‘Enforcement 40′ for 2017
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Spencer Dinwiddie Launching Digital Token Next Week, Discusses NBA’s Threat To Terminate His Contract
After nearly three months of delays, including a threat from the NBA to ban him from the league during negotiations, Brooklyn Nets point guard Spencer Dinwiddie plans to launch his token-based investment vehicle on Monday in conjunction with a bid to get selected to his first career All-Star Game. I reported in October that the […]
US says ‘flash crash’ trader should not face further prison time | Business | The Guardian
A British trader who was accused of contributing to a multibillion-dollar US stock market crash by playing the markets from his parents’ suburban London home should not serve any further prison time, a prosecutor has recommended. Navinder Singh Sarao was labelled the “Hound of Hounslow” after being arrested in 2015 for supposedly making $40m (£27m) […]
What to Expect From White-Collar Prosecutions in 2020 – The New York Times
The new year promises to be an interesting one in white-collar crime. Goldman Sachs is negotiating with the Justice Department to pay a penalty of about $2 billion for its role in the 1Malaysia Development Berhad scandal, known as 1MDB. Accounting fraud became a particular focus of the Justice Department toward the end of 2019. […]
The Top 25 Securities-Related Settlements Outside of North America | The D&O Diary
Securities class action litigation has been an important part of the corporate and securities litigation environment in the United States and Canada for many years. What has been interesting in more recent years has been the steady rise of collective investor actions outside North America. As these various claims have accumulated, a number of them […]
Dismantling the SEC’s Federal Court Disgorgement Authority | New York Law Journal
This term, the Supreme Court will consider whether a federal court can order disgorgement in an enforcement action brought by the Securities and Exchange Commission. Liu v. SEC, No. 18-1501. Under a disgorgement order, defendants are required to turn over gains derived from violating the federal securities laws. In Kokesh v. SEC, 137 S.Ct. 1635 […]
The Insider Trading Law Is Bad. Will Congress Make It Worse? – WSJ
The House claims it is merely codifying and clarifying existing law, but ITPA actually turns it on its head. Because insider-trading law is based on antifraud statutes, courts have made clear that a defendant can’t be held liable unless he acted with intent to defraud or had a duty not to use the information for […]
The art of the insider trade deal is revealed
A failed Swiss entrepreneur revealed to a New York jury the secret methods he used to earn $70m in illegal profit from a global insider-trading network — including a safe full of cash to pay off corrupt tipsters and phony invoices for artwork sales to mask some payments. Marc Demane Debih, testifying for US prosecutors […]
Former U.S. Deputy Attorney General Rod Rosenstein Joins King & Spalding as a Partner in Washington, D.C. – King & Spalding
King & Spalding today announced that former Deputy Attorney General Rod Rosenstein joins the firm’s Washington, D.C., office as a partner on its Special Matters & Government Investigations team. Rosenstein spent almost two decades in senior legal management and leadership positions at the U.S. Department of Justice during the administrations of Presidents George W. Bush, […]
Cipperman predictions for 2020 regulatory agenda | On Wall Street
Below I offer my regulatory predictions for 2020, addressing Regulation Best Interest, closed-end funds, private equity and compliance, among others. One caveat: my crystal ball is always cloudier during a presidential election year. For example, if Jay Clayton or Dalia Blass decide to resign (not predictions, although possible based on history), all bets are off […]
Preeminent Supreme Court and Appellate Litigator Elizabeth Prelogar Joins Cooley
Elizabeth Prelogar has joined Cooley as a litigation partner based in Washington, DC, where she will focus on appellate and white collar matters. She arrives from the Office of the Solicitor General at the US Department of Justice, where she was an assistant to the solicitor general. Previously, Prelogar served as assistant special counsel in […]