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National Law Journal

SEC Penalizes Wells Fargo, LPL Financial $900,000 Each for Inaccurate Trading Data

Both companies have made efforts to improving their blue sheet data reporting by hiring more personnel, implementing new governance frameworks and strengthening reporting technology, the U.S. Securities and Exchange Commission stated.
3 minute read

New York Law Journal

Ernst & Young Hid Client's Inflated Revenues, Investors Claim

The investors say that with Ernst & Young's "critical" support, Brooge Petroleum and Gas Investment Company FZE was able to inflate its revenue by tens of millions of dollars between 2018 and 2020.
3 minute read

Law.com

US Judge Dismisses Securities Litigation Against Insurance Underwriter

U.S. District Judge Lewis Kaplan granted Argo Group's motion to dismiss for failure to state a claim where relief can be granted. Argo was represented by a team of Skadden attorneys.
2 minute read

New York Law Journal

What to Expect in the Securities Enforcement Space in 2025

Even in areas in which enforcement is likely to substantially diminish—such as crypto or environmental, social, and governance (ESG) disclosures—the SEC will likely still have interest when there are concrete allegations of fraud or investor harm. One notable change, however, is that the SEC may be less likely to support enforcement based on technical violations of the federal securities laws that lack intentionality or specific underlying harm.
12 minute read

National Law Journal

Senate Panel Postpones Vote on Reconfirmation of Democrat Crenshaw to SEC

Absent Crenshaw's reconfirmation, Trump would be able to nominate her successor. That selection would have to be a Democrat as the five-member SEC may have no more than three Republican commissioners during a GOP presidential administration.
3 minute read

National Law Journal

High Court Drops Case Over Nvidia's Effort to Ditch Fraud Suit

The justices said the review was "improvidently granted" in a short order issued Wednesday. Some lawyers say the high court may be a missed chance for the justices to articulate clear pleading standards under the Private Securities Litigation Reform Act.
4 minute read

New York Law Journal

A New Era of Enforcement on 10b5-1 Trading Plans: Implications of United States v. Peizer

The authors write "This past June the U.S. Department of Justice (DOJ) secured its first insider trading conviction relating to the defendant’s use of a Rule 10b5-1 trading plan. The jury’s verdict in United States v. Peizer marks a major milestone in securities law enforcement. In particular, the Peizer case puts pressure on the defense that 10b5-1 plans provided corporate insiders. Separately, the verdict suggests a new era of enforcement priorities and tactics, and provides instructive insights for practitioners and professionals."
8 minute read

National Law Journal

Atkins Likely to Bring Pro-Business, Light Regulatory Touch to SEC, Say Agency Observers

In 2015 testimony to Congress, Atkins criticized Dodd-Frank for ceding too much authority to regulators, adding that the law will mean that “government, and not the markets, will choose the winners and losers.”
4 minute read

The American Lawyer

Gibson Dunn Adds Senior SEC Enforcement Official

Osman Nawaz spent more than 14 years at the SEC before joining Gibson Dunn as a partner.
2 minute read

National Law Journal

Peirce, Crypto Lawyers Eye Potential Regulatory Changes Under SEC Chair-Nominee Atkins

“I do look forward to providing more clarity where we can provide more clarity ... remembering that we're a regulatory agency with an enforcement arm, not an enforcement agency that doesn't have a regulatory arm,” said Republican Securities and Exchange Commissioner Hester Peirce.
4 minute read

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