The U.S. District Court for the District of Massachusetts found an investment adviser liable for failing to disclose to its advisory clients material conflicts of interest with respect to a revenue sharing.
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A U.S. District Judge for the District of Connecticut reversed a jury verdict that found a former energy executive guilty of seven counts of violating the anti-bribery provisions of the Foreign Corrupt Practices Act.
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.
On August 24, 2018, the Second Circuit affirmed a lower Court's ruling that the Foreign Corrupt Practices Act does not apply to non-resident foreign nationals unless they were either physically present in the United States or acting as agents of a U.S. entity when they committed their crimes.
The U.S. District Court for the District of Columbia ordered two Ireland-based companies that operate an online "prediction market" trading website to pay a $3 million penalty for violating a 2005 cease and desist order and illegally trading binary options.