Category: SEC enforcement
SEC Remains Focused on Disclosure of Cybersecurity Incidents
Recent Securities and Exchange Commission (SEC) enforcement action and statements by SEC officials show that the Commission remains focused on disclosures regarding cybersecurity incidents. On May 21, 2024, Erik Gerding, director of the SEC’s Division of Corporate Finance, issued a statement to clarify that public companies are only required to […]
Securities Litigation + Enforcement Highlights From Q4 2023
Closing out 2023, Cooley’s securities litigation + enforcement practice continued providing guidance to our clients on recent developments in securities law – with a particular focus during the fourth quarter on Securities and Exchange Commission (SEC) enforcement trends. Below is a roundup of key insights and developments from our team […]
Parallel SEC, FDA Regulatory Enforcement: What Life Sciences Companies Should Know
Life sciences companies, take note: While parallel enforcement by the Securities and Exchange Commission (SEC) and the Food and Drug Administration (FDA) is not new, it appears to be gaining favor among regulators. Cooley partners Luke Cadigan and Sonia Nath recently co-authored an article in the Food and Drug Law […]
SEC Announces FY23 Enforcement Results –Record-Breaking Whistleblower Awards, Focus on Individual Accountability, Self-Reporting, and Cooperation Credit
The Securities and Exchange Commission (SEC) recently announced its enforcement results for fiscal year 2023, which reported a total of 784 enforcement actions, up 3% from FY22. This includes 501 original (stand-alone) enforcement actions, an 8% increase from last year. The SEC also barred 133 individuals from serving as officers and […]
SEC Enforcement Director Discusses Priorities, Off-Channel Communications, Crypto and ESG
In his remarks at the 2023 Berkeley Fall Forum on Corporate Governance, GurbirGrewal, director of the Securities and Exchange Commission’s Division of Enforcement, discussed the SEC’s current enforcement priorities – including an investigative sweep related to the use of off-channel communications, regulation of cryptocurrencies, and developments in the area of […]
Securities Litigation + Enforcement Highlights for Q3 2023
Through the summer and into the fall of 2023, Cooley’s securities litigation + enforcement practice continued to provide our clients with thoughtful analysis on recent developments in securities law, while also obtaining key wins for them. Below, we’ve rounded up key insights and developments from our team over the past […]
SEC Focuses on Whistleblower Protections in Employee Separation Agreements
Recent Securities and Exchange Commission enforcement actions have zeroed in on whistleblower protections in employee separation agreements, signaling that now may be the time for companies to closely review employee agreements and releases. On September 29, 2023, the SEC announced settled charges against New York-based registered investment adviser D. E. […]
Securities Litigation + Enforcement Highlights From Q2 2023
As 2023 reached its midpoint, Cooley’s securities litigation + enforcement practice continued its track record of obtaining victories for clients while serving as thought leaders on issues impacting the securities litigation and enforcement landscape. Below, we’ve rounded up key insights and developments from our team over recent months.
Cornerstone Research Report Highlights Rise in SEC Accounting and Auditing Enforcement
According to a new report by Cornerstone Research (a leading consulting and expert testimony firm), the Securities and Exchange Commission initiated 55% more actions involving accounting and auditing enforcement in fiscal year 2022 than it did in FY 2021. The report examines recent trends in the SEC’s enforcement of accounting […]
DOJ Issues Further Guidance, Warnings on Ephemeral Messaging Apps
At the March 2023 American Bar Association National Institute on White Collar Crime, senior Department of Justice officials offered their most expansive guidance yet about the dangers of using ephemeral messaging for company communications. Officials noted that when conducting an investigation, DOJ prosecutors will consider a company’s use of ephemeral and […]