Deterrence
SEC Brings Enforcement Action Against Global Brokerage Company, Finding False and Misleading Statements In Connection With Non-GAAP Financial MeasuresTask Force Led By Preet Bharara and Cleary Gottlieb’s Joon H. Kim Issues Report Recommending Reforms to Insider Trading LawIRS Issues Guidance on Deductibility of Settlement Payments Under New Law
FinTech
DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Takes Aim at Crypto Lending in BlockFi Settlement; Calls on Market to “Come into Compliance”: Is Regulatory Clarity Coming Soon?Priorities, Trends and Developments in Enforcement and Compliance
ICOs
SEC Issues Enforcement Action Against Unikrn, Inc. for its ICO, Prompting Rare Public Dissent from Commissioner Hester PeirceSEC Files First Suit Against Alleged Unregistered Broker-Dealer Operating in Digital Asset MarketsSEC Issues First ICO Enforcement Action Against a Self-Reporting Token Issuer
SEC Developments
SEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden CostsSEC Imposes Penalties and Sweeping Independent Consultant on CohnReznick for Alleged Audit Failures in Case Underscoring SEC’s Focus on “Gatekeepers”SEC Accounting Enforcement Action Signals Heightened Focus on Individual Accountability and Puts Public Company Executives on Notice for Potential SOX 304 Reimbursement
United States
DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden CostsSEC Imposes Penalties and Sweeping Independent Consultant on CohnReznick for Alleged Audit Failures in Case Underscoring SEC’s Focus on “Gatekeepers”
Virtual Currency
DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Takes Aim at Crypto Lending in BlockFi Settlement; Calls on Market to “Come into Compliance”: Is Regulatory Clarity Coming Soon?Taxes: Stepping up Enforcement and Ending the Global “Race to the Bottom”
whistleblower
From Government Shutdown to COVID-19: SEC Enforcement Division Releases Final Chapter of Jay Clayton-led SECTask Force Led By Preet Bharara and Cleary Gottlieb’s Joon H. Kim Issues Report Recommending Reforms to Insider Trading LawCFTC Issues First Whistleblower Award Originating From Both a Related Action and a Company Outsider