Daily Archives: April 6, 2009, 11:59 pm

Securities Docket News Wire for April 6, 2009

Report: IPO Securities Litigation Settles for $586 Million. http://is.gd/r4mp #sdx # TiVo Alert: ABC Interview with Allen Stanford Tonight. http://is.gd/r48z #sdx # MSNBC Video: NYAG Brings Civil Fraud Case Against Ezra Merkin in Madoff Scandal. http://is.gd/r2Ye #sdx # UK: FSA Starting to “Frighten” People? http://is.gd/r2GU #sdx # Chancery Court Grants Stay Requested by Special Litig. Committee Except for Production of…

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UK: FSA Starting to “Frighten” People?

Is it possible we have reached the “tipping point” in the UK with respect to people respecting the FSA and its enforcement of insider trading?  Less than three weeks ago, the FSA’s chief executive, Hector Sants, engaged in some saber-rattling when he stated that “there is a view that people are not frightened of the FSA.  I can assure you…

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Welcome to the Securities Docket Exchange: You’re Soaking in It

Most Securities Docket readers are already using Twitter whether they know it or not. That’s because the popular Securities Docket News Wire that streams updates on the front page of Securities Docket is itself a Twitter feed (the feed of @SecuritiesD). Now Securities Docket is taking the benefits of Twitter to the next level for our readers, with the introduction of the beta version of the Securities Docket Exchange (“SDX”).

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Guest Column: Arbitrary and Capricious Standards Governing Access to the SEC Staff’s Investigative File

Guest columnist Michael MacPhail of Holland & Hart writes that the issuance of a Wells notice presents defense counsel with an opportunity to learn about the proposed case against their client. Granting access to the entire investigative file (including the testimony transcripts of other witnesses) is a key part of the Wells process, since it permits defense counsel to more intelligently advise clients of the risks of possible enforcement action, facilitates the preparation of more focused and helpful Wells submissions, and encourages better and quicker resolutions of proposed enforcement actions. Yet the standards governing whether to grant such access, and their application by the staff, are arbitrary and capricious.

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