Tagged: SEC

24 Apr, 2024

Webinar: Effective Strategies to Handle Whistleblower Complaints

Webinar: Effective Strategies to Handle Whistleblower Complaints May 21, 2024, 12 Noon EST Sign Up HERE Whistleblower reporting is a real and pervasive threat to companies. The Justice Department, the Securities and Exchange Commission and other regulatory agencies offer financial rewards to potential whistleblowers. This new incentive structure poses real risks for companies that whistleblowers may skip internal reporting and present concerns to fedferal prosecutors...

General

21 Mar, 2024

The SEC’s Recent Action Against Crypto Exchange ShapeShift Lacks Guidance and Draws Internal Criticism

On March 5, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced charges and a corresponding cease-and-desist order (the “Order”) with ShapeShift AG, a cryptocurrency exchange registered in Switzerland that previously operated out of Colorado. The Order notes that ShapeShift allowed its users to buy and sell certain crypto assets that are considered securities as defined in Section3(a)(10) if the Securities Exchange Act of 1934. ...

Podcasts

10 Mar, 2024

Episode 312 — Eddie Green, CEO of SnippetSentry, on Communications Preservation Risks

Companies have a vested interest in preserving internal communications for a variety of reasons — to hold actors accountable and to protect the organization from potential private and government claims or investigations that may have serious direct or collateral consequences. Companies that want to use ephemeral messaging systems can do so, but they have to understand the risks involved and tailor appropriate controls and procedures...

Podcasts

3 Mar, 2024

Episode 311: Tom Fox on FCPA Enforcement — DOJ’s Approach to Recidivism and Self-Disclosure

In this special episode of Corruption, Crime, and Compliance, Michael Volkov joins colleague and long-time friend Tom Fox as they delve into the intricacies of recent FCPA enforcement actions, shedding light on the evolving landscape of corporate compliance. From the ABB case to the SAP settlement, Michael and Tom dissect the nuances of voluntary disclosure, extensive remediation, and the shifting priorities of the Department of...

General

27 Feb, 2024

TradeStation Settles Securities Violations Stemming From its Crypto Yield Product

On February 7, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced charges and a related cease-and-desist order (the “Order”) against TradeStation Crypto, Inc. (“TradeStation”) for failing to register the offer and sale of its crypto-lending product. In order to settle these charges, TradeStation agreed to pay a $1.5 million penalty. As part of the agreement, TradeStation did not admit or deny the findings. TradeStation’s...

General

1 Feb, 2024

SEC Settlement with BarnBridge DAO and its Founders for Securities Violations Highlights Legal Risks for DAOs and DeFi

Matt Stankiewicz, Partner at The Volkov Law Group, joins us for another post discussing how the SEC’s recent settlement with BarnBridge DAO may impact the cryptocurrency industry. Matt can be contacted at [email protected]. On December 23, 2023, BarnBridge DAO (“BarnBridge”) and its founders, Tayler Ward and Troy Murray, agreed to settle charges with the U.S. Securities and Exchange Commission (“SEC”). BarnBridge violated Sections5(a) and 5(c) of...

Podcasts

28 Jan, 2024

Episode 306 — 2023 FCPA Year in Review

FCPA trends often are relatively easy to describe and often overblown as a marketing technique by the usual cast of paparazzi suspects. (Self-proclaimed prognosticators that often push incorrect themes to promote business, or those that restate profound grasps of the obvious). 2023 has been a strange year in a number of respects — socially, politically and even in the small universe of DOJ enforcement and...

Podcasts

22 Jan, 2024

Episode 305 — Deep Dive into the SAP FCPA Settlement

SAP agreed to a three-year deferred prosecution agreement, in exchange for the payment of approximately $220 million in penalties for bribe payments made to South African and Indonesia government officials. DOJ’s resolution includes a criminal penalty of $118.8 million and forfeiture of $103.4 million, along with a credit of $55.1 million against amounts paid by SAP to South African law enforcement authorities, and the full...

General

16 Jan, 2024

SAP Returns to U.S. Enforcement Scene: Pays DOJ and SEC Over $220 Million to Resolve FCPA Violations (Part I of III)

Life is always filled with surprises. Just when we thought 2023 was a “slow” FCPA enforcement year, DOJ and SEC announced a large enforcement action against SAP for approximately $220 million for FCPA violations in South Africa, and Indonesia. The SEC’s enforcement action for $98 million includes SAP FCPA violations in Greater Africa and Azerbaijan. SAP is no stranger to U.S, enforcement agencies. In 2021,...

Industry Challenges

1 Nov, 2023

SEC Sues SolarWinds and its CISO for Fraud Over Botched Data Breach Response, Marking New Era in Cyber Enforcement

The U.S. Securities and Exchange Commission has a message for publicly-traded companies that suffer a data breach: own up. On Monday, the SEC sued Texas-based SolarWinds––and its Chief Information Security Officer (“CISO”)––for defrauding investors by allegedly failing to disclose known security risks in public filings. This marks the SEC’s first ever enforcement action against an individual corporate officer over their mishandling of a data breach––but...

Tagged: SEC

Webinar: Effective Strategies to Handle Whistleblower Complaints

The SEC’s Recent Action Against Crypto Exchange ShapeShift Lacks Guidance and Draws Internal Criticism

Episode 312 — Eddie Green, CEO of SnippetSentry, on Communications Preservation Risks

Episode 311: Tom Fox on FCPA Enforcement — DOJ’s Approach to Recidivism and Self-Disclosure

TradeStation Settles Securities Violations Stemming From its Crypto Yield Product

SEC Settlement with BarnBridge DAO and its Founders for Securities Violations Highlights Legal Risks for DAOs and DeFi

Episode 306 — 2023 FCPA Year in Review

Episode 305 — Deep Dive into the SAP FCPA Settlement

SAP Returns to U.S. Enforcement Scene: Pays DOJ and SEC Over $220 Million to Resolve FCPA Violations (Part I of III)

SEC Sues SolarWinds and its CISO for Fraud Over Botched Data Breach Response, Marking New Era in Cyber Enforcement

Watch The Latest Webinars on Volkov Law TV

Listen to the Corruption, Crime & Compliance Podcast

Upcoming Events

Making Money Is Not a Mission

The Road Ahead

Pointing the Finger