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."
News & Insights
The SEC Division of Investment Management declined a request to take a no-action position from a registered investment company that sought to exclude proxy materials on a shareholder proposal to "declassify" the Fund's Board.
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.
A dually registered broker-dealer/investment adviser agreed to pay $18 million for violating the whistleblower protections rule by requiring that clients sign release forms prior to receiving settlements.