‘Enforcement 40′ for 2017
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U.S. corporate crisis bailouts may prove bonanza for insider trading, new study warns – Reuters
The research, from scholars at the University of Pennsylvania’s Wharton School, Stanford University, University of Cambridge and IESE Business School, found insider trading profitability jumped dramatically during the 2007-2009 global financial crisis and subsequent government bailout.“ Anytime the government picks winner and losers, there is a greater opportunity for insider trading by connected individuals,” said […]
Cybersecurity and Fraud Risks for Fund Managers in the Wake of Coronavirus | Proskauer – The Capital Commitment – JDSupra
COVID-19 has created many new concerns for private fund managers; however, managers should be particularly mindful of heightened cybersecurity and fraud risks. With increased numbers of employees teleworking, there are increased vulnerabilities for cybercriminal intrusions creating privacy-related risks for fund portfolio information, LP confidential data, and other sensitive electronically-stored materials. via Cybersecurity and Fraud Risks […]
A Short Primer on the New Law of Insider Trading | New York Law Journal
Practitioners, listen up! You need to unlearn much of what you think you know about the law of insider trading. That law is changing—and quickly. In addition, new legislation has passed the House by an overwhelming margin and could conceivably pass the Senate this year. via A Short Primer on the New Law of Insider […]
NYSE is closing trading floor in response to coronavirus spread – Business Insider
The New York Stock Exchange said on Wednesday it would temporarily close its iconic trading floors as measures aimed at slowing the spread of the novel coronavirus continue to force Wall Street to adapt business practices. NYSE said in a statement it would move to fully electronic trading starting on Monday, and would be initiating […]
Wall Street’s Court Halts New Jury Trials Over Virus – Bloomberg
The court that oversees Wall Street is suspending new jury trials at least through next week, joining a global slowdown of court systems based on public hearings in the face of an outbreak that dictates the opposite. The federal court in Manhattan, one of the busiest dockets in the U.S. and the nation’s main forum […]
Investing in a Coding-School Graduate Could Get You 13% a Year – Bloomberg
For investors starved of yield, it was an appealing proposition: a potential 13% return. You just had to be willing to take a flier on the future earnings of 1,000 coders. That was the payout being targeted late last year for a swath of income-sharing agreements tied to students and recent graduates of coding academy […]
Morgan Stanley confirms to acquire ETrade in $13 billion all-stock deal – MarketWatch
Morgan Stanley MS, -3.32% confirmed Thursday that is acquiring E*Trade Financial Corp. ETFC, +25.06% in an all-stock deal valued at $13 billion. Morgan Stanley will pay 1.0432 of its shares for each E*Trade share, equal to $58.74 based on its closing price Feb. 19. The deal “will significantly increase the scale and breadth of Morgan […]
London hedge funds’ websites cloned as scammers grow bolder and more ubiquitous – Reuters
Some of London’s top hedge funds and asset managers are among those that have been targeted by rogue internet operators who clone their names and websites in an attempt to part unsuspecting investors from their cash. via London hedge funds’ websites cloned as scammers grow bolder and more ubiquitous – Reuters.
David Ruder, SEC chair during 1987 crash, dies at 90 – BNN Bloomberg
David Ruder, a former chairman of the U.S. Securities and Exchange Commission whose off-the-cuff comments may have fanned panic selling on what became known as Black Monday, has died. He was 90. He died on Feb. 15, according to Northwestern University, where he served as dean of the law school from 1977 to 1985. No […]
Trump Administration Would Shift Audit Watchdog Role to SEC
The White House would transfer the authority of the Public Company Accounting Oversight Board to the SEC by 2022 in order to eliminate duplication between the two regulators and “reduce regulatory ambiguity,” it said in the budget released Monday. The administration estimates eliminating the board would save an estimated $580 million over nine years. Public […]