Daily Archives: January 14, 2009, 11:59 pm

Securities Docket News Wire for Jan. 14, 2009

SEC Commissioner Aguilar’s Prescription for an Ailing Enforcement Division. http://is.gd/fUFs # Free Securities Docket webcast on Madoff litigation today at 2 PM EST. Please sign up here: http://is.gd/ehxC # SEC Settles Insider Trading Case Against Former GC of Amkor Technology. http://is.gd/fQI2 # Report: SEC Sues Blackstone Managing Director for Insider Trading Scheme. http://is.gd/fQHr # Canada: OSC Alleges Insider Trading Against…

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Report: Securities Act of 2008 “Dies” in Senate

Investment News reports that the U.S. Senate has “failed to take up” a House-passed bill that would have expanded the SEC’s enforcement authority, and that the bill has “died.”  Key provisions of HR 6513 (previously discussed in detail here), included: authorizing the SEC to assess and impose civil penalties in a cease and desist proceeding; creating three tiers of increasing civil…

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Canada: OSC Alleges Insider Trading Against Celestica Employee Who Improperly Accessed Management Emails

The Ontario Securities Commission has charged Rajeev Thakur, a former employee of Celestica Inc., of improperly accessing and profiting from the e-mails of senior management by buying and selling shares based on information in the emails. The Province reports that at the time Thakur is alleged to have made the trades, between 2003 and 2005, he was manager of integrated…

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Report: SEC Sues Blackstone MD for Insider Trading Scheme

The SEC reportedly filed an insider trading case on Tuesday against Ramesh Chakrapani, a managing director at private equity firm Blackstone Group, for an alleged scheme involving shares of supermarket chain Albertsons. Reuters and Dow Jones report that the complaint alleges that Chakrapani supplied a friend with material nonpublic information about Albertsons’ acquisition before the deal was announced, resulting in…

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Mass. Securities Regulator Files Fraud Claim Against Reserve Management

The hits keep coming for Reserve Management Co., the mutual fund that “broke the buck” back in September 2008.  On Tuesday, Massachusetts’ top securities regulator accused Reserve executives in an administrative complaint of misrepresenting the fund’s safety in an ultimately futile bid to prevent investors from pulling out cash. The company has already been the subject of numerous lawsuits and,…

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