Government & Regulatory Investigations

SEPTEMBER 2020 DEVELOPMENTS:

SEC Updates Statistical Disclosure Requirements for Banking Registrants

Federal Reserve Board of Governors Issues Guidance on U.S. Banks’ Reporting Obligations Regarding Suspected Foreign Corrupt Practices

DOJ Issues Merger Remedies Manual Citing Strong Preference for Structural Remedies – New Openness to Private Equity Buyers

SEC Holds New York Stock Exchange Direct Listing Rules

AUGUST 2020 DEVELOPMENTS:

SEC Modernizes the Accredited Investor Definition

SEC Adopts Rule Amendments to Modernize Disclosures of Business, Legal Proceedings, and Risk Factors Under Regulation S-K

DOJ Releases First FCPA Advisory Opinion Since 2014

SEC Publishes Semi-Annual Regulatory Agenda for Spring 2020

SEC Adopts Expedited Review Process for Exemptive “Substantially Identical” Applications Under Investment Company Act

Justice Department Files Suit to Enjoin Acquisition of Minority Share of Community Hospital; Shows Pitfalls of a Merger “Plan B” and Provides Roadmap of What Not to Say During Deal Negotiations

DOJ Issues New Guidance Limiting Federal Clean Water Act Enforcement Overfilling of State Actions

FCC Clarifies that Certain Communications to COVID-19 Patients Fall Within the Telephone Consumer Protection Act’s “Emergency Purposes” Safe Harbor

Massachusetts U.S. Attorney’s Office Enters into a Memorandum of Understand with the Office of the Special Inspector General to Investigate and Prosecute Fraud in the Distribution of Funds Authorized by the CARES Act

JULY 2020 DEVELOPMENTS:

SEC Adopts Rule Amendments Regarding Proxy Voting Advice

SEC Issues Warning for Advisors and Broker-Dealers on Increased Ransomware Attacks

FINRA Issues Regulatory Guidance on Digital Assets

DOJ/SEC Release New Edition of Foreign Corrupt Practice Act Guidance

FTC and DOJ Jointly Issue Vertical Merger Antitrust Guidelines

JUNE 2020 DEVELOPMENTS:

Supreme Court Ruling in Liu v. SEC Preserves but Limits SEC Disgorgement Power

DOJ Announces Another Increase to False Claims Act Penalties

SEC Divisions of Corporation Finance Issues Additional Disclosure Guidance Related to COVID-19 Pandemic

Consumer Financial Protection Bureau Issues FAQs Addressing Consumer Reporting Under the CARES Act

SEC Chairman Issues Public Statement Addressing Regulation Best Interest and Form CRS

COVID-19 Whistleblower Protection Bill Introduced into Congress

DOJ and White House Maintain Focus on Elder Fraud

COVID-19 Judicial Task Force Proposes Protocols to Reinstate Jury Trials

FINRA Releases Regulatory Notice on Artificial Intelligence

CFTC Unanimously Approves Final Rule Regarding CPO Registration Exemption

United States DOJ Revises Its Guidance on Evaluating Corporate Compliance Programs

Global Privacy Assembly Establishes COVID-19 Task Force

FINRA Shares Best Practices by Firms to Supervise in a Remote Work Environment

FINRA Update COVID-19 FAQs

MAY 2020 DEVELOPMENTS:

SEC Adopts Amendments to Improve Financial Disclosures Related to Acquisitions and Dispositions of Businesses, Update to “Significant Subsidiary” Test

CFTC Division of Enforcement Issues Civil Monetary Guidance

FINRA Proposes Rule Change to Temporarily Amend Certain Timing, Method of Service, and Other Procedural Requirements in FINRA Rules

SEC Offers Limited Rule Relief to Spur Small Business Crowdfunding During Pandemic

SEC Division of Corporation Finance Issues FAQs Addressing the SEC’s Conditional Relief Order

SEC Approves NASDAQ Request to Provide Temporary Relief from Certain Shareholder Approval Requirements During COVID-19 Pandemic

FCC Adopts New Rules Implementing TRACED Act and Enhancing Enforcement Efforts

APRIL 2020 DEVELOPMENTS:

United Kingdom and United States Issue Joint Cybersecurity Alert Concerning Explosion of COVID-19 Phishing Attacks

FDA Issues Warning Letter for Fraudulent COVID-19 Treatment Product

SEC Announces CBOE Amendments to Business Continuity and Disaster Recovery Testing Rules

FINRA Issues Statement on SEC Risk Alerts Regarding Regulation Best Interest, Form CRS, and its Related Rules

National Association of Insurance Commissioners (NAIC) Insurance Brief: COVID-19 and Insurance

NAIC Creates Database of State Bulletins and Alerts Regarding COVID-19

Commodity Futures Trading Commission to Hold an Open Meeting on April 14, 2020 from 10:00 a.m. to 1:00 p.m.

Antitrust Division Issues First Expedited Approval of COVID-19 Competitor Collaboration

DOJ and SEC Take Aggressive Measure on COVID-19 Fraud

SEC Simplifies Disclosure Requirements for Certain Registered Debt Offerings

SEC Extends Conditional Exemptions from Reporting and Proxy Delivery Requirements for Public Companies, Funds and Investment Advisers Affected by COVID-19

Federal, State, and Local Law Enforcement Warn Against Teleconferencing Hacking During Coronavirus Pandemic

Department of Justice Makes $850 Million Available To Help Public Safety Agencies Address COVID-19 Pandemic

MARCH 2020 DEVELOPMENTS:

U.S. Securities and Exchange Commission (SEC) COVID-19 Response

SEC Permits Virtual Board Meetings and Provides Conditional Relief from Certain Filings Procedures to Assist Funds and Advisers

U.S. Department of Justice (DOJ) Announces Antitrust Civil Process Changes for Pendency of COVID-19 Event

DOJ and FTC Issue Joint Antitrust Statement regarding COVID-19

Attorney General William P. Barr Urges American Public to Report COVID-19 Fraud

Federal Government Response to COVID-19

Federal Bureau of Investigations (FBI) Sees Rise in Fraud Schemes Related to COVID-19

Federal Bureau of Prisons (BOP) Implementing Modified Operations

September 16, 2020
COVID-19: State of Connecticut Governor's Executive Orders
May 29, 2020
COVID-19 Webinar Series: Open for Business: Preparing for a Successful Reopening Strategy
March 21, 2020
COVID-19: Governor Lamont Issues Executive Order - "Stay Safe, Stay Home"
March 21, 2020
COVID-19 Guidance & Resources
March 20, 2020
COVID-19 Alert: State of Connecticut Initiatives
March 17, 2020
Reid & Riege COVID-19 Update: A Message to Our Clients and Friends