After five years and 138 episodes, Chris, Kurt, and PLI have decided to wind down the inSecurities podcast. 

On behalf of all of us on the inSecurities team, thanks for listening. We appreciate the dedicated listeners and guests who have shaped these conversations for five years! Every other week, we aimed to bring you insightful discussions with leaders and experts in securities regulation and enforcement, across a variety of topics and disciplines. We hope we’ve kept you both engaged and informed.

Remember, PLI is here to keep you ever current with securities regulatory and enforcement developments — from our must-attend programs, including The SEC Speaks and the Securities Regulation Institute, to our timely One-Hour Briefings and publications. Visit pli.edu/securities to explore PLI’s robust collection of live and on-demand programs, and be sure to bookmark the SECI blog from frequent contributor George Wilson for updates on SEC reporting.

We hope to see you at a future PLI program! As always, thanks for tuning in.

We are fielding many questions about what regulatory and enforcement priorities will emerge in the next administration. On this episode of the inSecurities podcast, Chris and Kurt look back at several episodes from 2024 to see how they might help us understand what lies ahead. In particular, Chris and Kurt consider: What will become of the SEC? Will there be any changes in tone or priorities at the Commission level? And will there be any changes in tone or priorities for the Division of Enforcement?

Former SEC Director of Enforcement Gurbir Grewal joins the inSecurities podcast to discuss the Division of Enforcement’s Annual Results for Fiscal Year 2024. He delves into the enforcement priorities that are expected to continue into the next administration, as well as new priorities that may emerge. Additionally, Gurbir reflects on his legacy as the former Director of Enforcement.

Chris and Kurt returned to Securities Docket's Securities Enforcement Forum to catch up on the latest developments and trends in the SEC enforcement space. On this episode of inSecurities they share key takeaways from a panel that focused on the impact of the Presidential election, a keynote address from Acting Director of Enforcement Sanjay Wadhwa, and more.

Adam Liptak, Supreme Court Reporter for the New York Times, joins the inSecurities Podcast to talk about recent SCOTUS decisions that impact the U.S. Securities and Exchange Commission and other administrative agencies, including a look at how the fall of Chevron will impact administrative agencies in the near term.

Related CLE Program: You may also be interested in 26th Annual Supreme Court Review: October 2023 Term. This program is a must for anyone interested in the development of constitutional law and the decisions of the United States Supreme Court. Learn more, register and earn CLE credit.

We revisit a favorite topic here on the inSecurities podcast — Ponzi schemes — but with a practicing attorney and author who literally wrote the book on Ponzi: Kathy Phelps, partner at Raines Feldman Littrell LLP. Chris and Kurt discuss some of the more technical aspects of the law and accounting that come into play after a Ponzi scheme has collapsed, and the issues that result regarding recovery, equitable relief, and the claims process.

On this episode of the inSecurities podcast, Chris and Kurt visit again with George Wilson, Director of PLI’s SEC Institute, to discuss highlights from the SECI Quarterly Newsletter. George highlights key takeaways from PCAOB’s 2023 inspection reports, CorpFin’s statements on cybersecurity incident disclosures, litigation challenging the SEC’s climate-related disclosure rules, recent SEC whistleblower developments, and the decades-in-the-making completion of the so-called “conceptual framework.” Tune in to learn more, or go to pli.edu/programs/seci to explore all of the SEC Institute’s helpful content.

With Kurt absent this week, Chris discusses current developments at the SEC with Sandra Hanna, who leads the securities enforcement practice at Steptoe. They discuss the short term impacts of Jarkesy, how 102(e) actions are evolving in real-time, the state of ESG enforcement after the disbanding of the Task Force, and what the SEC might look like in 2025.

Chris and Kurt sit down with Erica Williams, Chair of the Public Company Accounting Oversight Board (PCAOB). Chair Williams talks about her journey to the Chair’s office, the PCAOB’s rulemaking agenda, and the role of PCAOB inspections and enforcement. She also shares key takeaways from the PCAOB’s Sign up for email updates on the inSecurities podcast as well as PLI’s securities related programs and publications

In this special crossover episode with PLI’s Pursuing Justice podcast, hear about how pro bono clinics can help vulnerable investors protect their hard-earned retirement funds and nest eggs. Chris and Kurt are joined by Alicia Aiken, Director of the Danu Center’s Confidentiality Institute and host of PLI’s podcast Pursuing Justice: The Pro Bono Files, for an informative conversation with law professors, a recent law school grad, and an SEC attorney about their work aiding underserved retirees.

On this episode of the inSecurities podcast, Chris and Kurt sit down with Cliff Kirsch, a partner at Eversheds Sutherland and Chair of the PLI program “The SEC at 90: A Celebration and Retrospective.” Cliff shares some of his key takeaways from this half-day PLI program aimed at celebrating the past, examining the present, and looking to the future of the SEC. Among other topics, Chris, Kurt, and Cliff discuss SEC Commissioner Peirce’s call for a retroactive look at rules on the books and a refocusing on the SEC’s core competencies.

You can watch “The SEC at 90” on-demand on the PLI website: https://www.pli.edu/programs/the-sec-at-90?t=ondemand&tCode=GTZ4_ONDMD

On this episode of the inSecurities podcast, Chris and Kurt discuss recent U.S. Supreme Court decisions that will have profound impacts for the SEC and other agencies. First, our co-hosts discuss the Jarkesy case, which held that defendants in SEC enforcement proceedings have a Constitutional right to have fraud cases heard by a jury. Next, Chris and Kurt discuss Loper Bright, which overrules the decades-old Chevron doctrine, ending the presumption that courts must rely on agencies’ interpretations of ambiguous statutes.

This episode of the inSecurities podcast features a roundtable with pro bono experts who discuss the need for law school clinics that represent retail investors in FINRA arbitrations.

Nicole Iannarone, Associate Professor of Law at Drexel University Thomas R. Kline School of Law, and Christine Lazaro, Professor of Clinical Legal Education and Director of the Securities Arbitration Clinic at St. John’s University School of Law, join the podcast, along with Alicia Aiken, Director of the Danu Center’s Confidentiality Institute and host of PLI’s podcast Pursuing Justice: The Pro Bono Files, who steps in as a special guest co-host.

Keep an eye out for a forthcoming episode of Pursuing Justice that will feature interviews with past clinic participants.

SEC Chair Gary Gensler joins the inSecurities podcast to talk about how he and the Commission engage with the public, his efforts to build trust in the US capital markets, and the role of the SEC in protecting investors. Chair Gensler also discusses the SEC’s role with respect to cryptocurrencies (or “digital asset securities”) and tells us why US investors should be wary of “AI washing.”

Erik Hotmire, Co-Founder of the consulting firm Watermark Strategies, joins the inSecurities podcast to discuss key characteristics of successful corporate affairs strategies. Erik tells Chris and Kurt how he draws on his experience as former spokesperson and Senior Advisor to the Chairman of the SEC in developing bespoke strategies for clients, and how the game has changed from a stakeholder engagement perspective.

Alex Platt, an Associate Professor at the University of Kansas School of Law, joins the inSecurities podcast to discuss his latest research paper, which documents the involvement of activist short sellers in the SEC whistleblower bounty program. Professor Platt explains why this phenomenon may undermine the SEC’s goal of rooting out and deterring misconduct, and he proposes modest tweaks to the whistleblower rules to address the issue.

On the episode, Chris and Kurt also chat with Professor Platt about his past whistleblower research, including his papers “The Whistleblower Industrial Complex” and “Going Dark(er): The SEC Whistleblower Program’s Least Transparent Annual Report in Agency History.”

Award-winning journalist Diana Henriques has spent her career covering financial markets, white collar crime, and market regulation. She joins Kurt and Chris to discuss her recent book, Taming the Street: The Old Guard, the New Deal, and FDR’s Fight to Regulate American Capitalism, which chronicles the decade following the 1929 stock market crash, and the men in government and in the markets who fought to provide the framework for financial regulation that we still utilize today.

In April 2024, the SEC prevailed on insider trading charges against Matthew Panuwat, relying for the first time on a theory known as “shadow trading.” Nick Morgan of ICAN and Steve Cazares of Orrick join the inSecurities Podcast to discuss an amicus brief ICAN submitted in the Panuwat litigation, policy arguments against the “shadow trading” theory of liability, and the future of “shadow trading” cases for the SEC and DOJ.

George Wilson, Director of PLI’s SEC Institute (SECI), joins the inSecurities podcast — for a record ninth time! — to discuss highlights from the recent SECI Quarterly Newsletter (sign up HERE), including the SEC’s final climate disclosure and SPAC accounting rules, and recent developments at the Public Company Accounting Oversight Board (PCAOB) and Financial Accounting Standards Board (FASB).

Check out this recap of PLI’s program, the SEC Speaks in 2024, which Chris attended in-person in Washington DC. He provides his thoughts on the topics discussed by SEC staff as a part of the program, as well as conducting some on-the-street interviews with attendees and PLI staff. You can learn more about the program at the link below, as well as see the printed copy of SEC Commissioner remarks at the SEC website.

https://www.pli.edu/programs/the-sec-speaks?t=live

https://www.sec.gov/news/speeches-statements

Dr. Kelly Richmond-Pope has been a thought leader in the forensic accounting space for more than a decade. She joins Chris to discuss her accounting origin story, her academic research as a professor at DePaul University in Chicago, and her side gigs as a filmmaker and author, having produced and directed the 2013 documentary All the Queen’s Horses about fraud in Dixon, Illinois, and her 2023 book Fool Me Once: Scams, Stories, and Secrets from the Trillion-Dollar Fraud Industry. For more about Dr. Richmond-Pope’s work, see the links below:

https://www.kellyrichmondpope.com/

https://www.allthequeenshorsesfilm.com/

https://www.amazon.com/Fool-Me-Once-Trillion-Dollar-Industry/dp/1647823919

Matt Walsh, Founding Partner of Castle Island Ventures, a venture capital firm focused exclusively on public blockchains, joins the inSecurities podcast to talk about the regulatory landscape and market structure challenges for entrepreneurs who are building #blockchain infrastructure and application companies. Matt also tells Chris and Kurt about his podcast, On the Brink, which explores the political, ethical, and economic significance of #Bitcoin and other public blockchains.

On this episode of the inSecurities podcast, Chris and Kurt tackle commodities enforcement. Jamie McDonald, a Partner at Sullivan & Cromwell and a former Director of Enforcement at the Commodity Futures Trading Commission, and Avi Perry, a Partner at Quinn Emanuel Urquhart & Sullivan and a former Chief of the Market Integrity and Major Frauds Unit in the Department of Justice Criminal Division’s Fraud Section, offer their perspectives on civil and criminal commodities investigations and enforcement. Jamie and Avi explain how they helped shape the CFTC and DOJ enforcement programs, how the agencies coordinate on enforcement matters, and what count among the current commodities enforcement priorities for the CFTC and DOJ.

Check out our inSecurities hosts Chris Ekimoff and Kurt Wolfe as guests on this special episode of Boxes and Lines from IEX Exchange.

Josh Rubin, Vice President of Legal at Betterment, joins the inSecurities podcast to discuss Betterment’s view of the regulatory landscape. Josh explains how Betterment navigates the sometimes overlapping rules and regulations of the SEC, FINRA, DOL, IRS, FDIC, and CFPB — then tells Chris and Kurt why Betterment doesn't always line up with the rest of the financial services industry when it comes to rulemaking proposals.

Anne Kelley joins the inSecurities Podcast to unpack the federal agency appropriations process. Anne is a Partner at the legislative consulting firm, Mercury Strategies. Before joining Mercury Strategies, Anne served as a political appointee at the SEC where her work spanned five Administrations and nine SEC Chairs and Acting Chairs. On this episode, Anne explains to Chris and Kurt how most federal agencies obtain government funding, and why the SEC’s budget-setting process is unique.

On this episode of the inSecurities podcast, Chris and Kurt chat with Martha Legg Miller, the Vice President of Public Policy and Regulatory Strategy at Fidelity Investments and former Director of the SEC’s Office of the Advocate for Small Business Capital Formation. Martha talks about the role of the Advocate for Small Business Capital Formation, highlights key takeaways from the Office’s 2023 Annual Report, and discusses recent SEC rulemaking proposals, including the Predictive Data Analytics (PDA) and Climate Risk Disclosure rules.

Perianne Boring, the Founder and CEO of the Chamber of Digital Commerce, joins the inSecurities Podcast to explain why 2024 will be “the year crypto goes mainstream.” Chris, Kurt, and Perianne chat about the history and mission of The Chamber, the digital assets crypto and regulatory environment, and Perianne’s 2024 outlook for crypto.

Brett Redfearn, a former Director of the SEC’s Division of Trading and Markets and the Founder and CEO of Panorama Financial Markets Advisory, joins the inSecurities podcast to discuss the Commission’s approach to rulemaking and its recent Predictive Data Analytics (PDA) rule proposal.

On this episode of the inSecurities Podcast, Chris sits down with investigative reporter Zeke Faux to talk about his book Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall. 

Quinn Emanuel partners Michael Liftik, Sarah Heaton Concannon, and Dabney O’Riordan join this special episode of the inSecurities Podcast to unpack the SEC Division of Enforcement’s Annual Report, which was released on November 14, 2023. Kurt and the expert panel discuss the Division’s motivation to post impressive enforcement statistics and grab headlines with high impact cases. The panel also discusses programmatic priorities, including perennial focus areas like investment adviser cases, and results in litigated matters.

Vinson & Elkins partner Rebecca Fike joins the inSecurities podcast to talk about insider trading, the SEC’s use of artificial intelligence and data analytics to root out misconduct, and the Enforcement Division’s focus on reporting and disclosure cases, including Environmental, Social, and Governance (ESG) reporting. She also explains how the Commission’s focus on charging even technical violations feels a bit like the return of the “broken windows” approach to enforcement. Rebecca draws on her 10 years of experience in the Division of Enforcement to explain what captures the staff’s attention and how they investigate. 

Miller & Chevalier Partner Sandra Hanna returns to the inSecurities podcast to discuss key takeaways from the Securities Enforcement Forum 2023. Sandra and Kurt talk about SEC Chair Gary Gensler’s remarks at the conference, which covered the SEC’s annual enforcement results, crypto enforcement, and the SEC whistleblower program. They also dive into the important topic of self-reporting: When, why, and how to do it.

After their discussion on CFTC enforcement, Kurt and CFTC Commissioner Caroline D. Pham discussed the current state of crypto regulation in the United States and the CFTC’s role in policing the digital assets marketplace. Tune in for the second installment of Commissioner Pham’s interview on the inSecurities podcast.

For more insights from Commissioner Pham on crypto regulation:

• On speaking orders in enforcement actions
• On self-reporting and cooperation
• On management accountability
• On examination by enforcement
• On “insider trading” in derivatives markets
• On administrative enforcement proceedings
• On leadership and ethics

Commissioner Caroline D. Pham of the Commodity Futures Trading Commission joins Kurt on the inSecurities podcast to talk about the CFTC’s regulatory mandate, the role of CFTC enforcement, and the perils of what she calls “examination by enforcement.” Among other things, Commissioner Pham stresses the deterrent effect of holding wrongdoers accountable, the need for regulatory clarity (particularly when regulators test novel enforcement theories), and the importance of upholding the CFTC’s jurisdiction. Tune in for the second installment of this two-part episode to hear Commissioner Pham’s views on crypto regulation.

For more insights from Commissioner Pham on CFTC enforcement:

• On speaking orders in enforcement actions
• On self-reporting and cooperation
• On management accountability
• On examination by enforcement
• On “insider trading” in derivatives markets
• On administrative enforcement proceedings
• On leadership and ethics

They’ve been waiting all year long just to talk to George. On this episode of the inSecurities podcast, Chris and Kurt sit down again with SEC Institute Director George Wilson to discuss recent SEC reporting, compliance, and accounting developments, including recent signals from the SEC’s Chief Accountant Paul Munter, the state of play in crypto accounting, developments in the SEC’s Office of the Whistleblower, and — just in time for Halloween — new C&DIs in the CorpFin candy dish. Plus, Chris adds a new acronym to the inSecurities lexicon: SALY (Same As Last Year).

On this episode of the inSecurities podcast, Chris and Kurt chat with SEC Commissioner Mark T. Uyeda about the state of the U.S. capital markets, Commissioner Uyeda’s views on the SEC rulemaking process, and “the perils of regulation by theory and hypothesis.” 

In July 2023, the SEC proposed new rules that would require broker-dealers and investment advisers to address conflicts of interest that could arise from their use of predictive data analytics. On this episode of the inSecurities podcast, Chris and Kurt welcome back Professor James Tierney to talk about the proposed data analytics rule and Professor Tierney’s recent paper, “The SEC’s data analytics rule and the ‘Netflix’ problem in securities law.”

Read Professor Tierney’s paper here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4524766

J.W. Verret, an Associate Professor of Law at the George Mason University Antonin Scalia Law School and a long-time friend of the inSecurities podcast, sits down with Chris and Kurt to discuss his new paper “Disgorgement Accounting After Liu v. SEC in Securities Enforcement Cases.” Professor Verret’s article is the first to link Liu’s directives on disgorgement to fundamental accounting principles. The result is an article at the intersection of securities law and accounting. Chris, Kurt, and J.W. talk about how practitioners should think about disgorgement accounting after Liu, and where they may be able to get a leg up in negotiations with the SEC Enforcement staff.

You can read Professor Verret’s new article on SSRN here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4542940

Nick Morgan, a Partner at Paul Hastings and Founder of the Investor Choice Advocates Network (ICAN), joins the inSecurities podcast to discuss the dangers of “regulation by enforcement.” Nick, Chris, and Kurt consider two amicus briefs ICAN filed that underscore the important differences between the traditional notice-and-comment rulemaking process and the SEC’s effort to expand the rulebook through enforcement actions. 

On this episode of the inSecurities podcast, Chris and Kurt chat with Bryan Corbett, who serves as President and CEO of the Managed Funds Association, a Washington, D.C.-based industry group representing the alternative asset management industry. Bryan describes the role and advocacy work of the MFA, and discusses potential consequences of an unprecedented wave of SEC rulemakings for alternative asset managers, including the private funds proposal.

The inSecurities Accounting Summer School series returns with this “remedial” course on fundamental accounting principles from the “House of GAAP.” On this episode, Chris and Kurt break down the “matching principle” and “conservatism,” and talk about what can happen when companies get it wrong.

Chris and Kurt catch up with Jennifer Leete, partner at Cravath, Swaine & Moore and author of the newly updated SEC Compliance and Enforcement Answer Book from PLI Press. In the Answer Book, Jennifer and her co-authors draw on their extensive experience serving on the staff at the SEC to answer hundreds of real-world questions on topics such as cooperating with the SEC, handling parallel investigations, the Wells process, and remedies and sanctions; a number of substantive hot topics, like crypto investigations and cybersecurity issues; along with perennial favorites like insider trading, Foreign Corrupt Practices Act investigations, offering fraud, and more. 

On this episode of the inSecurities podcast, Chris and Kurt dive into the ever-evolving world of insider trading. This episode picks up on themes our co-hosts addressed back on Episodes 4 (A Deep Dive Into Insider Trading) and 38 (Forensic Analytics: Algorithms and Analysis in Securities Markets), and brings listeners current on new trends and developments in the area of insider trading prosecutions.

In recognition of Mental Health Awareness Month, Chris and Kurt revisit one of their favorite “off beat” episodes: On the Path to Well-Being: Expert Perspectives for Attorneys and Accountants. On this episode of the inSecurities podcast Chris and Kurt explore about some of the challenges many attorneys and accountants face, and how they can set out on a path to wellness.

First, Chris and Kurt chat with Denise Perme, Associate Director of the D.C. Bar’s Lawyer Assistance Program, to talk about drivers of substance use disorders, anxiety, depression, and stress, and to highlight resources available for professionals who need help on their path to wellness.

Next, Chris and Kurt talk with Gretchen Pisano, CEO and co-founder of pLink Leadership, and an executive coach and consultant who leans on her background in behavioral science and positive psychology to fundamentally change the way people work and lead.

There’s much to learn from this essential episode of the inSecurities podcast. Most importantly, if you are grappling with any of the issues we address in this issue, please remember that you are not alone. Reach out to an LAP Support Group, talk to your employer about resources available at or through work, or phone a friend.

Learn more about the D.C. Bar’s Lawyer Assistance Program here, and tune in to the D.C. Bar’s wellness podcast, Toward Well-Being, here.

Learn more about the ABA’s Commission on Lawyer Assistance Programs or resources in your state here.           

Learn more about pLink Leadership here.

Summer blockbuster season is right around the corner. On this episode of the inSecurities podcast, Chris and Kurt talk about three movies that hit on a number of the securities regulatory and enforcement themes that often feature on inSecurities. Hang in for the final act, when Chris previews a financial crisis-era movie that might not be on your summer viewing list.

On this episode of the inSecurities podcast, Chris and Kurt revisit Episode 47 (“Whistleblower Tips: Advice From a Former Chief of the SEC’s Whistleblower Office”), on which Jane Norberg, a partner at Arnold & Porter who previously served as the Chief of the SEC’s Whistleblower Office, discussed the SEC’s whistleblower program and how companies can develop internal reporting systems that encourage, triage, and investigate whistleblower tips.

George Wilson, the Director of PLI’s SEC Institute, joins the inSecurities podcast to talk about the recent Compliance and Disclosure Interpretations (C&Dis) — or as George likes to call them, “candies” — issued by the SEC’s Division of Corporation Finance, as well as changes in leadership at the SEC, the FASB’s take on crypto accounting, and amendments to Rule 10b5-1.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

On this episode of the inSecurities, Dabney O’Riordan, a partner at the law firm Quinn Emanuel and a former head of the SEC Enforcement Division’s Asset Management Unit (AMU), discusses the enforcement focus on private funds, registered investment advisers, and broker-dealers. She also explains the Enforcement Division’s focus on compliance with recordkeeping requirements for text messages and other “off-channel communications,” the SEC’s marketing rule, and ESG-related investment products and strategies. 

SEC Commissioner Jaime Lizárraga joins the inSecurities podcast to talk about his road to becoming an SEC Commissioner and the core values he brings to the role. Commissioner Lizárraga also offers his thoughts on the SEC’s investor protection mandate, recent SEC proposals, digital asset securities, and diversity, equity, and inclusion (DEI).

Commissioner Lizárraga encourages investors to visit Investor.gov (in English or Spanish) — the SEC’s online portal — for tips for avoiding investment fraud and for selecting investment professionals, information on understanding fees and compound interest, and other resources like financial calculators.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

On this episode of the inSecurities podcast, Chris and Kurt sit down with Joshua Rivera, General Counsel of Blockchain Capital and a member of Blockchain Association’s Board of Directors, to learn about the state of the crypto markets and how the SEC’s positions on staking, registration requirements, and the custody rule may impact the digital assets ecosystem.

inSecurities Homepage

Episode page on PLI.edu

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Former SEC Commissioner Troy Paredes joins Chris and Kurt to discuss securities regulatory policy, rulemaking, and enforcement, including potential rules or guidance relating to environmental, social, and governance (ESG) disclosures and digital asset securities.

inSecurities Homepage

Episode page on PLI.edu

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Bruce Dubinsky is a forensic accountant with experience in a number of blockbuster cases, including the Enron scandal and the Lehman Brothers collapse. Bruce has also appeared as an expert witness in matters relating to the Bernie Madoff Ponzi scheme and recently featured in the new Netflix documentary Madoff: The Monster of Wall Street. On this episode of the inSecurities Podcast, Chris and Kurt chat with Bruce about the important role of forensic accountants and his work on the Madoff matter.

The securities regulatory landscape is constantly evolving. Over the years, the federal securities laws and SEC rules have been shaped and reshaped by a number of blockbuster cases. Those cases get at key questions, such as: What is a security? How much deference do we owe the SEC to interpret the federal securities laws? Who makes statements that may form the basis of a securities fraud claim? And what is the statute of limitations for SEC enforcement action? On this episode of the inSecurities podcast, co-hosts Chris and Kurt look back at several seminal cases that have shaped the securities landscape.

Chris and Kurt mark the New Year with a look back at the biggest securities regulation and enforcement stories from 2022. The hosts revisit episodes featuring Stephanie Avakian, Michael Liftik, Carla Carriveau, Jim Toes, and Matt Jacques, whose comments and predictions remain relevant, even as we enter a new year.

As Managing Director of Enforcement at CFP Board, Tom Sporkin leads the organization’s detection, investigation, and prosecution activities. On this episode of the inSecurities podcast, Chris and Kurt chat with Tom about the CFP® certification and how CFP Board enforces its Code of Ethics and Standards of Conduct when CFP® professionals are alleged to have fallen short of their obligations.

Learn more about CFP Board and its Enforcement team here: https://www.cfp.net/.   

It’s been nearly two years since we talked cybersecurity on the inSecurities podcast. On this “Cyber Thursday” episode, Chris and Kurt bring you up to speed on important regulatory and enforcement developments that are shaping the cybersecurity landscape.

On November 15, the SEC announced its Enforcement results for Fiscal Year 2022, along with annual results from the SEC’s Office of the Whistleblower. On this bonus episode of the inSecurities podcast, Chris and Kurt discuss some of the key takeaways from the reports — and recruit help from past guests Sarah Heaton Concannon (Quinn Emanuel), Teresa Goody Guillén (BakerHostetler), Jane Norberg (Arnold & Porter), and Howard Scheck (StoneTurn) to unpack the results.

[Read the SEC’s Annual Enforcement Report here; the Whistleblower Report is here.]

On this episode of the inSecurities podcast, Chris and Kurt chat with Matt Jacques, a former Chief Accountant for the SEC’s Division of Enforcement. Matt discusses the role of the Chief Accountant, the auditor’s responsibility for identifying fraud, and a few hot topics in SEC accounting and disclosure cases, including materiality and revenue recognition. 

There’s a lot happening in the securities regulatory and enforcement space. On this episode, Chris and Kurt spin the securities wheel of fortune to pick a few hot topics, including a reminder of the auditor’s responsibility for fraud detection, an SEC Enforcement sweep involving text messages, executive compensation clawbacks, and outsourcing by investment advisers.

Security Traders Association President and CEO Jim Toes joins Chris and Kurt to unpack key themes from the STA’s 89th Annual Market Structure Conference in Washington, D.C., including crypto regulation, best execution, “gamification,” payment for order flow and other market plumbing issues. Learn more about the STA here: https://securitytraders.org/. 

On this episode of the inSecurities podcast, Kurt sits down with Knut Rostad, co-founder and president of the Institute for the Fiduciary Standard, to talk about the fiduciary standard registered investment advisors owe their clients, how the SEC interprets that standard in 2022, the challenges and opportunities for advisors created by the SEC’s interpretation and Regulation Best Interest, and what the future of the fiduciary standard might look like. Knut also shares details about panel discussions and content available through the Institute’s Fiduciary September program. Learn more here:  https://thefiduciaryinstitute.org/2022-2/. 

On this episode of the inSecurities podcast, Chris and Kurt chat with Micah Hauptman, who recently returned to the Consumer Federation of America as Director of Investor Protection, having previously served as counsel to SEC Commissioner Caroline Crenshaw. Micah talks about noteworthy accomplishments during his time at the Commission and breaks down several investor protection rules and policies CFA supports, including initiatives relating to ESG investing and complex products. 

Chris and Kurt recently attended PLI’s annual SEC Speaks conference in Washington, D.C. During the program, high-ranking SEC officials offered their views on the SEC’s top regulatory and enforcement priorities. On this episode of the inSecurities podcast, Chris and Kurt discuss their takeaways from The SEC Speaks in 2022. On the agenda: crypto regulation and enforcement, SEC rulemaking, auditing and accounting updates, and developments within the SEC’s Division of Enforcement.

Chris and Kurt discuss their initial thoughts live from PLI's The SEC Speaks in 2022 program. There’s still time to register, so click over to www.PLI.edu and sign up for the virtual attendance option, or stay tuned for a special episode next week when our co-hosts will discuss more of what they saw and heard at SEC Speaks!

On this episode of the inSecurities podcast, Chris & Kurt catch up with George Wilson, Director of PLI’s SEC Institute, to discuss recent developments at the SEC and possible changes on the horizon for FASB and PCAOB standards. Plus, to commemorate the 20th anniversary of the Sarbanes-Oxley Act, George tests Chris & Kurt with some SOX trivia.

Accounting Summer School continues as Chris and Kurt chat with Howard Scheck, a Partner at StoneTurn Group LLP and a former Chief Accountant in the SEC’s Division of Enforcement. They discuss Howard’s career as a JD/CPA, his experience in the Division of Enforcement, and his take on today’s trends in accounting and audit enforcement.

While Chris and Kurt enjoy some time away during their summer, "Accounting Summer School" continues with a rebroadcast of our episode from November 2020: A GAAP in Your Financial Reporting. On this episode of InSecurities, Chris and Kurt take a deep dive into the complex issues regarding accounting fraud and issuer disclosures. Our co-hosts discuss the basic tenets of accounting, the securities laws applicable and often charged in accounting fraud matters, and recent cases that demonstrate the SEC’s focus and messaging regarding accounting fraud and the people who commit it.

For more than 100 years, the American Institute of Certified Public Accountants (AICPA) has led the profession through triumphs and challenges in a dynamic financial reporting and auditing environment. In recent years the AICPA has collaborated with the Chartered Institute of Management Accountants (CIMA) to continue to lead accountants globally with a focus on staying current for their members and the markets as a whole.

Tom Hood, Executive Vice President for Business Growth and Engagement at the Association of International Certified Professional Accountants, joins inSecurities to talk about the history of the AICPA, today’s focus on integrity and quality, and a look to the future regarding ESG, blockchain technology, and the evolution of the accounting profession as a whole.

For more information on topics discussed in this episode, see the links below:

https://www.aicpa.org/home

https://www.aicpa-cima.com/

https://www.cimaglobal.com/

https://www.thiswaytocpa.com/

https://www.evolutionofcpa.org/

Marking 20 years since the passing of the landmark Sarbanes - Oxley Act of 2002, Chris and Kurt talk about SOX’s origin story; its perceived influence on accounting, auditing, and the law; and the lasting implications of SOX in today’s markets. They are joined by Professor James J. Park of the UCLA School of Law, who returns to the podcast after discussing SEC Enforcement trends in Episode 30, as he shares his take on SOX and talks about his upcoming book The Valuation Treadmill: How Securities Fraud Threatens the Integrity of Public Companies. (Pre-order The Valuation Treadmill today!)

Ponzi schemes are a consistent and recurring issue in our securities markets, and investors continue to fall victim to these frauds. On this episode of the inSecurities podcast, Chris and Kurt talk with Jordan Maglich, practicing attorney and founder of the law blog Ponzitracker, about what he’s seen in more than a decade of tracking Ponzi schemes, what victims of these frauds can expect in terms of recovery, and his upcoming presentation alongside Chris at the ACFE Global Fraud Conference titled “Don’t You Lie To Me: Ponzi Scheme Outcomes and Legal Theories.”

Cryptocurrency, ESG, complex products, Reg BI — there’s a lot happening in the securities regulatory and enforcement world. On this episode of the inSecurities podcast, Chris, Kurt, and InvestmentNews Senior Reporter Mark Schoeff Jr. break down some of the hot topics and trends. 

On this episode of inSecurities, Chris & Kurt chat with Mark Kim, Chief Executive Officer of the Municipal Securities Rulemaking Board (MSRB). They discuss the $4 trillion municipal securities market, the role of the MSRB, and how the MSRB is building more efficient and transparent markets.  

May is Mental Health Awareness Month, and the first week of May is Well-Being Week in Law. To complement PLI’s catalog of mental health and well-being programs, on this episode Chris and Kurt step away from the world of securities regulation to talk about some of the challenges many attorneys and accountants face, and how they can set out on a path to wellness.

First, Chris and Kurt chat with Denise Perme, Associate Director of the D.C. Bar’s Lawyer Assistance Program, to talk about drivers of substance use disorders, anxiety, depression, and stress, and to highlight resources available for professionals who need help on their path to wellness.

Next, Chris and Kurt talk with Gretchen Pisano, CEO and co-founder of pLink Leadership, and an executive coach and consultant who leans on her background in behavioral science and positive psychology to fundamentally change the way people work and lead.

There’s much to learn from this essential episode of the inSecurities podcast. Most importantly, if you are grappling with any of the issues we address in this issue, please remember that you are not alone. Reach out to an LAP Support Group, talk to your employer about resources available at or through work, or phone a friend.

Learn more about the D.C. Bar’s Lawyer Assistance Program here, and tune in to the D.C. Bar’s wellness podcast, Toward Well-Being, here.

Learn more about the ABA’s Commission on Lawyer Assistance Programs or resources in your state here.

Learn more about pLink Leadership here.

“If you want to do something extraordinary you will have to inevitably do something uncomfortable and scary.” In other words, go off the beaten path. That’s the advice of Alex Su, a lawyer turned-social media influencer, author of the Off The Record newsletter, and Head of Community Development at Ironclad. On this episode of the inSecurities podcast, Alex offers advice to professionals who are considering their next career move.  

Follow Alex on TikTok (@legaltechbro) and Twitter (@heyitsalexsu), or subscribe to his Substack newsletter, Off The Record. 

On this episode of the inSecurities podcast, Chris and Kurt chat with Kirsten Wegner, CEO of Modern Markets Initiative (“MMI”), about the rise of the retail investor, the role of market makers in promoting fair and efficient markets, and the ubiquity of algorithmic and high-frequency trading. They also learn about MMI’s efforts to promote innovative, competitive, and transparent capital markets. 

On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets, marking the “first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.” On this episode of inSecurities, Chris and Kurt sit down with experts Carla Carriveau, the Chief Legal Officer of CoinList, and Michael Liftik, a Co-Chair of Quinn Emanuel’s SEC Enforcement Practice, to find out whether the Executive Order will bring order to the regulatory chaos for crypto.  

Chris & Kurt chat with FINRA’s Deputy Head of Enforcement, Chris Kelly, to learn what it’s like on the front lines of FINRA Enforcement. Chris discusses how FINRA’s role as a self-regulatory organization helps it fulfill its regulatory mandate, what FINRA means when it says its goal is “to get to the right regulatory outcome,” and why member firms facing a potential disciplinary action should actually be open to a dialogue with FINRA.

Kurt and Chris welcome back SECI Director George Wilson to cover recent developments in SEC, PCAOB, and FASB news. George gives his take on new PCAOB leadership, goodwill accounting standards reform, recent developments around 10b5-1 plans, and the stock buyback regulations.  

Subscribe to the SEC Institute’s Quarterly Newsletter. 

Stephanie Avakian, the head of WilmerHale’s Securities and Financial Services Department and a former Director of the SEC’s Enforcement Division, talks with Chris and Kurt about changes in tone for the Division of Enforcement, current enforcement priorities, and what she’s watching on the enforcement horizon.

Robinhood is on a mission to “democratize finance for all.” Chris & Kurt sit down with Robinhood’s Deputy General Counsel, Lucas Moskowitz, to talk about Robinhood’s mission, how 2021 changed Robinhood – and the markets – for good, and what regulatory changes Robinhood spies on the horizon. They also have fun with some Robin Hood trivia.

Chris and Kurt sit down with Jesse Eisinger, senior editor at ProPublica, Pulitzer Prize-winning journalist covering the financial markets and the 2008 financial crisis, and author of The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives (2017). Their conversation focuses on reporting in the securities markets, his prophetic (and award-winning) writing about the fall of the housing market and its impacts, and his recent work as a consultant on the hit HBO show Succession.

Links for shownotes:

• “The Giant Pool of Money,” This American Life, https://www.thisamericanlife.org/355/the-giant-pool-of-money
• “You May Be Paying a Higher Tax Rate Than a Billionaire,” ProPublica, https://www.propublica.org/article/you-may-be-paying-a-higher-tax-rate-than-a-billionaire
• The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives, www.amazon.com/Chickenshit-Club-Department-Prosecute-Executives/dp/1501121367   

Ring in the New Year with inSecurities! Guests on the inSecurities podcast keep listeners current on the latest securities regulatory and enforcement developments. On this special New Year’s Eve episode of the podcast, Chris and Kurt visit with past guests at a virtual cocktail party, including SEC Commissioner Hester Peirce, Jane Norberg, and professors Daniel Taylor, James Tierney, J.W. Verret, and Karen Woody. Tune in to learn how the regulatory landscape is changing, and hear our guests’ 2022 securities regulatory resolutions. Cheers! 

2:30 – Dan Taylor  

11:00 – Hester Peirce 

19:20 – Karen Woody 

26:55 – James Tierney   

38:00 – Jane Norberg 

45:06 – JW Verret 

https://www.pli.edu/insecurities 

In this episode of the inSecurities podcast, Chris and Kurt sit down with FINRA Head of Enforcement Jessica Hopper to talk about the role of FINRA Enforcement and several of FINRA’s enforcement priorities – including “finfluencers,” cybersecurity, and complex products – and then bust a few myths about FINRA Enforcement.

Tune in to this episode of FINRA’s own podcast, Unscripted, to hear more from Jessica: https://www.finra.org/media-center/finra-unscripted/enforcement-jessica-hopper-introduction

https://www.pli.edu/insecurities 

SEC Commissioner Allison Herren Lee sits down with Chris & Kurt to share her views on how the Commission might enhance investor protection and increase transparency in private markets and update the ESG disclosure regime to meet the needs and demands of investors . . . along with the benefits of “beautiful accounting footnotes.”  

Be sure to read Commissioner Lee’s recent speech, “Going Dark: The Growth of Private Markets and the Impact on Investors and the Economy,” available here: https://www.sec.gov/news/speech/lee-sec-speaks-2021-10-12 

https://www.pli.edu/insecurities

The SEC’s Division of Enforcement just released its enforcement results for FY2021. On this special episode, Chris and Kurt break down the results with Quinn Emanuel partner, Sarah Heaton Concannon.

https://www.pli.edu/insecurities

Nebraska College of Law Professor James F. Tierney explains how many apps incorporate design features — sometimes called “gamification” — to influence investor behavior. Professor Tierney also explores with Chris & Kurt some of the regulatory and policy implications of those design features. 

https://www.pli.edu/insecurities

As a bonus feature, we are sharing an episode of the ACFE’s Fraud Talk podcast entitled “Understanding the Art and “Science” of the Theranos Saga,” on which our very own Chris Ekimoff appeared as a special guest. On the episode, released during International Fraud Awareness Week, Chris and Mandy Moody, CFE, ACFE communications manager, discuss the latest from the trial of former Theranos CEO Elizabeth Holmes.

https://www.pli.edu/insecurities

In October, the SEC released its long anticipated “GameStop Report.” Ty Gellasch, a market plumbing expert and Executive Director of Healthy Markets, gives Chris & Kurt his take on the report.

The securities regulatory and enforcement world was buzzing after PLI’s annual SEC Speaks program. From ESG to SPACs, and from “gamification” to corporate penalties, the conference hit all the hot topics. On this episode of inSecurities, Chris & Kurt share their “Four Big Things” to take away from The SEC Speaks in 2021:  Requiring admissions in SEC enforcement actions; zero tolerance for auditor independence violations; regulating the robo-advisors; and cryptocurrency in the Wild West. 

Watch SEC Speaks On-Demand at https://pli.edu/programs/SECspeaks

There’s so much to learn at PLI’s 53rd Annual Institute on Securities Regulation! Chris and Kurt sit down with program Co-Chairs Meredith Cross of WilmerHale, Keir Gumbs of Broadridge Financial Solutions, and Carmen Lawrence of King & Spalding to hear what the program has to offer. 

Please visit https://www.pli.edu/insecurities for more information.

Whistleblower tips are streaming into the SEC, so it’s critically important for companies to develop effective parallel internal reporting systems. Jane Norberg, a partner at Arnold & Porter who previously served as the Chief of the SEC’s Whistleblower Office, chats with Chris and Kurt about the state of the SEC’s whistleblower program and how companies should encourage, triage and investigate whistleblower tips.

Link to podcast page on PLI.edu

It’s time to rethink securities law, argues SMU Dedman School of Law Professor Marc Steinberg in his latest book Rethinking Securities Law. There are “many deficiencies and inconsistencies in the current regimen,” he says. Chris and Kurt sit down with Professor Steinberg to discuss his recommendations.

Learn more about the book, or purchase online, at via Oxford University Press: https://global.oup.com/academic/product/rethinking-securities-law-9780197583142?cc=us&lang=en&

Chris & Kurt sit down with George Wilson, Director of PLI’s SEC Institute (SECI), to talk about SEC Chair Gary Gensler’s regulatory agenda and priorities, including ESG and other accounting and disclosure hot topics featured in the forthcoming SECI Quarterly Newsletter. 

Link to episode page on PLI.edu

https://www.pli.edu/insecurities

We’d like to share an episode from PLI’s sister podcast, Pursuing Justice: The Pro Bono Files. Listen as host Alicia Aiken is joined by Indiana pro bono stakeholders Charles R. Dunlap, Judge Melissa S. May, Kelly Tautges and Scott Wylie for an important conversation: “Turning Crisis Into Opportunity.” 

Running a pro bono program costs money ‒ and Indiana’s statewide legal services program faced a serious financial challenge. Find out how these Indiana pro bono stakeholders pulled together and, with a law firm’s help, turned a financial crisis into an opportunity. 

Chris & Kurt chat with Wes Bricker, a former Chief Accountant at the SEC and current Vice Chair and Co-Leader of US Trust Solutions at PwC, about how the SEC’s Office of the Chief Accountant works, perennial accounting hot topics, and emerging issues relating to meme stocks, SPACs and ESG disclosures.

Everyone’s talking about SPACs – and not just in the securities reg world! This week on inSecurities, we dive into special purpose acquisition companies, or “SPACs,” to figure out what they are, how they work, and what they mean for investors and startups looking for a quick route to “go public. | Please take a moment to fill out our listener survey! Episode page on PLI.edu can be found here

Happy Fourth of July from inSecurities! In this episode, Chris & Kurt reflect on several milestones (including crossing the 10,000 downloads mark!), how the COVID-19 pandemic has changed our lives and practices, and some of our favorite inSecurities guests and episodes.  

Love the inSecurities podcast? Don’t forget to rate and review the podcast on Apple Podcasts, or wherever you listen to podcasts. And please take a moment to fill out our new listener survey!

----more----

Link to podcast page on PLI.edu

Link to listener survey

Many are eager to see how the SEC will approach investment adviser/broker-dealer regulation and enforcement in the Biden Administration. On this episode of inSecurities, SEC Commissioner Caroline Crenshaw shares her views on how the Commission’s investor protection mission guides her approach to Regulation Best Interest, enforcement, and setting corporate penalties. The Commissioner also offers some thoughts on cybersecurity and showtunes to round out the conversation.

Kurt chats with Cliff Kirsch of Eversheds Sutherland about the benefits of PLI’s investment adviser and broker-dealer resources, and about Cliff’s many contributions to PLI programs and publications, including the upcoming live webcast Securities Law and Practice 2021: How the SEC Works on June 28. 

----more----

Link to PLI's Broker Dealer Blog

Link to product details page for Securities Law and Practice 2021: How the SEC Works

Link to Cliff Kirsch's PLI Biography and Associated Items

Professors Alan Jagolinzer and Dan Taylor join the podcast to discuss recent research using forensic analytics, and share insights with Chris and Kurt on how that analysis impacts legislative, regulatory, and enforcement decisions in today’s securities landscape.

Kimberly Ellison-Taylor and Genna Garver are champions for diversity and inclusion. They talk with Chris & Kurt about actionable steps to promote diversity and inclusion in the accounting and legal professions.

The PLI program Enforcement 2021: Perspectives from Government Agencies offers a unique opportunity to hear directly from senior staff at various government agencies. Chris and Kurt get a sneak peek at the program from Co-Chairs Robert A. Cohen (Davis Polk), Joan E. McKown (Jones Day) and Richard D. Owens (Latham & Watkins).

Register here: https://www.pli.edu/programs/enforcement-perspectives-from-government-agencies?t=live

ESG investing and climate risk disclosure are hot topics at the SEC. Chris & Kurt sit down with Commissioner Hester Peirce to talk about materiality, the disclosure framework, and crafting the perfect speech title.

Chris and Kurt chat with cybersecurity regulatory and policy experts Chris Hetner and Robert Peak about cyberthreats that emerged during the COVID-19 pandemic, the federal and state cybersecurity regulatory landscape, and cybersecurity regulatory priorities in the Biden Administration

Chris and Kurt sit down with Larry Ritchie of Osler, Hoskin & Harcourt, and Stephanie Greenwald of RSM to talk about distinctions between US and Canadian securities regulation and enforcement, and how we should think about emerging cross-border issues.

Chris and Kurt chat with SEC Institute Director George Wilson about hot topics in the SECI’s quarterly newsletter, including leadership transitions at the SEC, MD&A and other disclosures in the time of COVID-19, SPACs, ESG and changes at the PCAOB.

Chris and Kurt chat with David Miller, a Shareholder at Greenberg Traurig, who serves as a technical advisor to the writers of Showtime’s hit drama series Billions. David shares the experiences that qualify him to consult on the show and explains how the writers work tirelessly to “get it right.” He also answers tough questions like “Wags or Wendy” and “Taylor Mason or Dollar Bill.”

SPACs, conflict minerals, ICOs, ESG, the STOCK Act, the FCPA and more . . . Chris and Kurt sit down with professors Karen Woody of the Washington & Lee University School of Law and James Park of the UCLA School of Law to discuss securities regulatory and enforcement trends that may develop in the Biden Administration.

Chris and Kurt chat with Russ Ryan about his popular newsletter On SECond Thought… and what he sees on the horizon for SEC enforcement. They also explore Russ’s reputation for playing hardball . . . in an adult baseball league.

On this episode of inSecurities, Chris and Kurt introduce you to a few of their favorite podcasts, including short interviews with Jeff Benjamin, co-host of The Investment News Podcast; Amber McKinney, co-host of the Law360’s Pro Say; Mandy Moody, host of ACFE’s Fraud Talk; and Andrew Jennings, host of the Business Scholarship Podcast. Tune in!

Link to episode on pli.edu: https://www.pli.edu/insecurities/episode-28

----more----

The InvestmentNews Podcast: https://www.investmentnews.com/podcasts/the-investmentnew-podcast

Pro Say: https://www.law360.com/podcasts

Fraud Talk: https://www.acfe.com/podcast

Business Scholarship Podcast: https://andrewkjennings.com/podcast/

Chris and Kurt take a break from their usual recording schedule to reflect on some of their favorite moments from year one of the inSecurities podcast.

The SEC’s whistleblower program shattered records in 2020. On this episode of the inSecurities podcast, Chris and Kurt take a look at the numbers and break down recent amendments to the SEC’s whistleblower rules. Our co-hosts also chat with New York Times best-selling author Tom Mueller about challenges many whistleblowers face, the state of the SEC’s whistleblower program, and his book, Crisis of Conscience: Whistleblowing in an Age of Fraud. 

----more----

FY2020 was a year unlike any other for SEC enforcement. Chris, Kurt and Sandra Hanna, managing partner of Bruch Hanna, unpack key themes and trends from the SEC Enforcement Division’s Annual Report. Are we entering an era of “smart enforcement”? Tune in to find out. 

----more----

Link to the podcast page for this episode

Link to the inSecurities homepage

Chris and Kurt talk about what a Biden administration could mean for the U.S. Securities and Exchange Commission and the securities regulatory landscape.

----more----

Link to the podcast page for this episode

Link to the inSecurities homepage

On this episode of PLI's inSecurities, Chris and Kurt take a deep dive into the complex issues regarding accounting fraud and issuer disclosures. Our co-hosts discuss the basic tenets of accounting, the securities laws applicable and often charged in accounting fraud matters, and recent cases that demonstrate the SEC’s focus and messaging regarding accounting fraud and the people who commit it. 

----more----

Link to the podcast page for this episode

Link to the inSecurities homepage

Each year PLI presents, in cooperation with the U.S. Securities and Exchange Commission, The SEC Speaks program, which provides an essential update on the current initiatives as well as the priorities of the Commission for the coming year. On this episode of inSecurities, Chris and Kurt discuss their takeaways - and top tweets - from The SEC Speaks in 2020. 

----more----

Link to the podcast page for this episode

Link to the SEC Speaks in 2020 Product Page

Link to the inSecurities homepage

On this episode of the inSecurities podcast, Chris and Kurt chat with John Ramsay of IEX and Dan Eisemann of MFS about algorithmic and high-frequency trading. John and Dan also tell us how technological innovations, new trading strategies, and regulatory changes are reshaping the U.S. equity markets.

Link to podcast page

On this episode of PLI's inSecurities podcast, Chris and Kurt sit down with several current 3Ls and recent grads to talk about their experiences looking for jobs during the COVID-19 pandemic. Chris and Kurt also have a wide-ranging conversation with career counselors from GW Law, Howard Law and the University of Richmond School of Law about how students can prepare for a different kind of recruiting cycle, and why there’s reason to be optimistic. 

On this episode of inSecurities, Kurt and Chris cover the past quarter’s developments in SEC, PCAOB, and FASB news with repeat guest George Wilson of PLI’s SEC Institute. They revisit their predictions from Episode 4 back in March, and George speaks to current developments in COVID relief, financial reporting disclosures, and proxy rules, as well as the state of the whistleblower environment, in conjunction with the publication of SEC Institute’s Quarterly Newsletter for September 2020.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of the Practising Law Institute.

In this episode of PLI's inSecurities Podcast, Chris and Kurt discuss the legislation that created the SEC during the Great Depression, the evolution of the Commission in the decades since, and the increasingly prominent role of the SEC’s Enforcement Division. In addition, Jim Barratt, a Trustee at the SEC Historical Society, talks about the Society’s mission and shares resources available to practitioners in the securities industry.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

It is well known that auditors play a key role in providing assurance regarding financial information presented by publicly traded companies. It is less well known, however, that the Public Company Accounting Oversight Board — created under the Sarbanes-Oxley Act of 2002 — is charged with regulating registered audit firms and ensuring that the audit function benefits the public and the profession.

In this episode of inSecurities, Kurt and Chris speak with Robert Peak, a PCAOB official, and Jovy Dedaj, a trial attorney with experience in accounting firm oversight issues, and delve into the details of auditors, PCAOB inspections, and sanctions and enforcement actions taken against accounting firms as the PCAOB performs its mission.

In January, Kurt and Chris served up their top five trends to watch in the securities regulatory and accounting space in 2020. (Check out Episode 2 for details!) Now that we are halfway through this unpredictable year, the inSecurities podcast co-hosts revisit their predictions and talk about how 2020 has taken shape so far. Kurt and Chris also take a peek around the corner, offering some tips on what to watch for in the second half of the year. 

In this episode of inSecurities, Chris and Kurt chat with cryptocurrency experts Teresa Goody Guillen, Usman Sheikh and Jason Somensatto about the ever-changing regulatory landscape for digital assets and distributed ledger technology.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Chris and Kurt talk about what the Fourth means to them, what the SEC usually gets up to on July 4th, and how Independence Day often signals the start of the summer slowdown for securities regulatory and enforcement practitioners. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

On this episode of inSecurities, Chris and Kurt explore the wide-ranging universe of coronavirus-related fraud schemes with Fabio Leonardi, an Assistant United States Attorney and the Coronavirus Fraud Coordinator for the Northern District of Texas, and Lesley Brovner, a defense attorney in Manhattan and seasoned prosecutor who served as the former First Deputy Commissioner of New York City’s Department of Investigation. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

In this episode of inSecurities, we’d like to spotlight an episode from PLI’s sister podcast Pursuing Justice: The Pro Bono Files. Listen as host Alicia Aiken is joined by guests Brad Karp, Jean McLoughlin and Robert Atkins from Paul, Weiss for an important dialogue: "Pro Bono in a Pandemic: A Law Firm Goes All In." As soon as it became clear that COVID-19 was going to have a major impact on the United States, Brad Karp, Chairman of the law firm Paul, Weiss, started thinking about how he could help people get through what was coming. From the firm's headquarters in New York City, Brad emailed 1,000 Paul Weiss lawyers to ask one simple question, "Who wants to work on a pro bono project to help people and small businesses affected by COVID-19?"

Link to the Coronavirus Relief Center can be found here

Link to Pursuing Justice: The Pro Bono Files can be found here

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Legal business development and marketing experts Deborah Farone and Stefanie Marrone talk with Chris and Kurt about the strategies and tactics they leverage to help law firms, individual attorneys and practitioners build thriving practices. From increasing revenues, to expanding networks, to improving the quality of client relationships, Deborah and Stefanie offer advice and experience on the simple things that can make a big difference in business development outcomes. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Public companies, investors, and financial services firms may be subject to state securities laws, sometimes called “Blue Sky Laws.” At the heart of the state regulatory system is the North American Securities Administrators Association (NASAA), which represents state and provincial securities regulators in the United States, Canada, and Mexico. On this episode of inSecurities, we chat with NASAA’s General Counsel, Vince Martinez, about the role of NASAA, some of its members’ policy positions, and its relationship to the SEC and other securities regulatory agencies. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

On this episode of inSecurities, Chris and Kurt chat with Dean Jessica Tillipman (GW Law) and Professor Andrew Spalding (UR Law) about Foreign Corrupt Practices Act enforcement trends and policy, and about several noteworthy cases that test the bounds of FCPA jurisdiction. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

The novel coronavirus known as COVID-19 has rapidly spread around the globe, causing a healthcare crisis, business disruptions, and extraordinary market volatility.  As regulatory authorities grapple with the appropriate responses to the COVID-19 pandemic, so do law firms, accounting firms and practitioners.    Recording from home, in this episode Chris and Kurt have an informal conversation about COVID-19 and its impact on their personal and professional lives.  Listen as they discuss some of the issues they're confronting: how they've adjusted their working styles and schedules, challenges from a practice development perspective, and some unexpected silver linings.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Link to the podcast page on the PLI website. 

PLI’s SEC Institute gathers and disseminates relevant SEC, PCAOB, FASB, and legal industry updates on a quarterly basis with the SEC Institute Newsletter. On this episode of inSecurities, Chris and Kurt discuss the most recent newsletter with George Wilson, Director of the SEC Institute, with a focus on new pronouncements regarding SEC Filings and Management’s Discussion & Analysis, Shareholder Proposal rulemaking, LIBOR transition, ESG disclosures, and a brief discussion of COVID-19 and its impact on the financial and legal world. 

On this episode, Chris, Kurt and George talk a little bit about the regulatory response to the coronavirus (COVID-19) and how public companies should be thinking about related disclosures. We recognize that COVID-19 presents a novel and fluid situation, and there have been further developments since we recorded this episode. For the latest updates on the SEC’s coronavirus response, click here. And for the latest updates from FINRA, click here.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

On this episode of inSecurities, Kurt and Chris discuss whistleblower rules and the explosion of tips from whistleblowers to the SEC and other government agencies in recent years. Joining them on this episode is Matt Stock, a Washington D.C. attorney who represents whistleblowers before the SEC and other regulatory agencies.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Equity market structure reform is largely a bipartisan issue. On this episode of inSecurities, Chris and Kurt take a look at the structure of our stock markets with two special guests, former SEC Commissioner Robert Jackson and George Mason Law Professor J.W. Verret. 

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

This week on inSecurities we'll be doing the first of our 'Deep Dive' series, where we go in-depth on a single topic to give you an overall idea of what that topic is all about. In this episode, we take a look into the world of insider trading. Whether it's complex plans or simple ideas to trade against the market, insider trading impacts both the headlines and the securities markets across a variety of areas.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

The SEC’s OCIE and FINRA recently released their 2020 exam priorities. Today on the show, we’ll explore what the priorities tell us.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Kurt and Chris break down their top five securities, regulatory, and enforcement developments to expect in 2020, including blockbuster cases coming down the pike, SEC enforcement trends and more.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

2019 was a remarkable year in the securities regulatory and enforcement space. In this episode of inSecurities we’ll break down record enforcement results, vigorous dissents to rulemaking packages and legislative fixes to thorny legal issues.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.

Welcome to inSecurities, a new podcast from the Practising Law Institute. Hosted by Chris Ekimoff, a forensic accountant, and Kurt Wolfe, a securities regulatory attorney, inSecurities is an in-depth biweekly podcast showcasing practitioner perspectives on changes within the securities field. Chris and Kurt discuss how changes to the rules and regulations will affect your businesses or your clients while providing background from two separate but overlapping perspectives.

In an increasingly complex business environment where intricate corporate structures reign, tune into inSecurities to help make sense of it all.

Please note: CLE and CPE credit are not offered for listening to this podcast, and the views and opinions expressed within represent those of the speakers and not necessarily those of PLI.