‘Enforcement 40′ for 2017
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Audrey Strauss Takes Over as Manhattan US Attorney Following Berman’s Dramatic Ouster | New York Law Journal
Audrey Strauss, the former top deputy to Geoffrey Berman, is set to take over the reins of the Manhattan U.S. attorney’s office this week, after her old boss agreed to resign Saturday following a 20-hour standoff with U.S. Attorney General William Barr over his removal. via Audrey Strauss Takes Over as Manhattan US Attorney Following […]
The SEC Loses an Arrow from Its Quiver in Liu v. SEC | Arnall Golden Gregory LLP – JDSupra
On June 22, 2020, the U.S. Supreme Court published its decision in Liu v. Securities and Exchange Commission, confirming the SEC’s authority to seek disgorgement from federal courts in enforcement actions. This was an important question that the Court raised but did not answer in 2017. The confirmation, however, comes with limitations not previously imposed […]
Liu v. SEC Highlights Limits of SEC Disgorgement Power
Three years ago, the Supreme Court ruled in Kokesh v. SEC that disgorgement in the context of an SEC enforcement action functions as a “penalty” for purposes of 28 U.S.C. § 2462 and is therefore subject to a five-year statute of limitations. 581 U.S. ___ (2017). In practice, the effect of Kokesh for companies and individuals under investigation by […]
China’s regulator gets tough on insider trading as it metes out record penalty on wrongdoers in the financial markets | South China Morning Post
China’s securities regulator slapped two individuals with a record fine for insider trading and confiscated their ill-gotten gains, meting out 3.6 billion yuan (US$508 million) of penalties in an unprecedented enforcement to stamp out corporate malfeasance in the country’s financial markets. Shanghai entrepreneur Wang Yaoyuan and his daughter Wang Chengcheng were fined 2.72 billion yuan […]
Former DOJ Prosecutor Jonathan Kravis Joins Munger, Tolles & Olson as Partner
Munger, Tolles & Olson announces today Jonathan Kravis has joined the firm as a partner in its Washington, D.C. office. Mr. Kravis spent 10 years as a federal prosecutor, most recently as deputy chief of the Fraud and Public Corruption Section in the U.S. Attorney’s Office for the District of Columbia, where he was responsible […]
Musk’s tweets enter the SEC | FT Alphaville
FT Alphaville believes this is the first time an SEC filing has featured a screenshot of tweets as part of a key announcement to shareholders. Now, some may just chalk this up to as yet another demonstration of the on-going governance conundrum that is Tesla Motors, and its affiliated businesses. Sure, screenshotting a social media […]
SEC Chief Urged to Drop U.S. Attorney Bid Amid Political Battle
U.S. Securities and Exchange Commission Chairman Jay Clayton was surprised and dismayed by the political battle that quickly erupted over his pending nomination to be the top federal prosecutor in New York, said people familiar with the matter. Now, as it becomes clear that he may face insurmountable hurdles to winning Senate confirmation for the […]
Hester Peirce tapped for second term as SEC commissioner
Hester Peirce has been nominated to another term as an SEC commissioner. Her current term expired Friday, though commissioners can remain in their seats up to 18 months after a term’s expiration, or until a replacement is confirmed. If confirmed by the Senate, her term would stretch until June 2025, the White House announced Tuesday. […]
DOJ And SEC Divide And Conquer To Police Coronavirus-Related Securities Fraud | Vinson & Elkins LLP – JDSupra
In early June, federal agencies brought some of the first enforcement actions against COVID-19 securities fraudsters, involving over $100 million in fraudulent claims and profits, making good on their promise to investigate and prosecute those seeking to fraudulently capitalize on the COVID-19 crisis. The cases generally involve misleading claims about companies’ ability to supply COVID-19 […]
Boies Schiller Loses Four-Partner Trial Team to King & Spalding
King & Spalding has hired a four-partner, New York-based trial team from Boies Schiller & Flexner, the latest in a growing string of exits from the firm founded by famed litigator David Boies, which has lost a total of 19 attorneys to King & Spalding since April. The lawyers joining King & Spalding in New […]