On Aug. 15, 2024, a federal court dismissed a proposed class action against financial analysis website Seeking Alpha, Inc. (Seeking Alpha). The lawsuit was brought in July 2023
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SEC Collects $390 Million in Latest Crackdown on ‘Off-Channel’ Communications in the Financial Industry
In the latest installment of its ongoing “off-channel” communications sweep, on Aug. 14, 2024, the Securities and Exchange Commission announced settlements totaling $393 million with 26 investment advisers and brokers-dealers
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Reg BI Enforcement Intensifies: SEC Fines Western International Securities for Violating Care and Compliance Obligations
On July 30, 2024, the SEC announced it had reached a settlement agreement with Western, a dually registered investment adviser and broker-dealer providing investment advice and brokerage services to retail
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U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit unanimously vacated a rule the Securities and Exchange Commission (SEC) enacted in August 2023 that was intended to protect investors who invest in certain private funds and prevent fraud by the investment advisers to Private Funds.
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SEC Division of Examinations 2024 Priorities
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2024 examination priorities (Exam Priorities) in October. In 10 years of priority announcements, this is by far the
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Proposed Legislation Would Create a Tiered Exemption from Broker Registration
If enacted, the Unlocking Capital Act would establish two investment professional categories—private placement brokers and finders. The legislation would allow these professionals to engage in many activities that, due to
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SEC Finalizes Cyber Rules for Public Companies: What You Need to Know
On July 26, 2023, the Securities and Exchange Commission (SEC) adopted the long-awaited final rule requiring that public companies disclose information about cybersecurity incidents within four business days of determining
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FINRA Approves Prometheum Ember Capital LLC to Operate as Special Purpose Broker-Dealer for Digital Assets
On May 17, 2023, Prometheum Ember Capital LLC (Prometheum Ember Capital), a subsidiary of Prometheum Inc., received approval from the Financial Industry Regulatory Authority (FINRA) to
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Are Syndicated Term Loans Securities Under Reves v. Ernst & Young? 2nd Circuit Solicits SEC Views
A holding subjecting Term Loan Bs to securities regulation would have a profound effect on the $1.4 trillion market for syndicated term loans and on financial institutions at a time of limited liquidity.
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The 2023 Banking Crisis: Guidance for Private Investors Seeking to Acquire or Invest in Assets of Failed Insured Depository Institutions
This GT Alert provides a general overview for investors interested in acquiring or investing in the assets of failed depository institutions and requirements and restrictions applicable to private investors’ participation
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