Posts by Lahdan Rahmati, Esq.
SEC Charges Issuer and CEO with Violating Whistleblower Protection Laws to Silence Investor Complaints
Last week, the U.S. Securities and Exchange Commission’s (SEC) issued a press release to announce that it filed an amended complaint against Collector’s Coffee, Inc. (d/b/a Collectors Café) and its CEO, Mykalai Kontilai (Defendants), alleging that they unlawfully sought to prohibit their investors from reporting misconduct to the SEC and other governmental agencies. What are…
Read MoreSEC Division of Enforcement Publishes Annual Report for Fiscal Year 2019
Earlier this week, the U.S. Securities and Exchange Commission (SEC) Division of Enforcement published its Annual Report for First Year 2019. The Annual Report details the Division of Enforcement’s efforts and initiatives on behalf of investors, highlights several significant actions, and presents the activities of the Division of Enforcement from both a qualitative and quantitative…
Read MoreThe U.S. Supreme Court may revoke the SEC’s Disgorgement Power in Liu v. SEC
What legal issue will the U.S. Supreme Court decide in Liu v. SEC? The U.S. Supreme Court (SCOTUS) granted cert on November 1, 2019 to determine whether the U.S. Securities and Exchange Commission (SEC) may seek and obtain disgorgement from a court as “equitable relief” for a securities law violation even though the SCOTUS has…
Read MoreThe SEC Can More Strategically and Securely Plan, Manage, and Implement Cloud Computing Services
Why did the SEC perform this Audit? The Office of Inspector General (OIG) of the U.S. Securities and Exchange Commission (SEC) conducted an audit to assess the SEC’s management of the planning, implementation, and security of its cloud computing services. You can read the audit in its entirety here. Specifically, OIG sought to: Assess the…
Read MoreThe Office of Inspector General’s final report details the Audit of the SEC’s Compliance With the DATA Act for Fiscal Year 2019
Why did the SEC perform this Audit? The Digital Accountability and Transparency Act of 2014 (DATA Act) requires the Inspector General of each Federal Agency to assess the completeness, accuracy, timeliness, and quality of their component agency’s spending data and the agency’s implementation and use of the data standards. Therefore, the Office of Inspector General…
Read MorePart 6: Highlights from LACBA’s 52nd Annual Securities Regulation Seminar – Cyber Regulation and Enforcement
Panel: Cyber Regulation and Enforcement The Cyber Regulation and Enforcement Panel at LACBA’s 52nd Annual Securities Regulation Seminar discussed the U.S. Securities and Exchange Commission‘s (SEC) priorities, regulation, guidance and cyber enforcement initiatives, cryptocurrency and ICOs. Nicolas Morgan, Partner, Paul Hastings LLP, moderated the panel. Panelists were Katherine J. Blair, Partner, Manatt, Phelps & Phillips,…
Read MorePart 5: Highlights from LACBA’s 52nd Annual Securities Regulation Seminar – Keynote Speaker: SEC Commissioner Robert J. Jackson, Jr.
Keynote Speaker: SEC Commissioner Robert J. Jackson, Jr. The Keynote Speaker during lunch at LACBA’s 52nd Annual Securities Regulation Seminar was U.S. Securities and Exchange Commission (SEC) Commissioner Robert J. Jackson Jr. – and it was awesome. SEC Commissioner Jackson spoke passionately and energetically to an eager crowd. The bold headlines below are the main…
Read MorePart 4: Highlights from LACBA’s 52nd Annual Securities Regulation Seminar – SEC Division of Corporation Finance Update
Panel: SEC Division of Corporation Finance Update This U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance Update Panel at LACBA’s 52nd Annual Securities Regulation Seminar discussed recent developments, including regulation reduction and other initiatives of the SEC Division of Corporation Finance. Jonathan K. Layne, Gibson, Dunn & Krutcher served as the moderator. The…
Read MorePart 3: Highlights from LACBA’s 52nd Annual Securities Regulation Seminar – Enforcement Developments
Panel: Enforcement Developments This Enforcement Developments Panel focused on a review of U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice (DOJ) national and regional enforcement trends and priorities. John F. Hartigan, Partner, Morgan Lewis & Bockius, LLP served as the moderator. The panelists were Nicola T. Hanna, U.S. Attorney for the Central…
Read MorePart 2: Highlights from LACBA’s 52nd Annual Securities Regulation Seminar – Legislative, Regulatory and Legal Developments in Securities Laws
Panel: Legislative, Regulatory and Legal Developments in Securities Laws This Legislative, Regulatory and Legal Developments in Securities Laws Panel discussed recent developments in securities laws from the U.S. Securities and Exchange Commission (SEC) General Counsel’s perspective, John W. Avery, Deputy Solicitor SEC Office of the General Counsel. Simon Lorne, Vice Chair, Millennium Management LLC, moderated…
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