By Mani Dabiri | Published June 22, 2018 | Posted in Civil Business Litigation and Investigations, Government Subpoenas and Investigations, Post-Conviction Defense and Appeals, White-Collar and Regulatory Defense | Tagged Tags: administrativehearings, bankingandfinance, businessandcommerce, dueprocess, licensingandregistration, SEC, securitiesandcommodities |
Buckets of Money
If you’ve lost a case against the SEC recently, and it was heard by an administrative law judge (or ALJ), you may want to call your lawyer. Yesterday, the U.S. Supreme Court sent back a case because the SEC hadn’t appointed the ALJ the way the Constitution required. The decision marked the culmination of years-long legal challenges to the Read More
Read MoreSCOTUS Says You Must Tell the SEC
Last week, the U.S. Supreme Court settled an important question for the SEC’s whistleblower program. That program awards you money for reporting corporate misdeeds to the Commission. It also protects you from retaliation because you can sue to recover your position, double your back pay, and accrued interest, legal fees, and litigation costs. Well, the Court said you Read More
Read MoreSEC Chair Offers Advice on Bitcoin and Its Ilk
This week, the chair of the U.S. Securities and Exchange Commission weighed in on crypto-currencies as well as ICOs or initial coin offerings. With the price of bitcoin nearing $20,000, it probably comes at the right time. You may have been wondering yourself: What are the rules for this stuff? Are they being followed? And what are the risks Read More
Read MoreWhite-Collar to Blue-Collar in One Day
Last week, the U.S. Supreme Court issued two notable decisions on the same day. One was a civil white-collar case, the other a criminal drug-trafficking case, and in both cases, the Court reversed the lower-court ruling on appeal. In the civil case, the Court imposed a five-year statute of limitations on SEC cases that seek to disgorge profits. That’s Read More
Read MoreSEC Lights Up Another Cannabis Company
In what may be a sign of maturity for the industry, the Securities and Exchange Commission has sued another marijuana-related business for violating federal securities laws. Last month, the SEC charged a California-based company and two former executives with a classic pump-and-dump scheme. First, the Commission says, the defendants touted phony revenue to drive up the price of the company’s stock. Read More
Read MoreSEC Reports Enforcement Results for 2016
As we wind down the calendar year, the Securities and Exchange Commission has already reported its enforcement results for the fiscal year that ended September 30. In case you missed it, here’s the press release. Naturally, there’s some self-patting on the back, but if the past predicts the future, the agency is looking to file cases. Its Read More
Read MoreThe SEC Dodd-Frank Whistleblower Program
Speaking of whistleblowers, the Securities and Exchange Commission just published its annual report to Congress on its own program that it launched in 2011. And overall, it seems to be on the upswing. The SEC’s program authorizes monetary awards for volunteering original information that results in a successful enforcement action, including sanctions that exceed $1 million. It Read More
Read MoreThe SEC’s Home-Court Advantage
As noted in a series of reports over the last year or so, the Securities and Exchange Commission has steadily been sending more of its cases, including contested cases, to be heard before its own, administrative judges rather than litigating them in federal court. The trend follows passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which amplified the Read More
Read MoreSEC Announces Its 2013 Enforcement Results in the Financial Markets
Here is a link to the Securities & Exchange Commission’s press release reporting its enforcement numbers for fiscal year 2013, which ran from October through September. Over that period last year, the agency filed 686 public lawsuits in the name of our capital markets, and it obtained a record $3.4 billion in monetary sanctions, like disgorgement of profits, including $3 billion from 169 people Read More
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