The US Securities and Exchange Commission (SEC or Commission)
had an active fourth quarter, rounding out a record-breaking
calendar year that saw several significant enforcement actions and
regulatory developments. The SEC Division of Enforcement’s
(Enforcement) vigor with respect to cryptocurrency enforcement
continued in full force with high-profile enforcement actions
against crypto companies and employees, while also diligently
pursuing more traditional enforcement actions for insider trading
and Foreign Corrupt Practices Act (FCPA) violations. On the
regulatory side, the Commission proposed a number of rules and
amendments aimed at, among other things, strengthening investor
protection in connection with insider trading, standardizing best
execution practices for broker-dealers, and promoting transparent
and accessible information-sharing with investors.
This Advisory continues our series of quarterly SEC enforcement
and regulatory highlights, with links to additional Arnold &
Porter advisories when available. Our analysis is informed by our
experience as former leaders and attorneys in the Enforcement
Division at the SEC: Dan Hawke as the former Chief of the Market
Abuse Unit and Director of the Philadelphia Regional Office, Jane
Norberg as the former Chief of the Office of the Whistleblower and
a Senior Officer in the Division of Enforcement, and Christian
Schultz as former Assistant Chief Litigation Counsel.
Enforcement
FY 2022 Results.On…
