Topic
sec enforcement
251 published works
The CLS Blue Sky Blog
Wachtell Lipton Discusses Supreme Court Rejection of Investor-Loss Limit on SEC Disgorgement
By David B. Anders, John F. Savarese, Wayne M. Carlin, Michael W. Holt
In a unanimous decision issued today in Sripetch v. SEC, the Supreme Court held that the SEC need not prove that investors suffered any actual pecuniary loss in order to…
The D&O Diary
U.S. Supreme Court: Financial Loss Not a Precondition for SEC Disgorgement Authority
Over the last several years, the United States Supreme Court has issued a series of decisions addressing the SEC’s powers to seek disgorgement against alleged securities law violators. Last Thursday,…
Government Enforcement, Compliance & Investigations Report
Well, Well, Wells: The SEC Reshapes Its Enforcement Program and Silences the Gag Rule
By Sarah Razaq Sallis, Kip Randall, Bhargavi Kalaga
On February 24, 2026, the Securities and Exchange Commission’s Division of Enforcement announced sweeping revisions to its Enforcement Manual (the Manual). A central feature of the revisions is a redesigned…
Cleary Enforcement Watch
Deny With Care: SEC Rescinds Settlement “Gag Rule,” Creating Risks and Opportunities for Settling Defendants
By Tom Bednar, Matthew C. Solomon, Breon S. Peace, Victor L. Hou, Samuel Levander
Yesterday, the Securities and Exchange Commission rescinded its so-called “gag rule,” which for fifty years had prohibited a settling defendant from publicly denying the allegations in a settled SEC Enforcement…
The CLS Blue Sky Blog
New SEC Enforcement Director Speaks About His Agenda
I have now been in this role for about a week, and it feels very much like returning home. I previously served nearly five years as Director of the SEC’s…
The SEC Institute Blog
SEC Announces 2025 Enforcement Results
On April 7, 2026, the SEC announced its enforcement results for fiscal year 2025. In 2025, 456 enforcement actions were filed. This included 303 standalone actions and 69 “follow-on” administrative…
The SEC Institute Blog
SEC Comment Letter Posting News
At “The SEC Speaks in 2026,” a conference presented by PLI in cooperation with the U.S. Securities and Exchange Commission, members of CorpFin announced that the comment letter posting process…
Subject to Inquiry
SEC Enforcement Speaks in 2026: Enforcement Division Moves “Full Steam Ahead” with Focus on Quality over Quantity, Procedural Fairness, and Targeted Pursuit of Non-Fraud Violations
By E. Andrew Southerling, Gary Leung, James Hornsby, Louis D. Greenstein, McGuireWoods LLP
SEC Acting Enforcement Director Sam Waldon declared recently that his division is moving “full steam ahead” against those who “lie, cheat, and steal” but also is focusing on quality over…
Compliance Building
Compliance Bricks and Mortar for March 27
These are some compliance-related stories that recently caught my attention. She Was Invisible for Six Months. Then She Found Out She Was Even More Invisible Than She Thought. By John…
The CLS Blue Sky Blog
Milbank Discusses Revised SEC Enforcement Manual
By George S. Canellos, Olivia S. Choe, Gurbir S. Grewal, Tawfiq S. Rangwala
On February 24, 2026, the SEC Division of Enforcement (“Division”) released the first updates to its Enforcement Manual (“Manual”) since 2017. The updates—which the SEC characterized as underscoring its “ongoing…