Daily Archives: September 19, 2008, 5:29 pm

Jérôme Kerviel: The Comic Book

Remember when you read about (or maybe for some of you, represented) Jérôme Kerviel, the 31-year old junior trader who nearly brought down French bank, Société Générale, with his rogue trading?  Remember when you said to yourself, “someone should really make a comic book about this?”  No? Well, either way, “The Diary of Jérôme Kerviel” hits stores on Monday according to…

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SEC’s Thomsen: Focus of SEC’s ARS Investigations Turning to Individuals

On September 18, the SEC’s Linda Chatman Thomsen, Director of the Division of Enforcement, testified before the U.S. House of Representatives Committee on Financial Services. Thomsen’s testimony focused on the SEC’s response to the meltdown of the auction rate securities market in mid-February 2008. Thomsen praised the “tremendous level of cooperation by state and federal regulators” to arrive at early…

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“Nobody’s Head Rolled”: Discovery Error Explained in Trial of Former McAfee General Counsel

The criminal prosecution against McAfee’s former general counsel related to options backdating — derailed briefly when relevant emails were suddenly produced by prosecutors on the eve of trial — resumed Thursday.  Robert Gooding Jr., the partner who headed law firm Howrey’s internal investigation into backdating at McAfee, said the omission was the result of contract lawyers at Howrey marking the…

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SEC Orders Temporary Halt to Short Selling of 799 Financial Companies

Sometime in the very early hours of Friday morning, the SEC issued an announcement that it has halted short selling of financial stocks effective immediately. The Commission stated that it was acting in concert with the U.K. Financial Services Authority, which took similar action yesterday. The action will apply to the securities of 799 financial companies. SEC Chairman Christopher Cox…

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