Securities

  • February 04, 2025

    FINRA Fines Broker $3.2M Over Securities Lending Biz

    Broker-dealer Apex Clearing Corp. has agreed to pay the Financial Industry Regulatory Authority $3.2 million to end first-of-its-kind claims that the firm failed to abide by customer protection rules with its fully paid securities lending program, including by misrepresenting how it would compensate participants, leaving certain customers vulnerable to potential tax consequences.

  • February 04, 2025

    Calif. Partly Beats Challenge To Climate Disclosure Laws

    A California federal judge has trimmed a lawsuit brought by the U.S. Chamber of Commerce and other business groups over the state's corporate climate disclosure rules, finding the groups failed to state a claim with respect to two causes of action.

  • February 04, 2025

    Wells Fargo Clears 2 More Consent Orders Amid Rehab Efforts

    The Federal Reserve said Tuesday that Wells Fargo & Co. has exited a pair of mortgage-related consent orders from more than a decade ago, another step forward in the banking giant's regulatory rehabilitation efforts.

  • February 04, 2025

    Sen. Banking Chair Sets 100-Day Dash For Crypto Legislation

    Senate Banking Committee Chair Tim Scott, R-S.C., said Tuesday that he intends to pass crypto legislation out of his chamber in the first 100 days of the new administration with the help of a working group composed of committee chairs in both chambers of Congress.

  • February 04, 2025

    Judge Explains Biogen Class Cert. Ruling After 1st Circ. Order

    A Massachusetts federal judge on Tuesday said he was reminded of a grade school lesson in long division as he explained his reasoning behind granting class certification and cutting short the class period in a suit against drugmaker Biogen Inc. on the orders of the First Circuit.

  • February 04, 2025

    Del. Justices Nix Fairness Ruling In TripAdvisor Nevada Move

    Citing in part aversion to "speculative litigation," Delaware's Supreme Court on Tuesday reversed a ruling that kept in play potential stockholder damage claims in connection with the proposed reincorporation in Nevada of TripAdvisor and its parent, finding that business judgment deference should govern the court challenge.

  • February 04, 2025

    SEC Could Greenlight Crypto Trading Under New Task Force

    The U.S. Securities and Exchange Commission's new crypto task force could bless the trading of certain tokens on nonregulated exchanges as the industry awaits agency rulemaking or legislation setting out the new rules of the road for crypto, the task force's leader said Tuesday in a statement laying out her agenda.

  • February 04, 2025

    AI Clean Energy Co. SPAC Suit Should Be Zapped, Judge Says

    A federal magistrate judge has recommended dismissing, without prejudice, a derivative shareholder suit accusing the top brass of Stem Inc., an artificial intelligence-driven clean energy company, of making misleading statements leading up to a conflicted merger with a special purpose acquisition company, saying no one should have to "connect the dots" to figure out what is specifically being alleged against them. 

  • February 04, 2025

    Robinhood Halts Super Bowl Offerings After Request By CFTC

    Robinhood Markets' derivatives subsidiary pulled back its planned offering of Super Bowl online trading markets on Tuesday, one day after announcing the offering, saying the U.S. Commodity Futures Trading Commission requested that it stop.

  • February 04, 2025

    SEC Receiver, Atty Agree To Settle Fraud Transfer Claims

    A court-appointed receiver for a U.S. Securities and Exchange Commission case has reached a settlement with parties who allegedly received hundreds of thousands of dollars' worth of transfers from a fraudulent foreign exchange trading scheme, including the attorney and family of a convicted executive.

  • February 04, 2025

    Coinbase Taps BigLaw Firms In Bid To End Crypto 'Debanking'

    Crypto exchange Coinbase urged regulators Tuesday to clarify that banks can offer crypto custody and execution services, submitting a letter featuring a report from three BigLaw firms asserting that federal laws and regulations already allow banks to wade further into digital asset activities.

  • February 04, 2025

    Fidelity National Urges Del. Toss Of Weak F&G Deal 'Gripe'

    An attorney for Fidelity National Financial Inc. told a Delaware vice chancellor Tuesday that stockholders failed to do more than "fundamentally gripe" about terms of a $250 million investment in spun-off F&G Annuities & Life Inc. when the shareholders sued for breaches of fiduciary duty last year.

  • February 04, 2025

    SEC Says Pre-IPO Stock Firm Was $70M Boiler Room Scheme

    The U.S. Securities and Exchange Commission has accused several New York City residents of participating in a fraudulent scheme in which sales representatives allegedly used high-pressure tactics to induce investments in private companies that had not yet held initial public offerings, while benefiting from the hidden fees charged to investors.

  • February 04, 2025

    Ex-Celsius VP Cops To Insider Trading In Florida Case

    A former vice president and head accountant of Celsius Holdings Inc. pled guilty to insider trading Tuesday in Florida federal court, admitting that he used confidential information about sales expectations to buy securities in the energy drink company and sold them a month later at a profit.

  • February 04, 2025

    Ex-Fed Adviser Charged With Espionage Called Flight Risk

    Prosecutors told a D.C. federal judge on Tuesday that a former senior adviser to the Federal Reserve Board of Governors accused of stealing confidential data for China needs to be detained while he awaits trial due to his ample ability to flee the U.S.

  • February 04, 2025

    Trump Taps GOP Senate Staffer For Treasury Bank Policy Role

    President Donald Trump on Monday nominated Luke Pettit, a senior adviser to Sen. Bill Hagerty, R-Tenn., and former Federal Reserve policy analyst, to become the U.S. Department of the Treasury's top bank policy official.

  • February 04, 2025

    Javice's Texts About Elizabeth Holmes Not Fair Game For Trial

    Frank founder Charlie Javice's sympathetic texts about healthcare-sector fraudster Elizabeth Holmes won't be seen by the jury hearing charges that the education startup executive faked data to dupe JPMorgan into a $175 million acquisition, a Manhattan federal judge said Tuesday.

  • February 03, 2025

    Crowell & Moring Lands Former DOJ Assistant Chief For FCPA

    A former assistant chief in the U.S. Department of Justice's Foreign Corrupt Practices Act unit has joined Crowell & Moring LLP as a partner in the firm's white collar and regulatory enforcement group, according to an announcement made Tuesday.

  • February 03, 2025

    Trump Orders Plan For Creating US Sovereign Wealth Fund

    President Donald Trump on Monday signed an executive order calling on the U.S. Department of the Treasury and U.S. Department of Commerce to come up with a plan to create a U.S. sovereign wealth fund and said the social media app TikTok could potentially be put in the proposed fund.

  • February 03, 2025

    Credit Suisse Gets Investor Suit Over Collapse Booted To NY

    Credit Suisse can fight a proposed investor class action in New York, instead of New Jersey, alongside similar litigation related to its rapid deterioration and subsequent takeover in March 2023, a Garden State magistrate judge has determined.

  • February 03, 2025

    Boeing Slams Funds' Bid To Bump 737 Max Fraud Suit To Va.

    Boeing has told an Illinois federal judge that equity funds suing the American aerospace giant for allegedly defrauding investors by downplaying the 737 Max jets' safety flaws following a pair of deadly crashes in 2018 and 2019 shouldn't be allowed to forum-shop by moving their suit to Virginia.

  • February 03, 2025

    Texas' Bid To Launch Stock Exchange Moves Forward

    As the owner of the new Texas Stock Exchange LLC gears up to begin trading by next year, capital markets attorneys are closely watching how the company plans to penetrate a market long dominated by two New York-based juggernauts.

  • February 03, 2025

    DOJ Poised To Prosecute Threat-Makers Against DOGE

    A federal prosecutor appointed by President Donald Trump offered Elon Musk his office's support to "protect" the work of the newly created Department of Government Efficiency headed by the billionaire businessman, including "legal action against anyone who impedes your work or threatens your people."

  • February 03, 2025

    11th Circ. Weighs Future Of SEC's Market Surveillance Tool

    The Eleventh Circuit on Monday questioned whether brokerage firms were being unfairly burdened with the cost of building up a U.S. Securities and Exchange surveillance tool known as the consolidated audit trail while appearing unmoved by arguments that the surveillance tool should never have been built.

  • February 03, 2025

    Baby Sock Co. Inks $3.5M Deal In Investor's FDA Approval Suit

    Investors suing digital baby monitoring device manufacturer Owlet Inc. have asked a California federal court to preliminarily approve a $3.5 million deal to settle claims the company misled investors about approvals required from the U.S. Food and Drug Administration to sell its "smart socks."

Expert Analysis

  • Opinion

    3 New Year's Resolutions For Antitrust Agencies To Consider

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    James Fredricks at Skadden rings in 2025 with his wish list for the federal antitrust agencies, starting with a provision for a presumptive safe harbor for information sharing.

  • New Year, New Risks: 8 Top Cyber Issues For Finance In 2025

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    As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.

  • FTC Focus: A Changing Of The Guard

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    While rigorous antitrust enforcement is unlikely to slow down at the Federal Trade Commission, the focus will undoubtedly change, including when it comes to Big Tech, as Andrew Ferguson prepares to take the reins from Chair Lina Khan, say attorneys at Proskauer.

  • 5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle

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    The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.

  • 8 Trends And Predictions Following PE's Late 2024 Surge

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    Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.

  • Series

    Playing Esports Makes Me A Better Lawyer

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    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • Lessons From The SEC's 2024 Crackdown On AI Washing

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    AI washing was the subject of increased scrutiny from the U.S. Securities and Exchange Commission in 2024 following a surge in the commercial adoption of generative artificial intelligence technologies in 2023, highlighting the importance of transparency, accuracy and accountability when communicating about AI, say attorneys at Perkins Coie.

  • The 6 Most Significant FCRA Litigation Developments Of 2024

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    From a key sovereign immunity decision at the U.S. Supreme Court to a ruling on creditworthiness out of the Seventh Circuit, several important Fair Credit Reporting Act cases wound their way through the courts in 2024, each offering takeaways for both plaintiffs and defendants, say attorneys at Shipkevich.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • The Securities Litigation Trends That Will Matter Most In 2025

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    2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.

  • Predicting The Lasting Changes CFPB May Face In 2025

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    President-elect Donald Trump and the incoming Republican-controlled Congress' likely attempts to reshape the Consumer Financial Protection Bureau could significantly alter its rulemaking, supervisory and enforcement abilities for years to come, says Jim Sandy at McGlinchey Stafford.

  • What To Watch For In The 2025 Benefits Landscape

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    While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.

  • How White Collar Enforcement May Shift In Trump's 2nd Term

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    After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.

  • COP29 Offers Pathway To A Global Carbon Market

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    COP29, the recently concluded United Nations climate conference, represented a breakthrough in the establishment of standards for a global carbon market — and voluntary carbon market participants in the U.S. and elsewhere can enhance the value of their projects by aligning them with these standards, say attorneys at Morgan Lewis.

  • New Trump Admin May Bring Financial Oversight Turbulence

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    As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.

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