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Join the Securities Litigation and Enforcement Group on LinkedInConfirmed: Schonfeld Leaving SEC for Gibson, Dunn & Crutcher
The SEC announced today that Mark Schonfeld, the Director of its New York Regional Office, will leave the agency at the end of September to become a partner at the law firm of Gibson, Dunn & Crutcher. At Gibson, Dunn, Schonfeld will be co-head of the Securities Enforcement Defense practice and a member of the […]
UK: Consent Issue Puts FSA Insider Trading Cases on Hold
The legal technicality raised last week in the trial of Neel and Mathew Uberoi, who are each charged with 17 counts of insider dealing, has arisen again in the Financial Services Authority’s (FSA) separate insider trading case against Malcolm Calvert, a former partner at Cazenove. As a result, the Calvert case has been put on […]
FINRA Bars Two Former Registered Reps from Securities Industry for Insider Trading
The Financial Industry Regulatory Authority (FINRA) announced today that it has barred two former registered representatives, Peter D. Kelly and Daniel K. Ivandjiiski, from the securities industry for insider trading. FINRA barred Kelly, the former head of sales and trading of Calyon Securities (USA) Inc., for tipping three friends about a pending merger between Duratek, […]
UK: Auditors’ Use of Liability Limitation Agreements Likely to Increase
The Financial Reporting Council, the UK’s “independent regulator responsible for promoting confidence in corporate reporting and governance,” recently issued its Guidance on Auditor Liability Limitation Agreements (July 2008). As reported in the Birmingham Post, auditors have since April 6 been allowed to limit their liability for claims by a company for negligence, default, breach of […]
Canada: Southwestern Settlement a Landmark Under Ontario Securities Act
The shareholders’ settlement with Vancouver-based Southwestern Resources Corp. for $15.5 million, previously discussed here, is a landmark according to the lawyer for the class because it is the first major securities class action settlement to occur following changes to the Ontario Securities Act that were introduced at the end of 2005. According to an article […]