The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a…
Preparing for the 2025 US Proxy & Annual Reporting Season
Webinar | Wednesday, December 11, 20241:00 p.m. – 2:00 p.m. ESTRegister here.
Join experts from Mayer Brown and Georgeson as they discuss key issues companies should consider while preparing for the 2025 proxy and annual report season during this
UPS Delivers A $45 Million Books And Records, Internal Controls Matter
The Foreign Corrupt Practices Act has always been a law much broader than its name suggests.
Sure, the FCPA contains anti-bribery provisions which concern foreign bribery.
Sure, the FCPA’s books and records and internal controls provisions can be implicated in
This Week In Securities Litigation (Week of November 25, 2024)
The Commission filed a series of new cases last week. The filings included an action based on cherry picking, one focused on international banking and bribery in violation of the FCPA, another centered on a manipulation scheme and a case
Rule 15c2-11 Relief for Fixed Income Securities
Broker-dealers had been preparing for the sunset of the prior time-based relief that the staff of the Securities and Exchange Commission provided in respect of compliance with Rule 15c2-11 as to certain fixed income securities, which expires on January 4, 2025.
SEC Announces Enforcement Results for Fiscal Year 2024
The Securities and Exchange Commission today announced that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history. The 583 enforcement actions…
More False FCPA Information
The amount of false Foreign Corrupt Practices Act information in the public domain is troubling.
Including by individuals who portray themselves as FCPA experts.
For instance, this post published on November 21st states: “The Justice Department’s record of FCPA enforcement
UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit
The Securities and Exchange Commission today announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst…
SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports
The Securities and Exchange Commission today announced that broker-dealers Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC have agreed to settle charges that they filed with law enforcement suspicious…
Adviser Operating Cherry Picking Scheme Makes over $1.8 million
Cherry picking is a long time focus of the Commission. In some senses, this practice may the be ultimate conflict of interest. It is based on an investment adviser placing a series of trades over the course of the trading