Top 5 SEC Enforcement Developments For March 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This month's installment features:

• An undisclosed CEO perks settlement based, in part, on a related-party transaction;
• A settled cyber enforcement action based on a ransomware attack;
• An allegedly fraudulent digital asset offering touted by well-known celebrities;
• A settlement in SEC v. Vale S.A., an ESG disclosure case; and
• A revenue recognition case involving inflated estimates at completion or EACs.

1. Greenbrier and Former CEO Agree to Pay $1.1 Million for Failing to Disclose Perks and Payments