Attorneys in Goodwin’s Securities + Shareholder Litigation and White Collar Defense practices have extensive experience before federal and state courts, legislative bodies, and regulatory and enforcement agencies. We continually monitor notable developments in these venues to prepare the Securities Snapshot — a bi-weekly compilation of securities litigation news delivered to subscribers’ via email. This publication summarizes news from the civil and criminal securities law arenas in a succinct, easy-to-read format. Topics covered include litigation and enforcement matters, legislation, rulemaking, and interpretive guidance from regulatory agencies.
June 18, 2019
SEC approves “best interest” standard of conduct for broker-dealers and related interpretive guidance of investment advisers’ responsibilities under the Investment Advisers Act; Second Circuit upholds dismissal of ex-SunEdison employees’ ERISA suit; Second Circuit affirms dismissal of pension fund’s securities suit against Xerox over Medicaid software; FinCEN issues guidance affirming the application of its regulatory framework to convertible virtual currency businesses; SEC issues no-action letter ruling that CorVel Corp. must allow investor vote on LGBT protections; Northern District of California again denies class certification for Finisar investors.