Archives: Financial Regulatory

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Lorenzo v. SEC restores primary liability for misstatements

Last week, the U.S. Supreme Court decided Lorenzo v. SEC, determining that a person who knowingly disseminates a misstatement about a security can be primarily liable under the antifraud provisions of the federal securities laws. This significant holding opens the door for the SEC and private plaintiffs to charge misstatement cases as scheme cases, and … Continue Reading

CFTC signals intention to focus on foreign corrupt practices investigations

On March 6, 2019, the U.S. Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) Enforcement Division published an advisory (the “Advisory”) which discussed the implications of self-reporting and cooperation for violations of the Commodity Exchange Act (“CEA”) that involve foreign corrupt practices. The Advisory marks the first time the CFTC has expressed its intention to … Continue Reading

Blockchain Technology and Securities Markets are the Focus of Recent SEC Investor Advisory Committee Meeting

On October 12, 2017, the U.S. Securities and Exchange Committee (“SEC”) held an Investor Advisory Committee (“IAC”) meeting which largely focused on blockchain technology and the implications for securities markets.  Based on the discussion at this meeting, the SEC is currently considering both the merits and risks linked to blockchain technology. Several IAC members in … Continue Reading

Blockchain-Related Companies Facing Increased Scrutiny from the SEC

Digital tokens, which used to be considered an unregulated “wild west”, are now facing Federal and State regulations. Over two weeks, the SEC suspended trading in company securities of three publicly-traded blockchain-related businesses.  The SEC followed up the suspensions with releasing an Investor Alert advising investors to be cautious of companies that have been subject … Continue Reading

Overview of 2016 French Financial Regulations

The ACPR and AMF, French financial regulators, focused on anti-money laundering and anti-terrorism, internal control procedures, conflicts of interest and market abuse infringements in 2016.  While the focus may have shifted, financial sanctions made up 90% of the penalties in 2016.  In fact, financial regulators’ powers of sanction have drastically broadened over the last decade … Continue Reading
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