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Sep 27, 2024 | 
mondaq.com | Veronica E. Callahan |Ellen K. Fleishhacker |Michael Mancusi |Kevin Toomey
On August 28, 2024, the Financial Crimes Enforcement Network
(FinCEN) issued a final rule to add "investment
adviser" to the definition of "financial
institution" under the regulations implementing the Bank
Secrecy Act (BSA).
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Aug 29, 2024 | 
mondaq.com | Veronica E. Callahan |Daniel M. Hawke
The U.S. Supreme Court's recent 6‑3 ruling in
SEC v. Jarkesy eliminated the SEC's ability to use
contested administrative proceedings to seek civil monetary
penalties for anti-fraud violations of the securities laws. However, Jarkesy is only one of several landmark rulings
handed down by the U.S. Supreme Court this term. Most notably, the
Court's ruling in Loper Bright Enterprises v.
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Jul 4, 2024 | 
mondaq.com | Veronica E. Callahan |John Elwood |Daniel M. Hawke |Arthur Luk
In a term packed with landmark rulings, the U.S. Supreme Court
held that the Seventh Amendment to the U.S.
Constitution entitles a defendant to a jury trial when the U.S.
Securities and Exchange Commission (the SEC or the Commission)
charges securities fraud and seeks civil penalties pursuant to
Section 17(a) of the Securities Act of 1933, Section 10(b) of the
Securities Exchange Act of 1934, or Section 206 of the Investment
Advisers Act of 1940. See Securities & Exchange Commission
v.
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Jul 2, 2024 | 
arnoldporter.com | Veronica E. Callahan |John Elwood |Daniel M. Hawke |Arthur Luk
IntroductionIn a term packed with landmark rulings, the U.S. Supreme Court held that the Seventh Amendment to the U.S. Constitution entitles a defendant to a jury trial when the U.S. Securities and Exchange Commission (the SEC or the Commission) charges securities fraud and seeks civil penalties pursuant to Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, or Section 206 of the Investment Advisers Act of 1940.
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May 30, 2024 | 
mondaq.com | Veronica E. Callahan |Daniel M. Hawke |Jane Norberg |Kathleen Reilly
The annual ALI-CLE Accountants' Liability
Conference took place in Washington, D.C. from May 16-17, 2024. Veronica Callahan, partner and Chair of the Securities Enforcement
and Litigation practice group at Arnold & Porter, co-hosted the
conference with Junaid Zubairi, Chair of Vedder Price PC's
Government Investigations and White Collar Defense practice.
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May 30, 2024 | 
pelawreport.com | Veronica E. Callahan |Daniel M. Hawke
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May 28, 2024 | 
arnoldporter.com | Veronica E. Callahan |Daniel M. Hawke |Jane Norberg |Kathleen Reilly
The annual ALI-CLE Accountants’ Liability Conference took place in Washington, D.C. from May 16-17, 2024. Veronica Callahan, partner and Chair of the Securities Enforcement and Litigation practice group at Arnold & Porter, co-hosted the conference with Junaid Zubairi, Chair of Vedder Price PC’s Government Investigations and White Collar Defense practice.
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May 24, 2024 | 
mondaq.com | Veronica E. Callahan |Michael Mancusi |Kevin Toomey |Christopher Allen
On May 13, 2024, the U.S. Securities and Exchange Commission
(SEC) and U.S. Department of the Treasury's Financial Crimes
Enforcement Network (FinCEN) published a joint notice of proposed rulemaking (Joint
NPRM) that would require certain investment advisers to establish,
document, and maintain a written customer identification program
(CIP), with verification procedures that will allow the investment
advisers to form a reasonable belief as to the true identity of
their customers.
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May 22, 2024 | 
arnoldporter.com | Veronica E. Callahan |Michael Mancusi |Kevin Toomey |Christopher Allen
On May 13, 2024, the U.S. Securities and Exchange Commission (SEC) and U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a joint notice of proposed rulemaking (Joint NPRM) that would require certain investment advisers to establish, document, and maintain a written customer identification program (CIP), with verification procedures that will allow the investment advisers to form a reasonable belief as to the true identity of their customers.
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Apr 22, 2024 | 
mondaq.com | Veronica E. Callahan |Joel Greenberg |Andrew Johnson |Arthur Luk
On Friday, April 12, 2024, a unanimous U.S. Supreme Court ruled in Macquarie
Infrastructure Corporation v. Moab Partners, L.P., 601 U.S.
___ (2024), that a "pure omission" based on a failure to
disclose information required by Item 303 of Regulation S-K (Item
303) in periodic filings with the U.S. Securities & Exchange
Commission (SEC), is not actionable under Section 10(b) of the
Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5(b).
