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SEC Drops Backdating Case Against Former Pixar CFO Mather
The SEC drops a stock options backdating investigation against former Pixar CFO.
Eight Years and Nine Investigations Later, Pequot Capital Receives Wells Notice From SEC
Eight years and nine investigations after certain trades that occurred in 2001, the SEC staff has sent Pequot Capital Management a Wells Notice notifying Pequot that it intends to recommend that the Commission bring an enforcement action against the firm. As discussed here and here in excruciating detail, the trades under investigation relate to General [...]
State Street Discloses Receipt of Wells Notice from SEC
In its Form 10-Q filed August 7, 2009, State Street Corp. disclosed that on June 25, 2009, SEC staff sent it a Wells notice related to the SEC’s ongoing investigation into disclosures and management by SSgA of its active fixed-income strategies during 2007 and prior periods. The company stated that The SEC Staff has informed [...]
Report: SEC Issues Wells Notices to AIG Financial Products Executives
The SEC has reportedly issued Wells notices to certain executives at AIG’s Financial Products unit. Citing the July issue of Corporate Counsel magazine, ABC News reports that Wells notices have gone out to multiple executives indicating the SEC staff’s intention to recommend that the Commission pursue enforcement action. Read the ABC News article
SEC Issues Wells Notice to Morgan Keegan & Co.
In a Form 8-K filed today by Regions Financial, the company announced that on July 9, 2009, its wholly-owned subsidiary, Morgan Keegan & Company, Inc., received a “Wells” notice from the Staff of the Atlanta Regional Office of the SEC. Regions Financial disclosed that the SEC staff intends to recommend that the Commission bring enforcement [...]
SEC Issues Wells Notice to Morgan Keegan Related to ARS Liquidity Disclosures
Morgan Keegan & Co. Inc., a subsidiary of Regions Financial (RF), disclosed this week in RF’s Form 10-Q filing with the SEC that the SEC staff issued it a Wells Notice in March indicating that it intends to recommend enforcement action to the Commission. According to RF, In March 2009, Morgan Keegan & Company, Inc. [...]
WSJ: SEC Staff Issues Wells Notice to Angelo Mozilo
The SEC staff has issued a Wells notice to Angelo Mozilo, the co-founder of Countrywide Financial Corp., advising Mozilo that it intends to recommend that the SEC file civil fraud charges against him, the WSJ reports. The staff reportedly sent Mozilo the Wells notice several weeks ago. The WSJ reports that potential charges against Mozilo [...]
TRO Requests, Wells Process, FCPA Among Emerging SEC Enforcement Issues
On Tuesday, April 21, 2009, Michael MacPhail of Holland & Hart and Patrick Hunnius of White & Case discussed key issues emerging from the SEC’s Enforcement Division, and the impact of these issues on regulated entities and the lawyers who represent them. MacPhail and Hunnius are both former senior attorneys with the SEC’s Division of Enforcement. A complete summary of their presentations in the Securities Docket webcast entitled, “SEC Enforcement Update: A Wounded Animal is a Dangerous Animal,” is now available.
April 21 Webcast — SEC Enforcement Update: A Wounded Animal is a Dangerous Animal
In a sharp detour from the era of Chairman Christopher Cox, the SEC under new Chairman Mary Shapiro’s leadership has obtained big budget increases that will be used to increase the number of enforcement lawyers. It has also empowered its staff by streamlining procedures relating to the issuance of formal orders of investigation and negotiating [...]
April 21 Webcast — SEC Enforcement Update: A Wounded Animal is a Dangerous Animal
In a sharp detour from the era of Chairman Christopher Cox, the SEC under new Chairman Mary Shapiro’s leadership has obtained big budget increases that will be used to increase the number of enforcement lawyers. It has also empowered its staff by streamlining procedures relating to the issuance of formal orders of investigation and negotiating [...]