Journal of Investment Compliance: Volume 20 Issue 2

SEC adopts rules to modernize and simplify disclosure

Laura D. Richman, David S. Bakst, Robert F. Gray, Michael L. Hermsen, Anna T. Pinedo, David A. Schuette

To describe the modernization and simplification amendments of certain disclosure requirements of Regulation S-K and related rules and forms recently adopted by the US Securities…

A failure to supervise: the SEC casts a shadow over internal investigations

John P. Nowak, Thomas A. Zaccaro, Katherine K. Solomon

The purpose of this article is to highlight a recent settlement by the United States Securities and Exchange Commission (the “SEC”) in which it alleged that a regulated entity…

SEC credits self-reporting and cooperation in not imposing penalty on ICO sponsor

Daniel Hawke

To explain a February 20, 2019 US Securities and Exchange Commission (SEC) settled enforcement action against Gladius Network LLC for failing to register an initial coin offering…

SEC approves amendments to the NYSE’s substantial stockholder issuance rule and 20 per cent rule for shareholder approval of certain private offerings

Justin Hoffman, Jude Dworaczyk

To explain recent amendments by the US Securities and Exchange Commission (the SEC) to Sections 312.03(b) relating to issuances of securities to substantial stockholders (the…

2018 SEC enforcement actions reinforce the importance of effective supervision, policies, and procedures for broker-dealers and investment advisers

Alec Koch, Russell G. Ryan, Laura K. Bennett

To provide analysis on several SEC enforcement actions of interest to broker-dealers and investment advisers.

SEC issues landmark order rejecting Nasdaq and NYSE Arca market data fee increases

James Brigagliano, W. Hardy Callcott, Michael Warden

To explain an October 16, 2018 US Securities and Exchange Commission order that unanimously upheld a SIFMA challenge to fee increases for “depth-of-book” market data filed by…

UK Cryptoassets Taskforce publishes its final report

Sam Maxson, Stuart Davis, Rob Moulton

To analyse the final report of the UK Cryptoassets Taskforce published in October 2018 and discuss the UK’s policy and regulatory approach to crypto-assets and distributed ledger…

SEC issues warning to analysts profiting from “short and distort” schemes, opens the door for civil claims

Perrie Michael Weiner, Edward D. Totino, Aaron Goodman

To analyze the evolution of market manipulation and fraud by short-sellers and online bloggers and mechanisms available for addressing and remediating the damage caused by such…

Virtual currency in sanctioned jurisdictions: stepping outside of SWIFT

Katherine Kirkpatrick, Christine Savage, Russell Johnston, Matthew Hanson

To understand and analyze sanctions evasion and enforcement via virtual currencies.

Lorenzo v. SEC: the supreme court rules on scheme liability under the federal securities laws

Susan Hurd, Mel Gworek, Evan Glustrom

To analyze the impact of the Supreme Court’s decision in Lorenzo v. SEC.