Sec Enforcement News Today

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On August 24, 2023, the Second Circuit Court of Appeals issued its much-anticipated decision in Kirschner v. JP Morgan Chase Bank, holding that the syndicate term loans at issue were not securities.

Lawyers from the Securities and Exchange Commission have reportedly sent document requests and subpoenaed several asset managers related to ESG marketing.

Participants in the syndicated loan markets may have been relieved last month when the SEC declined to file the amicus brief requested by the Second Circuit Court of Appeals in Kirschner v. JP Morgan Chase Bank.

The case in unusual because of Coinbase's high profile in the U.S. and status as a publicly traded company.

This award is more than double the largest award in the amount of $114 million, which was issued in October 2020. To date, the SEC has awarded more than $1.5 billion to whistleblowers since the inception of its whistleblower program in 2011.

Go to any private equity event in the last 12 months, and "energy transition" will have been discussed, meaning the shift in energy production away from fossil‑based systems to low or zero carbon ones.

The key is finding a way to handle increasingly complex compliance while continuing to serve clients effectively.

The SEC recently brought its first ever enforcement actions for violating its limited offering exemption, and market participants are beginning to tighten up their policies and procedures in response.

A study found that when a company has bad news, it issues unrelated press releases on the same day it files with the SEC.