Capital Markets

  • November 06, 2024

    FINRA Fines Firm Over Lax Real Estate Investment Diligence

    The Financial Industry Regulatory Authority ordered broker-dealer XP to pay $800,000 in restitution and penalties to settle claims that, among other things, it recommended investments in a series of real estate-focused private placements without conducting proper due diligence on them, leading to investor losses when the offerings flopped.

  • November 06, 2024

    Extradited Fund Manager Denies Stealing $3.4M In Conn.

    The former manager of a Connecticut investment fund, who spent almost a year in custody in South America, has denied federal charges that he stole about $3.4 million from investors who thought he was running a conservative hedge fund with consistent returns.

  • November 06, 2024

    Nano Dimension Targeted By Activist Investor Murchinson

    Nano Dimension shareholder Murchinson Ltd. has nominated two independent candidates to stand for election to the Israeli 3D printing company's board while slamming the current board for its inability to hold CEO Yoav Stern accountable, saying that it's time to address the company's "persistent undervaluation, improve its allocation of capital and fix a broken boardroom culture."

  • November 05, 2024

    What Trump's Return Means For Bank Regulation: 5 Questions

    With former President Donald Trump now projected to return to the White House, financial services attorneys are predicting the banking industry will see a sharp rightward turn at the Consumer Financial Protection Bureau and a much softer touch elsewhere in the federal regulatory arena.

  • November 05, 2024

    Trump's Win Expected To Pare Back Gensler's SEC Agenda

    The reelection of President Donald Trump will bring with it many big changes to the U.S. Securities and Exchange Commission, including a new chair who could set a more crypto- and business-friendly policy that would translate into a downtick in rulemaking and enforcement cases in comparison to outgoing President Joe Biden.

  • November 05, 2024

    Trump Has Official Immunity. What About His Aides?

    Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.

  • November 05, 2024

    How Trump Can Quash His Criminal Cases

    Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.

  • November 05, 2024

    An Early Look At Trump's Supreme Court Shortlist

    With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.

  • November 05, 2024

    GOP's Senate Win Hands Future Of The Judiciary To Trump

    Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees. 

  • November 05, 2024

    The Firms With An Inside Track To A New Trump Admin

    Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.

  • November 05, 2024

    Trump Media Reports $19M Quarterly Loss On Election Day

    The parent of projected Republican presidential winner Donald Trump's social media platform reported a $19.2 million quarterly loss in an Election Day filing Tuesday, the same day trading of its shares were halted three times because of volatility.

  • November 05, 2024

    SEC Beats Stockbroker Challenge To BSA Enforcement

    A Utah federal judge on Tuesday tossed Scottsdale Capital Advisors' lawsuit accusing the U.S. Securities and Exchange Commission of wrongfully enforcing the suspicious activity reporting regulations under the Bank Secrecy Act, finding the microcap broker-dealer didn't show that the underlying enforcement action is subject to judicial review.

  • November 05, 2024

    FTX Says Convicted Former Exec Must Cough Up $99M

    The bankruptcy estate of cryptocurrency exchange FTX has asked a Delaware federal bankruptcy court to order former executive Ryan Salame to relinquish $98.8 million in assets, according to an avoidance action filed Monday.

  • November 05, 2024

    Binance Says New SEC Complaint Suffers Same Old Flaws

    Cryptocurrency exchange Binance told a Washington, D.C., federal judge the U.S. Securities and Exchange Commission can't continue to argue that secondary sales of digital assets are securities transactions in its enforcement suit against the trading platform after the regulator acquiesced that the tokens themselves aren't investment contracts.

  • November 05, 2024

    Bright Health Beats Investor Suit Over COVID-19 Costs

    The health insurer previously known as Bright Health Group Inc. no longer faces a proposed investor class action after a Brooklyn federal judge found that the company's initial public offering risk disclosures hadn't deliberately misled investors about its anticipated costs amid the COVID-19 pandemic.

  • November 05, 2024

    On The Ground: How Attorneys Safeguarded The Election

    Attorneys worked tirelessly Tuesday to support citizens and election workers on the final day of voting in one of history's most contentious presidential contests.

  • November 04, 2024

    SEC Must Prep For Legal Challenges To Regs, Watchdog Says

    The U.S. Securities and Exchange Commission should prepare for more litigation over its rulemaking agenda and make sure its new regulations can pass judicial muster, particularly in light of budget constraints, the agency's inspector general warned in a Monday report.

  • November 04, 2024

    Robinhood Users Denied Class Cert. In Order Flow Suit

    A proposed class of Robinhood customers must run their expert's damages model before asking a California federal judge to weigh their class certification bid in litigation alleging that the investing platform failed to disclose financial interests affecting order flow on the platform.

  • November 04, 2024

    BofA Unit Escapes Trading Firm's Spoofing Suit For Now

    An Illinois federal judge has tossed a trading firm's proposed class action claiming that a Bank of America unit manipulated markets for U.S. Treasury futures and options, ruling that the firm fails to allege actual damages, but giving it an opportunity to amend the suit.

  • November 04, 2024

    Ex-Dentons Atty Botched $54M Currency Deal, Jury Told

    A Venezuelan lawyer blamed a former Dentons US LLP attorney Monday for a $54 million loss in a bolivar-to-dollars currency swap, telling a Miami jury that the attorney never communicated that the buyer of the bolivars had not agreed to deposit the U.S. dollars into escrow and instead proceeded with a doomed transaction.

  • November 04, 2024

    SEC Dings Adviser For Improper Athlete-Endorsed Ads

    The U.S. Securities and Exchange Commission has fined an investment adviser over allegations that its advertisements include endorsements from professional soccer and mixed martial arts athletes without disclosing the athletes were not clients of the firm and were paid for their endorsements.

  • November 04, 2024

    Finance Cos. Can't Prove Trade Secret Theft, Conn. Court Told

    A Connecticut financial adviser denied stealing trade secrets from his former firm and improperly accessing its computer systems after he resigned to run his own company, telling a state court that his onetime employer and its affiliates cannot prove the allegations in a lawsuit they brought against him.

  • November 04, 2024

    FINRA Fines Morgan Stanley $1M For Controls Violations

    Morgan Stanley & Co. LLC has agreed to pay $1 million to resolve Financial Industry Regulatory Authority claims it violated the Exchange Act by failing to safeguard its customers against the entry of orders that were placed in error.

  • November 04, 2024

    Debt Collectors Sue Over CFPB's Guidance On Medical Debt

    A debt collection trade group has sued the Consumer Financial Protection Bureau in Washington, D.C., federal court to overturn recent guidance that warned collectors about seeking payment on potentially inflated or unverified medical bills, slamming it as an "overtly political" end-run around proper rulemaking.

  • November 04, 2024

    Crypto Industry Hopes Election Will Bring SEC Shake-Up

    The White House is poised to take a fresh approach to the digital asset industry regardless of who wins the presidency, but experts said the crypto industry's hopes for more rules and fewer enforcement cases ultimately depend on a new head of the U.S. Securities and Exchange Commission and a renewed push from Congress to pass crypto legislation.

Expert Analysis

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Carbon Offset Case A Win For CFTC Enviro Fraud Task Force

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    An Illinois federal court's decision in Commodity Futures Trading Commission v. Ikkurty — earning the CFTC a sizeable monetary award that will likely incentivize similar enforcement pursuit — shows the impact of the commission's Environmental Fraud Task Force, say attorneys at Steptoe.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Foreign Threat Actors Pose Novel Risks To US Tech Cos.

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    A recent bulletin jointly issued by several U.S. intelligence agencies warns technology startups and the venture capital community about national security risks posed by foreign threat actors, so companies interested in raising foreign capital should watch for several red flags, say Robert Friedman and Jacob Marco at Holland & Knight.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • Crypto Regs Could See A Reset Under The Next President

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    Donald Trump has taken a permissive policy stance favoring crypto, while Kamala Harris has been silent on the issue, but no matter who wins the presidential election, we may see a more lenient regulatory climate toward the digital currency than from the Biden administration, says Liam Murphy at McKool Smith.

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