inSecurities is a biweekly podcast featuring in-depth conversations with senior regulators, top practitioners, and leading academics, along with "deep dives" on hot topics in the securities regulatory and enforcement world.

 

In an increasingly complex business and regulatory environment, inSecurities co-hosts Chris Ekimoff, a forensic accountant, and Kurt Wolfe, a securities enforcement attorney at Quinn Emanuel Urquhart & Sullivan, keep you current on key developments.

 

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.

spotify-podcast-badge-blk-grn-165x40.png google_podcasts_badge_svg.svg US_UK_Apple_Podcasts_Listen_Badge_RGB.svg

Episodes

102. Commissioner Uyeda on “the Perils of Regulation by Theory and Hypothesis”

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.”

101. Addressing the “Netflix Problem” in Securities Regulation

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

100. How much in disgorgement!?

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

99. The Dangers of Regulation by Enforcement

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.

98. Alternative Asset Managers in the Crosshairs

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.

97. (Remedial) Accounting Summer School

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.

96. Opening the Securities Enforcement Answer Book

On this episode of the inSecurities podcast, 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.

95. A View From the Inside

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.

94. Replay - On the Path to Well-Being: Expert Perspectives for Attorneys and Accountants

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.

93. inSecurities Goes to the Movies

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.

92. Whistling the Same Tune: Building an Effective Whistleblower Program

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.

91. The CorpFin Candy Dish

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.

90. Compliance and Enforcement Considerations for Private Funds & RIAs

On this episode of the inSecurities Podcast, 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—in particular, 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.

89. Commissioner Jaime Lizárraga’s Core Values

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

88. Crypto Winter in Washington

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.

87. Paredes on SEC Policies & Priorities

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.

86. An Expert on the “Monster of Wall Street”

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 was 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.

85. Blockbuster Securities Cases

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.

84. Crypto, Best Ex, Gatekeepers, Enforcement: The Biggest Stories From 2022

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.

83. Setting the Standard: Tom Sporkin on CFP Board Enforcement

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/.

82. CYBER THURSDAY!

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.

81. BONUS EPISODE: Unpacking the Annual SEC Enforcement Report

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.]

80. Accounting for Enforcement

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.

79. Securities Wheel of Fortune

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.

78. Securities Regulation at an Inflection Point

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/.

77. The Highest Duty of Care: Preserving the Fiduciary Standard 

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/.

76. Investor Protection for ESG Investing and Complex Products

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.

75. Top Takeaways from The SEC Speaks in 2022

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.

74. TEASER – SEC Speaks from the Conference Floor

Chris and Kurt discuss their initial thoughts live from the SEC Speaks in 2022 program from PLI. There’s still time to register, so click over to 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!

73. FASB, the Climate, and SOX. Oh my!

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.

72. Accounting & Audit Enforcement Trendspotting

Accounting Summer School continues as Chris and Kurt chat with Howard Sheck, 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.

71. A GAAP in your Financial Reporting: Focusing on Accounting & Disclosure Issues (Rebroadcasted)

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.

70. AICPA, CIMA, and the Future of Accounting

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.

69. Securities Fraud 20 Years After SOX

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!)

68. Tracking Ponzi Schemes With Jordan Maglich     

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.”

67. Covering the Commission with Mark Schoeff Jr.

Cryptocurrency, ESG, complex products, Reg BI – there’s a lot happening in the securities regulatory and enforcement world.

66. Inside the Municipal Securities Market: A Conversation with Mark Kim

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. 

65. On the Path to Well-Being: Expert Perspectives for Attorneys and Accountants

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 of the inSecurities podcast 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.

64. Going Off the Beaten Path with Alex Su

“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.

63. Innovative Markets: Where Retail Investors and Market Makers Meet

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.

62. Bringing order to the regulatory chaos for crypto?

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.

61. On the Front Lines of Investor Protection

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.

60. FASB, PCAOB & the SEC: Alphabet Soup with SEC Institute’s George Wilson

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.

59. A Former Director of Enforcement Peeks Around the Corner

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.

58. Capitalism, Democracy and Innovation: Robinhood Continues to Change the Game

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.

57. Investigative Journalism, Securities Markets, and Succession with Jesse Eisinger

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.

56. Cheers! Regulatory Resolutions & More at the inSecurities NYE Party

Ring in the New Year with inSecurities! On this special New Year’s Eve episode, 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!

55. Focus on FINRA Enforcement with Jessica Hopper

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.

54. Full Disclosure: Commissioner Lee on Private Markets and ESG

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.”

53. Special Episode: The 2021 SEC Enforcement “Report”

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

52. Play It Again: An Expert’s Take on Gamification & Stock Trading

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.

51. Bonus Episode: ACFE Fraud Talk

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.

50. The SEC GameStop Report: An Expert’s Take

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.

49. Four Big Things from The SEC Speaks in 2021

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.

48. “Greatest and Latest”: PLI’s Annual Institute on Securities Regulation

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.

47. Whistleblower Tips: Advice from a Former Chief of the SEC’s Whistleblower Office

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.

46. Time to Rethink Securities Law?

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.

45. Reg Flex: What’s on Gary Gensler’s Regulatory Agenda?

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.

44. Featuring PLI’s Pro Bono Podcast ‒ Pursuing Justice: The Pro Bono Files

We’d like to share an episode from PLI’s sister podcast, Pursuing Justice: The Pro Bono Files. Running a pro bono program costs money ‒ and Indiana’s statewide legal services program faced a serious financial challenge. Find out how Indiana pro bono stakeholders pulled together and, with a law firm’s help, turned a financial crisis into an opportunity.

43. A Former Chief Accountant’s Views on CPAs and the SEC

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.

42. A Deep Dive Into SPACs

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.”

41. Inside the Studio: 10,000 Reasons to Celebrate

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.

40. Enforcing the Regulations – A Conversation with Commissioner Crenshaw

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.

39. It’s All About Connecting: The Value of PLI’s IA/BD Programs

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.

38. Forensic Analytics – Algorithms and Analysis in the Securities Markets

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.

37. Courage, Compassion and Action: Promoting Diversity & Inclusion

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.

36. SNEAK PEEK: Enforcement 2021: Perspectives from Government Agencies

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).

35. Is ESG About Value or Values? A Conversation with Commissioner Peirce

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.

34. Cyber Risks and Regulation in 2021 and Beyond

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.

33. Securities North of the Border – Comparing US and Canadian Regulations & Enforcement

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.

32. MD&A, SPACs, ESG—Acronyms and More with George Wilson

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.

31. How Does Billions Get It Right? Tricks of the Trade from the Show’s Technical Advisor

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.”

30. From Capital Formation to Enforcement: Law Professors Share Their Take on President Biden’s SEC

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.

29. On SECond Thought: Russ Ryan on SEC Enforcement

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.

28. A Few of Our Favorite Things: Podcasts You’ll Love

Chris and Kurt introduce you to a few of their favorite podcasts, including short interviews with Jeff Benjamin, co-host of The InvestmentNews 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.

27. inSecurities Holiday Special: The Best of 2020

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.

26. Whistleblowing’s New Frontier: A Conversation with Tom Mueller

The SEC’s whistleblower program shattered records in 2020. 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.

25. Assessing the SEC Enforcement Division’s Annual Report

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.

24. Election 2020 Special: Securities Regulation & Enforcement in a Biden Administration

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

23. A GAAP in Your Financial Reporting: Focusing on Accounting & Disclosure Issues

Chris and Kurt take a deep dive into the complex issues regarding accounting fraud and issuer disclosures. They 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.

22. The SEC Speaks in 2020 – Our Top Takeaways and Tweets

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, Chris and Kurt discuss their takeaways — and top tweets — from The SEC Speaks in 2020.

21. Trading Fast and Slow: Innovation in our Equity Market Structure 

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.

20. Legal Recruiting During COVID-19: Perspectives from Law Students, Recent Grads and Career Counselors

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.

19. Catching Up with SEC Institute’s George Wilson

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.

18. The SEC Then and Now – A Brief History of the SEC and a Visit with the SEC Historical Society

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.

17. Watching the Watchers – The PCAOB’s Role Overseeing Audit Firms

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. Join Kurt and Chris as they 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.

16. Mid-Year Musings – A Look Back, Plus What to Expect in 2020

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.

15. From DLT to ICOs – Experts Explore the Cryptocurrency Landscape

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.

14. Fourth of July Special: Grillside Chat with Kurt & Chris

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.

13. Prosecuting Fraud in the Time of COVID-19

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.

12. A Spotlight on PLI’s Pro Bono Podcast

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.’

11. Business Development for Lawyers & Law Firms - A Conversation About Marketing, Selling, and Social Media in Today’s Legal Environment

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.

10. Blue Skies: NASAA’s GC on State Securities Regulation

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.

9. FCPA Policy and Enforcement: A Conversation with Jessica Tillipman and Andy Spalding

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.

8. Chris & Kurt on Working from Home During COVID-19

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.

7. A Conversation with George Wilson of PLI’s SEC Institute

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.

6. Inside the World of Whistleblowers - A Conversation with Attorney Matt Stock

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.

5. A Conversation with Robert Jackson and J.W. Verret about Market Structure

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 special guests former SEC Commissioner Robert Jackson and George Mason Law Professor J.W. Verret.

4. A Deep Dive into Insider Trading

This week on inSecurities we'll be doing the first of our 'Deep Dive' series. In this series, we’ll go in-depth on a single topic to provide an all-encompassing 360 degree view of it. 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.

3. Exam Priorities Plus

The SEC’s OCIE and FINRA recently released their 2020 exam priorities. Episode three of inSecurities will explore what the priorities tell us.

2. Looking Ahead to 2020

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.

1. 2019 in Review

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

Sign up today for a PLI account at no cost

Browse our library of authoritative programming and take care of all your CLE or CPE needs

 

Meet the Hosts:

 

Chris Ekimoff

When the numbers don't add up or financial litigation is on the horizon, Chris brings the insight his clients need to balance the books. Chris has provided litigation consulting and forensic accounting services — including as an expert witness —in internal investigations, and regarding financial reporting questions, allegations of accounting and auditing malpractice, and other complex financial and accounting issues. As a CPA/CFF and Certified Fraud Examiner, Chris has experience in investigating both the fraud in the financials, and the people who are alleged to have committed it.

icons8-twitter-50-3.png  icons8-linkedin-50-4.png

Kurt Wolfe

Kurt helps clients untangle thorny compliance issues, investigate allegations of misconduct and respond to government enforcement inquiries. Kurt is an Of Counsel in Quinn Emanuel’s SEC Enforcement practice where he represents public and private companies in a wide range of investigations and enforcement proceedings. During his career, Kurt has successfully represented clients in numerous bet-the-company matters, including matters stemming from the Allen Stanford Ponzi scheme, Operação Lava Jato in Brazil, the Scott Rothstein Ponzi scheme, and the Adelphia accounting scandal. Kurt is a recognized thought leader in the securities regulatory and enforcement space, and has written or contributed to stories for Bloomberg, CBS News, Compliance Week, The Hill, The New York Times, NPR, Reuters, and Yahoo! Finance.

icons8-twitter-50-3.png icons8-linkedin-50-4.png

Please Note: The opinions, points-of-view and other insights expressed by co-hosts Chris Ekimoff and Kurt Wolfe are their own and do not represent those of The Practising Law Institute (PLI), RSM US LLP, or Quinn Emanuel Urquhart & Sullivan, LLP.

Related PLI Securities Programs

SEC Institute Blog

Visit the SEC Institute Blog for updates and discussions regarding FASB and the SEC

Related SECI Programs