Peter Altman |Michael Asaro |Anne Evans |Katherine Goldstein
On January 13, 2025, the U.S. Securities and Exchange Commissionannounced settled enforcement actions withfive registered investment advisers for failing to maintain andpreserve internal electronic communications.
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Aug 19, 2024 | 
mondaq.com | Natasha Kohne |Lance Jasper |Michael Asaro |Peter Altman
Judge Engelmayer's 107-page dismissal of most of the U.S.
Securities and Exchange Commission (SEC)'s claims against
SolarWinds provides valuable guidance, and some comfort, for public
companies and Chief Information Security Officers (CISOs). The SEC
lost the bulk of its fraud claims and all of its internal controls
claims in a decision that significantly undermines its reliance on
hindsight to punish alleged deficiencies in cybersecurity programs.
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Jul 12, 2024 | 
jdsupra.com | Peter Altman |Michael Asaro |Paul Butler
On June 26, 2024, the U.S. Supreme Court held 6-3 in Snyder v. United States that a federal statute, 18 U.S.C. § 666(a)(1)(B), does not criminalize “gratuities” to state and local officials—i.e., payments made to those officials after an official act as a reward or token of appreciation.
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Apr 22, 2024 | 
mondaq.com | Peter Altman |Michael Asaro |Brian Daly |Jason Daniel
On April 12, 2024, the U.S. Securities and Exchange Commission
imposed fines and other sanctions on five registered investment
advisers (RIAs) for violations of the Investment Adviser Marketing
Rule (Rule 206(4)-1), which has now been in effect for nearly a
year and a half. All five firms agreed to settle the SEC's
charges, resulting in aggregate fines of $200,000.
Hypothetical Performance. Each of the
settled cases focused on a single hypothetical performance-related
deficiency.
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Apr 12, 2024 | 
mondaq.com | Peter Altman |Michael Asaro |Charles Connolly |Brian Daly
On April 3, 2024, the U.S. Securities and Exchange Commission
(SEC) announced its first enforcement action against
a registered investment adviser (RIA) with no ties to a
broker-dealer regarding so-called "off-channel"
communications—that is, communications sent away from
firm-captured devices and/or firm-approved communications
platforms.
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Apr 12, 2024 | 
mondaq.com | Peter Altman |Michael Asaro |Brian Daly |Katherine Goldstein
On Friday, April 5, 2024, a San Francisco jury found the
defendant liable in SEC v. Panuwat, the closely watched
litigated enforcement action brought by the U.S. Securities and
Exchange Commission (SEC) relating to so-called "shadow
trading." The jury reached its verdict following an eight-day
trial and with less than three hours of deliberation.
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Apr 10, 2024 | 
jdsupra.com | Peter Altman |Michael Asaro |Brian Daly
On Friday, April 5, 2024, a San Francisco jury found the defendant liable in SEC v. Panuwat, the closely watched litigated enforcement action brought by the U.S. Securities and Exchange Commission (SEC) relating to so-called “shadow trading.” The jury reached its verdict following an eight-day trial and with less than three hours of deliberation.
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Apr 10, 2024 | 
jdsupra.com | Peter Altman |Michael Asaro |Charles Connolly
April 10, 2024 Peter Altman, Michael Asaro, James Joseph Benjamin Jr., Charles Connolly, Brian Daly, Jason Daniel, Anne Evans, Katherine Goldstein, Lance Jasper, Claudius Modesti, Parvin Daphne Moyne, Douglas Rappaport, Kaitlyn Tongalson, Jacqueline Yecies Akin Gump Strauss Hauer & Feld LLP + Follow x Following x Following - Unfollow Contact To embed, copy and paste the code into your website or blog: On April 3, 2024, the U.S. Securities and Exchange Commission (SEC) announced its first...
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Apr 8, 2024 | 
mondaq.com | Lance Jasper |Peter Altman |Michael Asaro |Jan-Paul Bruynes
In a thorough decision, a federal district judge in New York
largely denied Coinbase's motion for judgment on the pleadings
in a case brought by the SEC. Applying the plaintiff-friendly
standards required at the pleading stage, the court accepted the
SEC's factual allegations as true and concluded that the SEC
plausibly alleged that Coinbase violated the federal securities
laws through its involvement in crypto-asset transactions involving
investment contracts.
