• Rare Supreme Court Victory for SEC

    In a ruling that will cheer the plaintiffs’ bar, the US Supreme Court in Lorenzo v. SEC  ruled that intentionally misleading investors was actionable even if the violator simply disseminated the misleading statements. The SEC found that...

    • Posted 2 months ago
    • 0
  • SEC Refinement: “Smaller Companies” Just Got Bigger

    The SEC has redefined “small reporting company” in a way that will significantly increase the number of public companies that qualify for less-extensive reporting rules. The SEC estimates that an additional 966 public companies will be eligible...

    • Posted 12 months ago
    • 0
  • For-Profit School Execs Settle Fraud Cases With SEC

    Two top executives of ITT Educational Services, the parent of defunct ITT Technical Institute, have settled for $200,000 and $100,000 respectively, thus avoiding a trial that was set to begin July 9. CEO Kevin Modany and former...

    • Posted 12 months ago
    • 0
  • Supreme Court Ruling Favors “Buckets of Money”

    According to a ruling by an SEC administrative law judge, Raymond J. Lucia and his namesake investment firm made misleading presentations to prospective clients about a retirement strategy the firm called “Buckets of Money.” A three-judge panel...

    • Posted 12 months ago
    • 0
  • Saved By the Whistle

    Last February the U.S. Supreme Court threw out an anti-retaliation suit brought by a former employee who was fired after reporting alleged securities violations. The Court ruled that because the employee reported the wrongdoing internally instead of...

    • Posted 1 year ago
    • 0
  • Big Awards For SEC Whistleblowers

    A whistleblower “whose information led to multiple successful enforcement actions” received a $2.1 million award on April 12. The SEC is required to protect the confidentiality of whistleblowers, but the person, described as “a former company insider,”...

    • Posted 1 year ago
    • 0
  • Congress, SEC, Moving On Cybersecurity

    One of the few bipartisan acts to be introduced in Congress recently is the Cybersecurity Disclosure Act of 2017-18 (S.536). It would require publicly traded companies to disclose the cybersecurity expertise of members of the board, and,...

    • Posted 1 year ago
    • 0
  • SEC Guidance Directed At Intel?

    Guidance the SEC issued Feb. 20 appears to be a direct response to Intel’s handling of the security breaches known as “Meltdown” and “Spectre,” according to the Portland Business Journal. The 24-page document says companies should tell...

    • Posted 1 year ago
    • 0
  • Husband Of Linklaters Attorney Snared In Insider Trading Case

    The man, an MIT researcher, is said by the SEC to have googled such terms “how sec detect unusual trade” and “insider trading in an international account” before carrying out trades that netted about $120K, based on...

    • Posted 2 years ago
    • 0
  • Tweet-Math Creates SEC Compliance Questions

    The SEC has issued guidance for companies that want to use twitter as a vehicle for making some kinds of public statements. The problem arises when the requirement for accompanying disclosures (aka a “legend”) regarding the importance...

    • Posted 5 years ago
    • 0
Do NOT follow this link or you will be banned from the site!