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Stop the Presses! The Fifth Circuit Vacates the DOL Fiduciary Rule

Posted by - April 18, 2018
The Fifth Circuit Vacates the DOL Fiduciary Rule On March 15, 2018, the U.S. Court of Appeals for the Fifth Circuit, in a 2-1 decision,1 vacated the U.S. Department of Labor’s (DOL) Fiduciary Rule. The Fifth Circuit found that the DOL overstepped its authority and acted unreasonably by enacting the Fiduciary…
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The SEC’s Latest on Disclosures

Posted by - April 17, 2018
New Guidance Mandates Greater Attention to Cybersecurity Planning The SEC’s recently issued guidance is just the latest indication that government regulators want companies to improve both their overall cybersecurity and incident response and notification procedures. Businesses must adopt and maintain the types of systems and procedures described in the guidance…
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Regulators Catching Up with the Crypto Craze

Posted by - April 13, 2018
The Risk to Investors Despite the proliferation of Bitcoin and other cryptocurrencies, financial regulators have been slow to introduce rules to govern them. Cordium’s Jesse Brown surveys the current state of regulation regarding investment in cryptocurrencies and ICOs and discusses the compliance considerations investors should make before pursuing investments in…
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New SEC Guidance Prioritizes Cybersecurity Disclosures for Public Companies

Posted by - April 6, 2018
The Case for a Risk-Based Approach New SEC rulings on cybersecurity disclosures for public companies went into effect just a month ago, acknowledging the rapidly evolving nature of cybersecurity threats and the increasing sophistication of attacks, including the use of stolen credentials, malware, ransomware and phishing. The overwhelming number of corporate breaches…
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Retaliation? Tell It to the SEC

Posted by - April 3, 2018
Implications for Compliance Program from the Digital Realty Ruling The Supreme Court ruled recently on the Digital Realty v. Somers case, and the decision is significant from a compliance standpoint; potential informants are incentivized to report directly to the SEC rather than through internal channels. Peter Rasmussen of Bloomberg Law…
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SEC & FINRA: 4 Shared Regulatory Priorities

Posted by - March 19, 2018
Where Firms Should Concentrate Compliance Efforts In the past few months, both the SEC and FINRA issued guidance concerning their regulatory priorities for the coming year. Both of the agency’s annual priorities letters address a large number of diverse topics. Experts from Baker Donelson discuss where the SEC’s and FINRA’s concerns…
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FINRA’s Top 6 Concerns in 2018

Posted by - March 14, 2018
Priorities Letter Outlines Areas of Focus Each year, the Financial Industry Regulatory Authority (FINRA) shares its regulatory and examination priorities for the coming year, highlighting both new and continuing areas of focus. In this post, experts from Venable LLP provide an overview of the most significant areas addressed in the…
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The Top 10 Regulatory and Litigation Risks

Posted by - February 20, 2018
Key Concerns for Private Funds in 2018 with co-authors Joshua M. Newville, Michael R. Hackett, Anthony Drenzek, William Dalsen, Alexandra V. Bargoot, Brian Hooven and Lucy Wolf With the public equity markets at an all-time high and private equity fundraising setting new records, it might seem counterintuitive to forecast litigation and regulatory risks. The opposite is true. Disputes…
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The Trump Effect on FCPA Enforcement

Posted by - October 24, 2017
As U.S. Enforcement Lags, International Attention to Domestic Corruption Takes a Front Seat Despite assurances from senior DOJ officials that the U.S. would maintain robust enforcement of the FCPA, enforcement has waned in the first eight months of the Trump presidency, with the DOJ and SEC combined announcing only four…
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Good News for Whistleblowers

Posted by - October 10, 2017
SEC Issues Statement on Cybersecurity High-profile data breaches seem to come fast and frequently these days. Last month, the Securities and Exchange Commission revealed it was the target of a cyberattack through which the criminals gained access to nonpublic information. With the announcement, the SEC declared its renewed focus on…
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How Counsel Relationships Can Increase Scrutiny

Posted by - October 3, 2017
Rethinking Independence in Internal Investigations Demonstrating and ensuring independence in internal investigations is a critical issue for corporate counsel to consider, especially when facing or anticipating parallel regulatory probes. How to properly do so is a nuanced process: as this piece explores, it is not as simple as the binary…
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OCIE Releases Cybersecurity Risk Alert

Posted by - October 2, 2017
Firms Falling Short on Preparedness As a part of a cybersecurity initiative, the SEC’s Office of Compliance Inspections and Examinations (OCIE) recently performed examinations of 75 firms to assess industry practices and compliance issues associated with cybersecurity preparedness. The exams revealed systemic failures. The results are summarized in a Risk…