Securities and Exchange Commission

On December 27, 2016, the Securities and Exchange Commission announced charges against three Chinese traders who allegedly made almost $3 million in illegal profits by fraudulently trading on nonpublic information that had been hacked from two New York-based law firms.
Continue Reading SEC Charges Chinese Traders with Trading on Information Stolen from Law Firms

Recently, Aegerion Pharmaceuticals announced that it will enter into several settlements and plead guilty to two misdemeanors in connection with alleged violations of HIPAA, drug marketing regulations and securities laws. The criminal charges stem from the company’s marketing of a cholesterol drug called Juxtapid. Aegerion allegedly failed to comply with risk evaluation and management strategies and marketed Juxtapid (which is labeled with a warning about liver toxicity) without proper directions for use. 
Continue Reading Pharmaceutical Company to Plead Guilty and Settle Drug Marketing Charges

On September 22, 2015, the Securities and Exchange Commission announced a settlement order with an investment adviser for failing to establish cybersecurity policies and procedures, and published an investor alert entitled Identity Theft, Data Breaches, and Your Investment Accounts.
Continue Reading SEC Announces Settlement Order and Publishes Investor Alert

The Office of Compliance, Inspections and Examinations at the U.S. Securities and Exchange Commission recently issued a Risk Alert outlining its latest cybersecurity examination priorities for SEC-registered broker-dealers and investment advisers.
Continue Reading SEC Issues Top Cybersecurity Priorities for Broker-Dealers and Investment Advisers

On February 3, 2015, the SEC released a Risk Alert providing a summary of observations from the recent round of cybersecurity examinations of registered broker-dealers and investment advisers under the Cybersecurity Examination Initiative.
Continue Reading SEC Releases Observations from Recent Cybersecurity Examinations of Broker-Dealers and Advisers

Like other federal agencies, the Securities and Exchange Commission has been analyzing the applicability of its existing regulations relating to cybersecurity risks. In a client alert released by Hunton and Williams, we provide an overview of recent developments in cybersecurity disclosures by publicly-traded companies.
Continue Reading Recent Developments Concerning Cybersecurity Disclosure for Public Companies