- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-01-19T13:44:00
The Securities and Exchange Commission (SEC) asked a federal court to force Covington & Burling to comply with a subpoena seeking the law firm turn over names of about 300 clients impacted by a 2020 cyberattack.
The SEC announced Jan. 12 it filed an application to the U.S. District Court for the District of Columbia for the court to order Covington to show cause as to why it should not be compelled to comply with the agency’s subpoena, which relates to the Microsoft Hafnium cyberattack.
Microsoft announced in March 2021 some of its programs were vulnerable to hacking and that a China-based group, Hafnium, exploited the weaknesses at government agencies, businesses, and schools globally. On March 16, 2021, the SEC announced it was launching an investigation about the impact of the attack on publicly traded companies.
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2023-08-04T18:01:00Z By Adrianne Appel
Covington & Burling is leaving open the possibility of appealing a recent federal court order requiring the law firm to provide the names of hacked clients to the Securities and Exchange Commission.
2023-04-27T18:43:00Z By Aaron Nicodemus
The protection of customer personal data by branch offices of broker-dealers and investment advisers should be just as robust—and as well-coordinated—as protocols used by the firm’s home office, according to the Securities and Exchange Commission.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
2025-03-24T20:16:00Z By Oscar Gonzalez
The U.S. Treasury Department lifted its sanctions against cryptocurrency mixer Tornado Cash on Friday after a federal appeals court ruled in November the penalty levied by the agency’s Office of Foreign Assets Control was an overreach.
2025-03-24T16:06:00Z By Jaclyn Jaeger
In October 2024, aerospace and defense company Raytheon and parent company RTX reached a $950 million settlement with U.S. government agencies to resolve multiple federal law violations. More significant than the criminal penalties were the four compliance monitorships that came with the agreements.
2025-03-19T11:53:00Z By Adrianne Appel
An investment company and its founder, president, and chief compliance officer flagrantly kept violating mutual fund rules for multiple years after settling with the Securities and Exchange Commission, the SEC said in a complaint against the company.
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