‘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 […]
The Top Ten D&O Stories of 2019 | The D&O Diary
The liability environment for directors and officers is always in a state of change, but 2019 was a particularly eventful year in the D&O liability arena, with important consequences for the D&O insurance marketplace. The past year’s many developments have significant implications for what may lie ahead in 2020 – and possibly for years to […]
SEC Approves 2020 PCAOB Budget and Accounting Support Fee
The 2020 PCAOB budget totals $284.7 million, an increase of approximately 4.0% from its 2019 budget. The accounting support fee totals $270.2 million, approximately 2.8% more than the 2019 accounting support fee, of which $239.7 million will be assessed on public companies and $30.5 million will be assessed on broker-dealers. The accounting support fee approximates […]
California Companies Are Rushing to Find Female Board Members – The New York Times
In September 2018, California became the first state to legally compel corporate board diversity with a law mandating that every public company in the state have at least one female director by the end of 2019. The law set off a scramble to find hundreds of female directors, many of whom don’t fit the traditional […]
Patrick Bryan Named PCAOB Director of the Division of Enforcement and Investigations
The Public Company Accounting Oversight Board today announced that Patrick Bryan has been named the PCAOB’s Director of the Division of Enforcement and Investigations. In this role, Mr. Bryan will advance the organization’s investigations and litigation of violations of PCAOB rules and other applicable securities regulations. *** Mr. Bryan currently serves as the Assistant General […]
Kenneth Lench Named PCAOB General Counsel
The Public Company Accounting Oversight Board today announced that Kenneth Lench has been named the PCAOB’s General Counsel. In this role, Mr. Lench will provide legal advice and counsel to the Board regarding all PCAOB operations and activities. “Ken brings deep experience in securities law and the capital markets, and will be an excellent addition […]
Ransomware Gangs Now Outing Victim Businesses That Don’t Pay Up — Krebs on Security
As if the scourge of ransomware wasn’t bad enough already: Several prominent purveyors of ransomware have signaled they plan to start publishing data stolen from victims who refuse to pay up. To make matters worse, one ransomware gang has now created a public Web site identifying recent victim companies that have chosen to rebuild their […]
House Passes Bill Establishing a Clear Definition of Insider Trading – WSJ
The House bill aims to establish a legal foundation that is less susceptible to change. It doesn’t require prosecutors to prove that a defendant knew how a piece of inside information was obtained or whether there was a personal benefit paid to anyone in the chain of communication. Instead, the recipient or provider of an […]
Jan. 13 Webcast: Navigating the Minefield of Dodd-Frank’s Whistleblower Provisions (2019 Update)
Please join F. Joseph Warin, John W.F. Chesley, Sean X. McKessy and Jim Barratt for this free webcast.
The Signal Quality of Earnings Announcements: Evidence from an Informed Trading Cartel
This study examines the revealed preference of informed traders to infer the extent to which earnings announcements are informative of subsequent stock price responses. From 2011 to 2015, a cartel of sophisticated traders illegally obtained early access to firm press releases prior to publication and traded over 1,000 earnings announcements. I study their constrained profit […]