SEC Announces Enforcement Results for Fiscal Year 2024

By Securities and Exchange Commission November 25, 2024 by Securities and Exchange Commission

The Securities and Exchange Commission announced on November 22 that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history.

The 583 enforcement actions represent

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SEC Hits Dozens of Firms With $390 Million Penalty for Recordkeeping Failures

By Securities and Exchange Commission August 16, 2024 by Securities and Exchange Commission

The Securities and Exchange Commission on August 14 announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications.

The firms

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SEC Announces Enforcement Results for Fiscal Year 2023

By Securities and Exchange Commission November 15, 2023 by Securities and Exchange Commission

The Securities and Exchange Commission announced that it filed 784 total enforcement actions in fiscal year 2023, a 3 percent increase over fiscal year 2022, including 501 original, or “stand-alone,” enforcement actions, an 8 percent increase over the prior fiscal …

SEC Announces Enforcement Results for FY 2022

By Securities and Exchange Commission November 16, 2022 by Securities and Exchange Commission

The Securities and Exchange Commission today [November 15] announced that it filed 760 total enforcement actions in fiscal year 2022, a 9 percent increase over the prior year. These included 462 new, or “stand alone,” enforcement actions, a 6.5 percent …

SEC Says “Control Deficiency” Gave Enforcement Staff Access to Privileged Documents

By Securities and Exchange Commission April 7, 2022 by Securities and Exchange Commission

The Commission has identified a control deficiency related to the separation of its enforcement and adjudicatory functions within its system for administrative adjudications. When this deficiency was identified, the Chair immediately notified the other Commissioners and directed the staff to

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SEC Staff Discusses Key Considerations on LIBOR Transition

By Securities and Exchange Commission December 8, 2021 by Securities and Exchange Commission

[1]This statement is being issued to remind investment professionals of their obligations when recommending LIBOR-linked securities and to remind companies and issuers of asset-backed securities of their disclosure obligations related to the LIBOR transition.[2] This statement follows previous

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SEC Announces Enforcement Results for FY 2021

By Securities and Exchange Commission November 19, 2021 by Securities and Exchange Commission

The Securities and Exchange Commission today [November 18] announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least

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SEC Clarifies Investment Advisers’ Proxy Voting Responsibilities

By Securities and Exchange Commission August 22, 2019 by Securities and Exchange Commission

The Securities and Exchange Commission today provided guidance [rules available here] to assist investment advisers in fulfilling their proxy voting responsibilities. The guidance discusses, among other matters, the ability of investment advisers to establish a variety of different voting arrangements

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SEC Staff Offers Views on the Transition from LIBOR

By Securities and Exchange Commission July 16, 2019 by Securities and Exchange Commission

Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant[1]

LIBOR[2] is an indicative measure of the average interest rate at which major global banks could borrow from one

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SEC Proposes Change to Margin Rules on Security Futures

By Securities and Exchange Commission July 4, 2019 by Securities and Exchange Commission

The Securities and Exchange Commission (SEC) announced today that it has proposed to align the minimum margin required on security futures with other similar financial products. The proposal—which, if the CFTC votes in favor of, would be a joint

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SEC Adopts New Rules on Relationship Between Retail Investors and Financial Professionals

By Securities and Exchange Commission June 6, 2019 by Securities and Exchange Commission

The Securities and Exchange Commission today [June 5, 2019] voted to adopt a package of rulemakings and interpretations designed to enhance the quality and transparency of retail investors’ relationships with investment advisers and broker-dealers, bringing the legal requirements and mandated …

SEC Offers Framework for “Investment Contract” Analysis of Digital Assets

By Securities and Exchange Commission April 8, 2019 by Securities and Exchange Commission

If you are considering[1] an Initial Coin Offering, sometimes referred to as an “ICO,” or otherwise engaging in the offer, sale, or distribution of a digital asset,[2] you need to consider whether the U.S. federal securities laws apply.

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SEC Divisions Set Forth Views on Issuing and Trading Digital Asset Securities

By Securities and Exchange Commission November 21, 2018 by Securities and Exchange Commission

In recent years, we have seen significant advances in technologies – including blockchain and other distributed ledger technologies – that impact our securities markets. This statement[1] highlights several recent Commission enforcement actions involving the intersection of long-standing applications of …

SEC Proposes Changes to Whistleblower Rule

By Securities and Exchange Commission June 29, 2018 by Securities and Exchange Commission

The Securities and Exchange Commission voted on June 28, 2018, to propose amendments to the rules governing its whistleblower program. The whistleblower program was established in 2010 to incentivize individuals to report high-quality tips to the Commission and help the

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SEC Adopts New Requirements on Using XBRL Reporting Language for Financial Statements

By Securities and Exchange Commission June 29, 2018 by Securities and Exchange Commission

The Securities and Exchange Commission voted on June 28, 2018, to adopt amendments to eXtensible Business Reporting Language (XBRL) requirements for operating companies and funds. The amendments are intended to improve the quality and accessibility of XBRL data.

The amendments,

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SEC Updates Definition of “Smaller Reporting Companies”

By Securities and Exchange Commission June 29, 2018 by Securities and Exchange Commission

The Securities and Exchange Commission voted on June 28, 2018, to adopt amendments to the “smaller reporting company” (SRC) definition to expand the number of companies that qualify for certain existing scaled disclosure accommodations.

“I want our public capital markets

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SEC Proposes New Approval Process for Exchange Traded Funds

By Securities and Exchange Commission June 29, 2018 by Securities and Exchange Commission

The Securities and Exchange Commission voted on June 28, 2018, to propose a new rule and form amendments intended to modernize the regulatory framework for exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of

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SEC Adopts Changes to Disclosure of Funds’ Liquidity Risk

By Securities and Exchange Commission June 29, 2018 by Securities and Exchange Commission

The Securities and Exchange Commission on June 28, 2018, adopted amendments to public liquidity-related disclosure requirements for certain open-end funds. Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity

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SEC Announces Chair Mary Jo White’s Departure Plans

By Securities and Exchange Commission November 15, 2016 by Securities and Exchange Commission

Securities and Exchange Commission Chair Mary Jo White, after nearly four years as the agency’s head, today announced that she intends to leave at the end of the Obama Administration. Under Chair White’s leadership, the Commission strengthened protections for investors …

SEC Announces Enforcement Results for 2016

By Securities and Exchange Commission October 13, 2016 by Securities and Exchange Commission

The Securities and Exchange Commission announced on October 11 that, in fiscal year 2016, it filed 868 enforcement actions exposing financial reporting-related misconduct by companies and their executives and misconduct by registrants and gatekeepers, as the agency continued to enhance …

The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

Securities and Exchange Commission

SEC Announces Enforcement Results for Fiscal Year 2024

SEC Hits Dozens of Firms With $390 Million Penalty for Recordkeeping Failures

SEC Announces Enforcement Results for Fiscal Year 2023

SEC Announces Enforcement Results for FY 2022

SEC Says “Control Deficiency” Gave Enforcement Staff Access to Privileged Documents

SEC Staff Discusses Key Considerations on LIBOR Transition

SEC Announces Enforcement Results for FY 2021

SEC Clarifies Investment Advisers’ Proxy Voting Responsibilities

SEC Staff Offers Views on the Transition from LIBOR

SEC Proposes Change to Margin Rules on Security Futures

SEC Adopts New Rules on Relationship Between Retail Investors and Financial Professionals

SEC Offers Framework for “Investment Contract” Analysis of Digital Assets

SEC Divisions Set Forth Views on Issuing and Trading Digital Asset Securities

SEC Proposes Changes to Whistleblower Rule

SEC Adopts New Requirements on Using XBRL Reporting Language for Financial Statements

SEC Updates Definition of “Smaller Reporting Companies”

SEC Proposes New Approval Process for Exchange Traded Funds

SEC Adopts Changes to Disclosure of Funds’ Liquidity Risk

SEC Announces Chair Mary Jo White’s Departure Plans

SEC Announces Enforcement Results for 2016