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How effective is the SFO really? | ICAEW Economia
However, the report itself appears ambivalent about whether those aspirations are compatible with, or in opposition to, each other. Its summary of findings says that the SFO is facing clear challenges, identifying the central one as being that the organisation’s “sharp focus on delivery of casework” has “driven a culture of delivery which has, in […]
Experts Say Securities Fraud Claims Remain High, and Insurance Rates Will Follow | Corporate Counsel
The Securities Class Action Filings—2019 Midyear Assessment, released Thursday by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse, shows that plaintiffs filed 198 new federal securities class actions in the first half of 2019. The number of filings continued this year at a near record level. “The likelihood of a lawsuit of […]
Kik Lawyers Say SEC Has No Strong Evidence, Twisted Facts in Complaint
In a court filing dated Aug. 6, Kik’s lawyers state that the SEC relied on taking quotes out of context and twisting facts in order to support their allegations. Kik further wrote that the SEC resorted to misrepresenting the facts because they have no strong evidence to support their claims: “If the Commission had strong […]
Ex KPMG partner banned over insider trading | ICAEW Economia
A former KPMG US partner accused of insider trading is to pay the US Securities & Exchange Commission (SEC) $125,000 (£102,771) in a final judgment that will also see him banned for life from practising as a listed company accountant or auditor. Thomas Avent Jr agreed to the final judgment without admitting or denying the […]
NYC Bar addresses Bitcoin as payment for legal services
The bottom line: accepting cryptocurrency as payment for legal services isn’t impermissible in New York, but it’s important to tread lightly and think through your options carefully prior to doing so. The good news is that if you’re a New York lawyer and have been pondering whether to accept Bitcoin as payment for legal services, […]
What the Capital One Hack Means for Boards of Directors | LinkedIn
Undoubtedly, upon learning of the Capital One hack, corporate board members across the U.S. are likely struck by one immediate thought (there but for the grace of God go I) and one immediate question (What should I do now?). This article tackles the issue of third party digital risk management head-on, by offering a useful and comprehensive strategical […]
‘Hoodoo’ advisor Dawn Bennet gets 20 years in prison | Financial Planning
But Bennett’s case featured more than just allegations of fraud and millions in missing client funds. When FBI agents searched her penthouse, they came across evidence of voodoo-type witchcraft. Bennett allegedly had instructions for how to put people under a “Beef Tongue Shut Up Hoodoo Spell,” purportedly intended to silence individuals. FBI agents also found […]
Exclusive: Democrats consider a lawyer and a law professor for commissioner seat at SEC – sources | Metro US
Democrats are considering an attorney and a law professor to replace Democratic Commissioner Robert Jackson when he steps down from the U.S. Securities and Exchange Commission (SEC), expected in coming months, according to three people with direct knowledge of the matter. Caroline Crenshaw, who is currently an SEC attorney working in Jackson’s office, and Urska […]
Study finds mutual fund managers use their networks for info on insider trades
Chen, along with his co-authors Lauren Cohen of Harvard Business School, Umit Gurun of the University of Texas at Dallas, Dong Lou of the London School of Economics and Christopher Malloy of Harvard Business School, identified which corporate insiders were being tracked based on what trading information portfolio managers downloaded off the site. Using the […]
SEC Chair Clayton announces new coordinated approach to settlement negotiations and the waiver process | Insights | DLA Piper Global Law Firm
Until recently, those seeking to settle an action with the SEC were required to pursue two distinct tracks: resolution of a pending investigation negotiated with the SEC’s Division of Enforcement, and waiver of potential collateral consequences negotiated with the SEC’s Divisions of Corporate Finance and/or Investment Management (or SEC staff under delegated authority). The processes […]