The SEC was sanctioned for presenting false and misleading evidence in obtaining a temporary restraining order and asset freeze against a crypto firm. Judge Robert J. Shelby delivered the ruling, calling the SEC's actions toward the crypto firm a "gross abuse of power."
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An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
New York Attorney General Letitia James sued a bank for failing to (i) protect victims of electronic fraud and (ii) reimburse their losses.
In yesterday's newsletter, we identified two CFTC Advisories as newly updated guidance on cooperation that can affect civil monetary penalties in enforcement actions. The updates are current, but they are not new.
The CFTC Division of Enforcement issued guidance as to the standard by which it assesses a firm's level of cooperation with enforcement investigations.