Daily Archives: January 20, 2009, 11:59 pm

SEC Chairman Christopher Cox’s Resignation Became Effective Noon on Tuesday

Very quietly, SEC Chairman Christopher Cox resigned on Tuesday, a move that became effective at noon.  His resignation was not announced, but was confirmed by agency spokesman John Nester, Bloomberg reports. Cox also relinquished his position as one of the five members of the SEC, the AP reports. Bloomberg reports that unless President Obama chooses otherwise, Republican Kathleen Casey, the…

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Kevin J. O’Connor to Join Bracewell and Giuliani in Hartford, Conn.

Kevin J. O’Connor, the former Connecticut U.S. Attorney who has been serving as associate U.S. Attorney General in the DOJ since last spring, will join the law firm of Bracewell and Giuliani starting February 2.  O’Connor will join the firm’s Hartford office, the Connecticut Law Tribune reports.  O’Connor also previously served as staff attorney and senior counsel in the SEC’s…

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Report: SEC Investigating Alleged $1 Billion Fraud at Satyam

The SEC is reportedly investigating whether India’s Satyam Computer Services Ltd. misled investors in an alleged $1 billion accounting fraud.  Bloomberg reports that SEC officials have discussed the case with regulatory counterparts in India and plan to coordinate their inquiries concerning Satyam.  The SEC has jurisdiction over Satyam because Satyam’s American Depositary Receipts (ADRs) trade in the US. Kirkland &…

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SEC Commissioner Aguilar Calls for Commission to Have Power to Bring Criminal Cases

As discussed here in detail, SEC Commissioner Luis Aguilar’s January 10, 2009 speech entitled, “Empowering the Markets Watchdog to Effect Real Results” included several specific “internal shifts in policy” that he would like to see made immediately to boost the SEC’s ailing Enforcement Division.   Another point in the speech, however, that escaped our notice in the prior post (but not…

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Jenner & Block’s Anton Valukas Selected as Examiner in Lehman Brothers Bankruptcy Case

Anton Valukas has been selected today as the examiner in the Lehman Brothers bankruptcy case.  Valukas is an attorney and the chairman of the law firm Jenner & Block, and was formerly U.S. attorney for the Northern District of Illinois. The AP reports that Valukas’ investigation will help determine whether Lehman executives lied, committed fraud or mismanaged the company.  His…

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January 28 Webcast: FCPA Enforcement — The Paradigm Shift of 2008

On January 28, 2009, KPMG Forensic is sponsoring a webcast that will shed light on the game-changing developments in 2008 in the enforcement of the Foreign Corrupt Practices Act. 2008 brought FCPA settlements of previously unthinkable amounts (including the historic Siemens settlement), but also important new trends such as: increasingly aggressive enforcement against individuals; ramped up international coordination; and the…

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