FTI Law Discusses Accountability at the SEC Enforcement Division

By John Joy July 11, 2022 by renholding

Whistleblower Frances Haugen recently reported Facebook to the U.S. Securities and Exchange Commission (SEC) for allegedly fraudulent statements Facebook made to investors. Millions of people all over the world tuned in to hear Haugen testify before Congress about the wrongdoing …

Corporate Criminal Liability for ESG Initiatives Is on Its Way

By J.S. Nelson June 23, 2022 by renholding

The Securities and Exchange Commission (“SEC”) has signaled that it wants to increase enforcement against “greenwashing” – misrepresentation of a company’s environmental actions. It is not yet clear, though, whether these enforcement efforts will expand the risk of corporate criminal …

SEC Enforcement Chief Speaks on Delays of Defense Counsel

By Gurbir Grewal May 17, 2022 by renholding

Ordinarily at an event like this one, I’d speak about all the ways in which we are working to protect investors, including our increased focus on the private fund space, the additional resources we’ve committed to our Crypto Assets and …

The SEC’s September Enforcement Spike

By Dain C. Donelson, Matthew Kubic and Sara Toynbee March 23, 2022 by renholding

The Securities and Exchange Commission (SEC) periodically reports on its performance to the public and Congress, emphasizing metrics such as the number of enforcement actions (“cases”) filed (see, e.g., SEC, 2018, 2020). Former co-directors of the Division of Enforcement acknowledge …

SEC Announces Enforcement Results for FY 2021

By Securities and Exchange Commission November 19, 2021 by renholding

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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Regulating via Social Media: Deterrence Eﬀects of the SEC’s Use of Twitter

By Jinjie Lin November 17, 2021 by renholding

Social media is widely used to create, disseminate, and consume information. Today, around seven in 10 U.S. adults use social media.[1] Additionally, more than half of Americans at least occasionally obtain news through social media.[2] In financial markets, …

SEC Enforcement Chief Speaks on Regulation Outside the U.S.

By Gurbir Grewal November 10, 2021 by renholding

Good morning, everyone and thank you for inviting me to deliver the Scott Friestad Memorial Keynote address. I didn’t have the privilege of knowing Scott, but in my few months as Director, I’ve frequently heard his name, and I’ve noticed

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SEC Chair Gensler Speaks at Securities Enforcement Forum

By Gary Gensler November 5, 2021 by renholding

Thank you for having me here today. As is customary, I’d like to note that my views are my own, and I’m not speaking on behalf of the Commission or SEC staff.

In 1934, in his first speech as the

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SEC Chair Gensler Testifies Before Senate Committee on Banking, Housing, and Urban Affairs

By Gary Gensler September 16, 2021 by renholding

Good morning, Chairman Brown, Ranking Member Toomey, and members of the Committee. I’m honored to appear before you today for the first time as Chair of the Securities and Exchange Commission. I’d like to thank you for your support in …

Paul Weiss Discusses SEC Focus on Crypto Enforcement

By Jessica S. Carey, Roberto J. Gonzalez, David S. Huntington and Carly Lagrotteria August 18, 2021 by renholding

At the Aspen Security Forum on August 2, 2021, SEC Chair Gary Gensler reaffirmed the SEC’s heightened focus on cryptocurrency. Following these comments, the SEC announced two enforcement resolutions that provide further guidance on the SEC’s approach to crypto enforcement. …

Securities Regulation in Cryptoasset Markets: A Cost-Benefit Analysis

By Yuliya Guseva January 4, 2021 by renholding

Rapid technological innovation over the past five years has created unprecedented opportunities for entrepreneurs – often outside the world of traditional finance and capital markets. Cryptoassets, for example, may prove to be socially beneficial tools for enabling entrepreneurs to more …

SEC Enforcement Chief Discusses How the Division Is Responding During the Pandemic

By Steven R. Peikin May 13, 2020 by renholding

We are all too familiar with the many ways in which the COVID-19 pandemic has transformed our personal and professional lives over these last several months.[1] We are confronting new and serious personal challenges, all the while endeavoring to

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Commissioners Testify on SEC Oversight: Wall Street’s Cop on the Beat

By Jay Clayton September 26, 2019 by renholding

Chairwoman Waters, Ranking Member McHenry and Members of the Committee, thank you for the opportunity to testify before you today [September 24] about the work of the U.S. Securities and Exchange Commission (SEC or Commission or agency).[1]

Overview—The SEC’s

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Gibson Dunn Offers 2019 Mid-Year Securities Enforcement Update

By Mark K. Schonfeld and Amy Mayer July 24, 2019 by renholding

The first half of 2019 has seen a continuation of the Securities and Exchange Commission’s emphasis on protecting the interests of Main Street investors. Chairman Clayton reiterated these themes in his testimony in May before the Financial Services and General …

Gibson Dunn Offers 2018 Mid-Year Update on Securities Litigation

By Monica Loseman, Matt Kahn, Brian Lutz and Laura O’Boyle August 15, 2018 by renholding

The continued explosion in the number of securities class action filings is once again the big headline in our half yearly update. The now-sustained increase in both the number of filings and average and median settlement amounts—including a five-fold increase …

Gibson Dunn Offers Securities Enforcement Update for 2017

By Marc J. Fagel January 26, 2018 by renholding

2017 was the prototypical transition year for the SEC. In contrast to many other federal agencies under the current administration, the new SEC leadership did not promise a wholesale rethinking of the agency’s mandate. Rather, they seemed to signal minor …

IGNORANCE IS NOW BLISS: But What Can the Government Do?

By John C. Coffee, Jr. January 27, 2015 by ilyabeylin

United States. v. Newman[1] represents the most serious defeat for the DOJ and the SEC in their campaign against insider trading since Dirks v. SEC[2] in 1983. In both cases, mistakes were made, and the Government did not …

Burdens of Production and Persuasion on Price Impact After Halliburton II

By Wendy Gerwick Couture January 2, 2015 by ilyabeylin

The following post comes to us from Wendy Gerwick Couture, Associate Professor at the University of Idaho College of Law. It is based on her recent paper entitled “Answering Halliburton II’s Unanswered Question: Burdens of Production and Persuasion on Price …

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