Tag Archives: securities

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

EY Appeals Hong Kong Court Order To Produce Audit Working Papers Notwithstanding Holding That EY ‘Deliberately Withheld From SFC’ and State Secrets Not at Issue

More than a year ago, we began following the so-called Ernst &Young (“EY”) State Secrets Case in Hong Kong.  On 23 May 2014, the High Court of Hong Kong finally concluded that there was no “reasonable excuse” for EY’s failure to comply with Securities and Futures Commission (“SFC”) notices seeking information and documents, and that … Continue Reading

The Lawman Cometh: The SEC Adds Deferred Prosecution Agreements to Its Bag of Remedies

This post was written by Terence Healy. Last week the Securities and Exchange Commission (“SEC”) announced it had entered into its first deferred prosecution agreement (“DPA”) with an individual.  The announcement is interesting for two reasons.  It reflects the increasing tone of law enforcement the Commission is taking in its enforcement proceedings, and it raises the … Continue Reading

“Know Your Customer” No More? The SEC Signals a Uniform Fiduciary Standard May Be Coming for Broker-Dealers and Investment Advisers

This post was written by Terence Healy and Daniel Herbst. On March 1, 2013, the Securities and Exchange Commission (“SEC”) published a sweeping request for comments that may determine whether a uniform fiduciary standard will be required for all broker-dealers and investment advisers providing services to retail customers. Under the present regime, registered investment advisers … Continue Reading

Market Abuse and the May 6th “Flash Crash”: The SEC Expands its Enforcement Focus

This post was written by Amy Greer. Recently, I had the opportunity to moderate a panel hosted by the Pennsylvania Bar Institute on which Daniel M. Hawke, the Chief of the SEC’s new Market Abuse Unit and Regional Director of the SEC’s office in Philadelphia, participated. Dan and I worked together for several years, while … Continue Reading
LexBlog