Daily Archives: January 12, 2009, 11:59 pm

Securities Docket News Wire for Jan. 12, 2009

WSJ Video: Explaining Why the Court Allowed Madoff to Remain Free Today. http://is.gd/fCaJ # Court denies prosecution motion to revoke bail and detain Madoff prior to trial. http://is.gd/fxJb # UK’s Serious Fraud Office gets serious, appoints first general counsel. http://is.gd/fvQs # Australia: Perth man charged with insider trading, faces max. penalty of five years imprisonment and a fine of $22,000.…

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Canada: Panel Recommends Single Federal Securities Regulator

A federal panel in Canada recommended today that the country establish a single securities regulator that would strengthen enforcement and better serve investors.  The panel presented its report today to Finance Minister Jim Flaherty in Vancouver. CEP News reports that according to panel chair Tom Hocklin, “the recent turmoil in capital markets has made it even clearer that Canada needs…

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Richard Schiffrin Joins Grant & Eisenhofer

Richard S. Schiffrin has joined law firm Grant & Eisenhofer as of counsel. Schiffrin founded his own firm in 1987, which ultimately grew into 55-attorney law firm Schiffrin Barroway Topaz & Kessler.  Mr. Schiffrin announced his retirement from Schiffrin Barroway last February, but decided to return to practice. In an announcement today by Grant & Eisenhofer, Mr. Schiffrin stated: “I…

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Australia: Australian Federal Police Bring Rare Insider Trading Charges

David Kenneth Wallace Michael, the nephew of West Australian Governor Ken Michael, was charged by the Australian Federal Police with insider trading over market-sensitive information he allegedly acted on more than six years ago. The AFP alleges Mr. Michael, the son of former Perth mayor Mick Michael, made the trades at issue in August 2002, the Australian reports.  The insider…

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SDNY Drops Securities Fraud Case Against David Stockman and Three Others

On Friday, federal prosecutors from the SDNY dropped securities fraud and other criminal charges against David Stockman (pictured), former CEO of Collins & Aikman Corp., and three others.  Prosecutors advised U.S. District Judge Barbara Jones that pursuing the cases further wouldn’t be in the “interests of justice” following a renewed assessment of evidence in the case, and Judge Jones signed…

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