More than just the facts, Flash Reports provide context for what’s currently happening in the industry and translate that into what it means for your business.
Although total enforcement actions declined compared to the 2023 fiscal year, the Division of Enforcement obtained orders of $8.2 billion in financial remedies. This is the highest amount in SEC history.
Read MoreOn June 18th, 2024, the SEC announced that R.R. Donnelley & Sons (RRD) agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to cybersecurity incidents and alerts in late 2021.
On June 5th, the Fifth U.S. Circuit Court of Appeals vacated the Private Fund Reform Rules, saying that the SEC exceeded its statutory authority in adopting them on August 23, 2023. The Private Fund Reform Rules were adopted by a narrow 3-2 vote with strong dissent from the conservative commissioners. This expansive set of rules sought to enhance regulation, not just of registered private fund advisers, but of all private fund managers.
The Department of Labor (DOL) announced last week Principles for Developers and Employers when using AI in the workplace. These Principles, which are a directive from President Biden’s Oct. 30, 2023, Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, will “create a roadmap for developers and employers on how to harness AI technologies for their businesses while ensuring workers benefit from new opportunities created by AI and are protected from its potential harms.”