Jan. 27 Webcast Materials
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Kevin J. O’Connor to Join Bracewell and Giuliani in Hartford, Conn.
Kevin J. O’Connor, the former Connecticut U.S. Attorney who has been serving as associate U.S. Attorney General in the DOJ since last spring, will join the law firm of Bracewell and Giuliani starting February 2. O’Connor will join the firm’s Hartford office, the Connecticut Law Tribune reports. O’Connor also previously served as staff attorney and [...]
Report: SEC Investigating Alleged $1 Billion Fraud at Satyam
The SEC is reportedly investigating whether India’s Satyam Computer Services Ltd. misled investors in an alleged $1 billion accounting fraud. Bloomberg reports that SEC officials have discussed the case with regulatory counterparts in India and plan to coordinate their inquiries concerning Satyam. The SEC has jurisdiction over Satyam because Satyam’s American Depositary Receipts (ADRs) trade [...]
SEC Commissioner Aguilar Calls for Commission to Have Power to Bring Criminal Cases
As discussed here in detail, SEC Commissioner Luis Aguilar’s January 10, 2009 speech entitled, “Empowering the Markets Watchdog to Effect Real Results” included several specific “internal shifts in policy” that he would like to see made immediately to boost the SEC’s ailing Enforcement Division. Another point in the speech, however, that escaped our notice in [...]
Jenner & Block’s Anton Valukas Selected as Examiner in Lehman Brothers Bankruptcy Case
Anton Valukas has been selected today as the examiner in the Lehman Brothers bankruptcy case. Valukas is an attorney and the chairman of the law firm Jenner & Block, and was formerly U.S. attorney for the Northern District of Illinois. The AP reports that Valukas’ investigation will help determine whether Lehman executives lied, committed fraud [...]
January 28 Webcast: FCPA Enforcement — The Paradigm Shift of 2008
On January 28, 2009, KPMG Forensic is sponsoring a webcast that will shed light on the game-changing developments in 2008 in the enforcement of the Foreign Corrupt Practices Act. 2008 brought FCPA settlements of previously unthinkable amounts (including the historic Siemens settlement), but also important new trends such as: increasingly aggressive enforcement against individuals; ramped [...]
Securities Docket News Wire for Jan. 19, 2009
Madoff front-man Robert Jaffe took 1-2% of investors’ first profits in return for providing access to exclusive “club.” http://is.gd/gtZx # SEC Chief of Staff Peter Uhlmann Departing Commission. http://is.gd/gtMs # Ruling in Aon Securities Case Helps Protects Drafts of SEC Filings from Discovery. http://is.gd/gtn3 # Mark Cuban Tells SEC How to Get to Bottom of [...]
Ruling in Aon Securities Case Helps Protects Drafts of SEC Filings from Discovery
A recent ruling in the Aon securities class action provides important protection from discovery for companies’ drafts of Form 10-K language. In an order dated January 9, 2009, Magistrate Judge Morton Denlow of the US District Court for the Northern District of Illinois ruled that Aon was not required to produce an email seeking comments [...]
SEC Chief of Staff Peter Uhlmann Departing Commission
The SEC announced today that Peter M. Uhlmann, Chief of Staff of the SEC, will be stepping down from his current position. Uhlmann joined the Chairman’s office in 2005 and is one of the longest-serving Chiefs of Staff in the agency’s 75-year history, the SEC announced. In his role as Chief of Staff, Uhlmann was [...]
Mark Cuban on How to Quickly Break Down the Madoff Case
It is certainly generous of Mark Cuban to explain to the SEC how to break open the Madoff case given the rocky relationship between them at this time, but Cuban had an interesting suggestion for the SEC on his blog yesterday. Cuban wrote that if it he was the person investigating the case, the first [...]
Securities Docket News Wire for Jan. 18, 2009
S. Korea: Insider traders face fines 25X larger than current ones under new Capital Markets act taking effect Feb. 4. http://is.gd/gkTp #