Monthly Archives: April 2009

Securities Docket News Wire for April 30, 2009

SEC Brings Massive Insider Trading Case Aginst Former Citigroup Investment Banker, His Brother and Six Others. http://bit.ly/Y4aJB #sdx # SEC Probes Schering Trades Before Merck Deal. http://bit.ly/18eHGU #sdx # Ex-Citigroup Banker Sued by SEC for Insider Trading. http://bit.ly/A6TgO #sdx # SEC’s Office of Risk Assessment Looks to Ramp Up With “Seasoned Financial Experts.” http://bit.ly/X5aU9 #sdx # SEC Charges Investment Management…

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SEC Brings Massive Insider Trading Case Against Former Citigroup Investment Banker, His Brother and Six Others

The SEC announced a massive insider trading case today against Maher Kara, a former Citigroup investment banker, his brother, and six other individuals.  The SEC alleges that Maher Kara repeatedly tipped his brother about upcoming merger deals in a scheme that involved numerous friends and family and resulted in more than $6 million in illicit profits.  Full details (and a handy…

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SEC’s Office of Risk Assessment Looks to Ramp Up With “Seasoned Financial Experts”

The SEC’s seemingly “on again, off again” risk assessment efforts are back in the spotlight, as the SEC announced today that it is embarking on a new effort to attract industry professionals to the Office of Risk Assessment. The SEC announced a new “Industry and Markets Fellows Program” intended to help it “oversee complex industry practices and products in today’s…

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SEC Charges Investment Management Firm and Principal in Alleged N.Y. Kickback Scheme

The SEC announced today that it has charged Aldus Equity Partners, L.P. and one of its founding principals, Saul Meyer, in connection with a multi-million dollar kickback scheme involving the New York State Common Retirement Fund. James Clarkson, Acting Director of the SEC’s New York Regional Office stated that “as alleged in our complaint, Aldus was chosen by the pension…

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Securities Docket News Wire for April 29, 2009

Welcome to the “Provided However” Blog and Welcome Back to Mike O’Sullivan. http://bit.ly/yKnvX #sdx # Insider Buying Plunges to Lowest Level Since 1992. http://bit.ly/4vDhrE #sdx # Archived Version and Presentation Materials Available Here for 4/28 Webcast — “Inside the SEC Enforcement Division” http://bit.ly/juZ85 #sdx # FINRA sold its $862mn position in auction-rate securities in spring ’07, 6 months before auctions…

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Welcome to the “Provided However” Blog and Welcome Back to Mike O’Sullivan

Mike O’Sullivan, a law blog pioneer who created and wrote “Corp Law Blog” from 2003-04 and who was the subject of this Securities Docket interview back in November 2008, has returned to the blogosphere.  Last week, Mike rolled out a new blog called “Provided However,” which focuses on issues faced by corporate lawyers. On the “About” page of Provided However,…

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Archived Version and Presentation Materials Available Here for April 28 Webcast — “Inside the SEC Enforcement Division: Important Changes Ahead”

The archived copy of yesterday’s webcast entitled “Inside the SEC Enforcement Division: Current and Former SEC and DOJ Prosecutors Discuss Important Changes Ahead” can be viewed below.  In addition, the presentation materials are also available here. Please visit the link below to download the presentation. Materials: “Inside the SEC Enforcement Division: Current and Former SEC and DOJ Prosecutors Discuss Important…

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SEC’s Schapiro Worried About Loss of Financial Journalists, Suggests They Apply to SEC

SEC Chairman Mary Schapiro told attendees of the Reuters Global Financial Regulation Summit yesterday that the current mass layoffs of financial journalists is an “absolute worry” for her because she believes “financial journalists have in many cases been the sources of some really important enforcement cases and really important discovery of practices and products that regulators should be profoundly concerned about.”

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“SEC Joins Twitter!!!” Oh, Wait…

In the past 48 hours, the L.A. Times, the NYT’s DealBook and the UK’s Telegraph have all run stories announcing that the SEC has joined Twitter as a part of Chairman Mary Schapiro’s effort to revitalize the SEC and to make it more transparent. The problem with all of this is that the SEC has been actively using Twitter since July 2008.

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