Generally, SEC enforcement investigations are nonpublic until charges are filed. However, this confidentiality is subject to several exceptions: - Voluntary Company Disclosure. The SEC allows companies to voluntarily disclose their involvement in an enforcement…
Yes. SEC enforcement investigations are conducted in nonpublic proceedings. Pursuant to 17 C.F.R. § 203.5, the SEC maintains nonpublic formal and informal investigative proceedings. This does not, however, mean that information you provide to…
The SEC Enforcement Manual specifies that its investigations should remain nonpublic unless the Commission authorizes disclosure. This reflects the SEC’s statutory mandate to maintain “the confidentiality of its investigative files.” With these restrictions in…
Which Individuals Qualify as SEC Whistleblowers? Under Rule 21F-2 to the Securities Exchange Act of 1934, an SEC whistleblower is defined as “an individual who, alone or jointly with others, provides the Commission with…
Yes, under Dodd-Frank, a whistleblower must provide information in writing to the SEC in order to receive private retaliation protection. In Digital Realty Trust, Inc. V. Somers, the U.S. Supreme Court held that “Dodd-Frank’s…
When Should I Get in Touch with the SEC Defense Team? How Soon Should I Contact the SEC Defense Team? When is it Necessary to Retain Counsel for an SEC Investigation? At What Point…
If the Securities and Exchange Commission (SEC) has evidence that securities fraud was the result of intentional acts, rather than mere negligence, this can increase the likelihood of criminal enforcement. However, the SEC has…
If you’re being investigated for making false disclosures, your in-house counsel, who may have drafted the disclosures in question, may be in possession of firsthand evidence relevant to the investigation. Because in-house counsel often…
SEC defense can extend from the time you first hear from the SEC through a possible trial or appeal. As such, when you choose an SEC defense lawyer, you should choose a team that…
The request for you to give testimony does not establish that you are accused of wrongdoing. However, you should not assume that you are not under investigation, and information learned during testimony can also…