‘Enforcement 40’ for 2020
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By Securities Docket on September 26, 2008, 6:09 pm
Securities Docket readers who are interested in the enforcement of international insider trading laws have probably noticed a flurry of articles here recently about cases being filed around the world. I summarize the latest on this topic in this post over at my Enforcement Action blog at Compliance Week.
By Securities Docket on September 26, 2008, 5:07 pm
In a landmark legal action, the Australian Securities and Investments Commission is pursuing civil penalties against the entire 2001 board of directors of James Hardie as well as three former executives, alleging that the defendants misled investors over James Hardie’s asbestos-related compensation payouts. Among the defendants are the former CEO Peter Macdonald, former CFO Peter […]
By Securities Docket on September 26, 2008, 10:45 am
Hong Kong’s Securities and Futures Commission has charged a former investment banker at regional broker CLSA with insider trading. The Financial Times reports that this is the fourth insider trading case brought this year by the SFC. According to the SFC, in May 2005 Allen Lam of CLSA tipped off a local fund manager about […]
By Securities Docket on September 26, 2008, 10:22 am
John Marshall, former vice chairman of the International Securities Exchange, pleaded guilty on Thursday to one count of conspiracy to commit securities fraud related to an alleged scheme to leak confidential information about the $2.8 billion takeover of the ISE in 2007. Through his position at ISE, Marshall allegedly obtained nonpublic information about the pending […]
By Securities Docket on September 26, 2008, 9:48 am
Prosecutors in the criminal case against four former General Reinsurance Corp. executives, including ex-CEO Ronald Ferguson, argued at a sentencing hearing in court yesterday that shareholders lost as much as $1.4 billion because of the fraud that led to the convictions of the insurance executives. Bloomberg reports that if U.S. District Judge Christopher Droney agrees […]
By Securities Docket on September 26, 2008, 8:39 am
After 118 years, it is reportedly the end of the line for law firm Heller Ehrman, as the firm will dissolve in a partnership vote today, according to The Recorder. Legal Week reports that the firm held an “all hands” video-conference yesterday during which chairman Matthew Larrabee said that dissolution was unavoidable. Employees were reportedly […]