Securities Docket Webinar Analyzes SEC Focus on Cybersecurity and Cryptocurrencies, Along With Implications of Court Decisions on the ALJ Regime and Attorney-Client Privilege (Part Two of Two)
Hedge Fund Law Report
The SEC, which increasingly uses technology to leverage its oversight and enforcement powers, recently reaffirmed its commitment to combatting cybercrime and misconduct in cryptocurrencies through the creation of a Cyber Unit. See “Co-Director of SEC Enforcement Division Champions New Retail Strategy Task Force and Cyber Unit” (Nov. 16, 2017). In addition, the Commission is continuing its trend of holding individuals accountable to deter misconduct. Finally, recent judicial decisions continue to shape insider trading law; the extraterritorial application of securities laws; the legitimacy of the SEC’s administrative law judge (ALJ) regime; and the risks and benefits of providing privileged material to government agencies. These issues, among others, were discussed in a recent Securities Docket webinar featuring William R. McLucas, partner at WilmerHale; Doug Davison, partner at Linklaters; and Martin Wilczynski and Steven E. Richards, senior managing directors at Ankura Consulting Group. This article, the second in a two-part series, analyzes developments in the areas of cybersecurity and cryptocurrencies; individual accountability; insider trading; extraterritorial application of securities laws; the ALJ regime; and attorney-client privilege. The first article summarized 2017 enforcement actions and other developments in the areas of accounting and audit cases, disgorgement and whistleblowers. For further commentary from WilmerHale attorneys, see “Financial CHOICE Act of 2017 Proposes Sweeping Reforms, but May Allow Regulators to Maintain Status Quo in Some Areas” (Jun. 1, 2017).