Back in July, a former product manager at Coinbase Global Inc. was arrested for allegedly providing insider information to help his brother and a friend purchase crypto tokens before they were listed on the Coinbase exchange. Now the Department of Justice (DOJ) has...
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What Might Remediation Involve When a Firm Confronts an SEC Investigation?
An SEC investigation is never a welcome turn of events, but wise choices can mitigate the damage an investigation may have on your firm. One strategy for reducing the overall expense and liability is to engage in remediation efforts, as one Silicon Valley company...
Does My Firm Have an Effective AML Compliance Program?
The Financial Industry Regulatory Authority (FINRA) does more than just oversee broker-dealers in the United States. FINRA can also issue fines and suspensions, as well as bar individuals from the brokerage industry. One way that FINRA determines whether there is an...
Talking About Securities On Social Media Can Prove Costly
In yet another episode in the ongoing battle between the SEC and billionaire Elon Musk, a federal judge has rejected Musk's bid to have a settlement thrown out arising from a tweet he posted in 2018. The parties reached the settlement after Musk tweeted a message...
FINRA Sheds New Light on Potential CCO Liability
Chief compliance officers (CCOs) play a critical role in helping broker-dealers avoid regulatory oversights and promote the overall integrity of the market. However, CCOs are obviously not the only parties who could be on the hook for regulatory violations at a...
SEC Targets Auditor Conflicts of Interest
An independent auditor must remain free from conflicts of interest that could give the auditor a personal stake in the company they are auditing. This concept is at the heart of a probe being conducted by investigators from the Securities and Exchange Commission...
Avoiding SEC Communication Violations in the Digital Age
Broker-dealers and employees of publicly traded companies must be careful about how they communicate regarding securities trades. Under SEC Books and Records Rules, people in such positions are required to preserve comprehensive records regarding the purchase and sale...
Pharma Giant Settles with Shareholders Over Price-Fixing Allegations
Multinational generic pharmaceutical giant Teva reached a $420 million settlement with shareholders who claimed the company hid a price-fixing scheme and artificially inflated share prices. According to the suit, filed in federal court in Connecticut, the price-fixing...
SEC Proposes New Rules Aimed at Securities-Based Swaps
Anyone who holds a large position in a securities-based swap should be aware of new rules proposed by the Securities and Exchange Commission (SEC). The proposed rules aim to prevent fraudulent, manipulative and deceptive activity with regard to securities-based swaps....
Heightened Crypto Enforcement Signaled by Multiple Federal Agencies
For years now, legislative inaction has given rise to jurisdictional ambiguities in the regulation of cryptocurrencies and decentralized finance (DeFi). Multiple regulatory agencies — most notably the U.S. Securities and Exchange Commission (SEC) and U.S. Commodity...