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The Limits of Bigger Penalties in Fighting Financial Crime
“The real difficulty lies in gathering evidence to prove a crime took place.”
SEC Obtains Record $92.8 Million Penalty Against Raj Rajaratnam
Court finds Rajaratnam finds liable for a $92 million civil monetary penalty in SEC insider trading case.
Court Orders Kmart’s Conaway to Pay More Than $10 Million in SEC Case
Former Kmart CEO vows to appeal ruling.
SEC Argues Kmart’s Conaway Should Pay $24 Million Fine
Hearing gets underway on possible penalties for former Kmart CEO.
UK: FSA Says Penalties Too Low, May Increase for “Credible Deterrence”
Hector Sants, the FSA’s CEO, said in a speech in London yesterday that penalties imposed by the FSA on financial companies and individuals who violate regulations have been too small in the past. The FSA will be examining over the next few months how to change its framework to impose higher penalties that will help [...]