Criminal Enforcement
Department of Justice Announces Revisions to Criminal Division PoliciesDOJ and SEC Charge Healthcare Executive With Insider Trading Through a Rule 10b5-1 Trading Plan, Marking DOJ’s First Such IndictmentSecond Circuit Decision Limits the Ability to Prosecute Instances of Trading on Confidential Government Information
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
DOJ
U.S. Attorney’s Offices Issue Nationwide Corporate Voluntary Self-Disclosure PolicySecond Circuit Decision Limits the Ability to Prosecute Instances of Trading on Confidential Government InformationDOJ Concedes Error In Title 18 Insider Trading Convictions After Supreme Court’s “Bridgegate” Decision
DOJ Developments
U.S. District Court Tosses FIFA Bribery Convictions, Finding Honest Services Statute Does Not Reach Foreign Commercial BriberyDOJ, Commerce, and Treasury Issue Advisory on Voluntary Self-Disclosure PoliciesSEC and DOJ Charge Employee of Digital Asset Trading Platform and His Associates With Alleged Insider Trading in Digital Assets
Financial Institutions
SEC Proposes Rules Limiting the Use of Artificial Intelligence by Registered Investment Advisers and Broker-DealersManaging U.S. Enforcement and Civil Risks Relating to ESG Issues: GreenwashingFinCEN Proposes Rule Regarding Access to Beneficial Ownership Information under the Corporate Transparency Act
FinTech
FDIC Continues Rulemakings Related to Misrepresentation in Advertising: Digital Asset Businesses Still in the CrosshairsOFAC and FinCEN Announce Joint Enforcement Action Against U.S.-Based Digital Asset ExchangeFDIC Issues Cease and Desist Letters to Companies for Crypto-Related Representations About Deposit Insurance
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
Latin America
DOJ Provides Updates on FCPA and Corporate Criminal Enforcement Trends at International Conference on the FCPAU.S. Department of Justice Announces Changes to Corporate Criminal Enforcement PoliciesSecond Circuit Upholds District Court’s Rejection of DOJ Attempt to Expand Extraterritorial Reach of FCPA Through Agency Liability
SEC Developments
Fund Rules Dampened, Not Defanged: SEC’s final private fund rules drop proposed bans on certain activities, but still have bite.SEC Releases Slate of Enforcement Actions Against Advisers Related to Custody Rule Violations and Form ADV DeficienciesSEC and DOJ Charge Employee of Digital Asset Trading Platform and His Associates With Alleged Insider Trading in Digital Assets
Virtual Currency
FDIC Continues Rulemakings Related to Misrepresentation in Advertising: Digital Asset Businesses Still in the CrosshairsOFAC and FinCEN Announce Joint Enforcement Action Against U.S.-Based Digital Asset ExchangeSEC and DOJ Charge Employee of Digital Asset Trading Platform and His Associates With Alleged Insider Trading in Digital Assets