On June 4, 2026, the Supreme Court of the United States released its unanimous opinion in the case Sripetch v. SEC, 146 S. Ct. 1403 (2026). The Court granted certiorari to address a widening division among the Circuit Courts of Appeals as to whether the SEC must demonstrate evidence of investor losses when seeking enforcement…
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The U.S. Securities and Exchange Commission (SEC) has published its Draft Strategic Plan for Fiscal Years 2026 through 2030, marking a return to the agency’s mission as established by Congress in the Securities Exchange Act of 1934. Released on June 2, 2026, the draft document underscores three core objectives: protecting investors, maintaining fair, orderly, and…
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On May 6, 2026, the Securities and Exchange Commission (SEC) announced charges filed against 21 individuals for their alleged participation in an elaborate insider trading scheme based on improper use confidential client information. Those charged include several mergers and acquisitions attorneys, who allegedly misappropriated client information within their law firms’ internal networks and provided the…
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The Supreme Court will hear oral arguments on April 20, 2026, in Sripetch v. Securities and Exchange Commission, a case that could significantly affect the scope of the Securities and Exchange Commission’s (SEC) authority to obtain disgorgement in civil enforcement actions. Disgorgement requires violators of securities laws to surrender profits obtained through misconduct, rooted in…
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On March 2, 2026, the Financial Industry Regulatory Authority (FINRA) released Regulatory Notice 26-06, requesting feedback and commentary on current arbitration processes utilized for dispute resolution among brokers and customers. FINRA’s recent publication comes at a time when its existing dispute resolution system has been under heavy criticism from industry parties and investors. The measure…
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Two noteworthy developments in the securities industry emerged this month, one offering relief to broker-dealers and the other serving as a stark reminder of evolving fraud risks. FINRA Removes Pre-Review Requirement for Negative-Consent Bulk Account Transfer Letters On February 6, 2026, FINRA issued Regulatory Notice 26-03 announcing a significant procedural change effective April 1, 2026….
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On December 9, 2025, the Financial Industry Regulatory Authority (FINRA) released its Annual Regulatory Oversight Report (Report) recapping its notable findings and regulatory activities. The Report itself does not create any new legal obligations but rather serves as an informative resource to firms by providing effective practices based on current trends and evolving risks within…
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On December 1, 2025, Switzerland’s Office of the Attorney General (OAG) announced criminal charges against UBS and the former Credit Suisse, marking a significant development in the long-running “tuna bonds” scandal. The charges stem from allegations that Credit Suisse failed to prevent money laundering tied to over $2 billion in loans arranged for Mozambique’s state-owned…
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On September 17, 2025, the Securities and Exchange Commission (SEC) issued a new policy statement clarifying the effect of mandatory arbitration clauses on its decisions to accelerate the effectiveness of registration statements. In doing so, the SEC confirmed that registration agreements containing mandatory arbitration clauses between issuers and investors will not impact decisions to accelerate…
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Advisor’s Fraud Leads to Prison Sentence A 63-year-old former financial advisor was sentenced to 32 months in federal prison for wire fraud after defrauding a client of $531,411.00 over approximately six years. The sentencing, announced on September 30, 2025, by the U.S. Attorney’s Office, followed the advisor’s guilty plea in June 2025. The fraud targeted…
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