A U.S. District Court held that compliance communications are not protected by attorney-client privilege or the work-product doctrine, and that the SEC can force an investment advisor to produce documentation of such communications.
The U.S. Supreme Court found that an investment banker may be held legally responsible for disseminating statements that he knew to be false, even though he was not the "maker" of the false statements.
The U.S. District Court for the District of Connecticut ordered a former precious metals trader to pay a civil monetary penalty for placing orders with the intention of canceling them prior to execution.
The U.S. District Court for the Southern District of New York determined that the CFTC failed to prove that a Chicago trader and his firm had either manipulated or attempted to manipulate the price of certain interest rate swaps.
In denying a Motion for Preliminary Injunction, the U.S. District Court of the Southern District of California determined that the SEC failed to show that an initial coin offering satisfied the characteristics of a "security."
A U.S. District Court ruled in favor of the Board of Trade of the City of Chicago, Inc. and Chicago Mercantile Exchange, Inc. from allegations that they conspired to stop the CFTC from approving the application of a competing exchange.