This prior post discussed the many FCPA (and related) enforcement actions concerning Ecuador’s Seguros Sucre S.A. (“Seguros Sucre”), an alleged state-owned insurance company and “instrumentality” of the Ecuadorian government.
Among the enforcement actions were criminal charges announced by the DOJ in
Securities
What Jurisdiction Is the SEC Claiming in the Crypto Area?
Questions regarding the limits of the SEC’s jurisdiction in the crypto asset area have blossomed again since its decision to in the Kraken case early this year. There, the agency at least suggest that it was revising its approach to…
Stericycle DPA Ends
By Mike Koehler
As highlighted in this prior post, in mid-2022 Stericycle (an Illinois based medical waste disposal company) resolved a net $59 million parallel DOJ and SEC enforcement action concerning conduct in Brazil, Mexico, and Argentina.
The DOJ enforcement action involved…
PT Telekomunikasi Indonesia Discloses Scrutiny
By Mike Koehler
PT Telekomunikasi Indonesia, an Indonesia-based telecommunications company with American Depositary Receipts traded in the U.S., recently disclosed in this SEC filing.
“In October 2023, the Company received a document request from the U.S. Securities and Exchange Commission (“SEC”) as…
Market Trends 2024/25: Disclosure on Political Contributions
By Liz Walsh & Gonzalo Go
This practice note explores the evolving trends and practices surrounding the disclosure of political contributions by public companies, particularly in the context of environmental, social, and governance (ESG) issues. It highlights the increasing calls from legal academics, investors, and activist…
SEC Charges PGI Global Founder with $198 Million Crypto Asset and Foreign Exchange Fraud Scheme
The Securities and Exchange Commission today charged Ramil Palafox for orchestrating a fraudulent scheme that raised approximately $198 million from investors worldwide and for misappropriating more than $57 million of investor funds. According to the…
Growth of Permanent Capital Vehicles Expected to Accelerate
In recent years, private non-bank lending to private equity-owned, small- and middle-market companies has increased significantly. According to a report from the Loan Syndications and Trading Association (LSTA) detailing data from a recent survey, the U.S. private corporate credit market…
Crypto Assets – What Are The Limits of SEC Jurisdiction?
The question of jurisdiction regarding crypto assets as to the SEC has been surrounded with controversy since inception. Many, such as the Commission for a time, believed the agency had jurisdiction based on the Howey test regarding what constitutes a…
Invitation to jointly purchase a condo or rental property to generate a return through renting or selling it qualifies as distribution of an investment contract under the Quebec Securities Act
On January 29, 2025, the Financial Markets Administrative Tribunal (the TMF) found that Ms. Alteon Senat, a representative of a mutual fund dealer and representative in insurance of persons, breached multiple provisions of the Securities Act (the QSA), the Act…
Paul S. Atkins Sworn In as SEC Chairman
Paul S. Atkins was sworn into office today as the 34th Chairman of the Securities and Exchange Commission. Chairman Atkins was nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9,…