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By Securities Docket on April 29, 2009, 10:00 pm
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 […]
By Securities Docket on April 29, 2009, 9:26 pm
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 […]
By Securities Docket on April 29, 2009, 4:40 pm
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 […]
By Securities Docket on April 29, 2009, 3:36 pm
You know a destructive force has gone mainstream when it starts to appear as a risk factor in company financial reports, and that is what occurred yesterday with the swine flu. CFO.com reports that the most prominent company to refer to swine flu was Burger King, in its third quarter fiscal 2009 results. Burger King […]
By Securities Docket on April 29, 2009, 1:18 pm
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.”
By Securities Docket on April 29, 2009, 12:25 pm
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.
By Securities Docket on April 29, 2009, 9:25 am
As promised by Russian officials back in February 2009, the Russian government recently introduced two pieces of legislation designed to strengthen Russia’s financial markets by prohibiting insider information for the first time. Crisis Crunch reports that on April 17, the State Duma, the lower chamber of the Russian Parliament, adopted the draft bill “On Counteracting […]
By Securities Docket on April 29, 2009, 9:16 am
Paul A. Reynolds has joined Solomon Ward Seidenwurm & Smith LLP as of counsel, the San Diego Source reports. Reynolds’ practice focuses on the areas of securities and business litigation. He was previously a partner with Shustak Frost & Partners, and also with DLA Piper.
By Securities Docket on April 29, 2009, 7:04 am
The SEC announced yesterday that it has charged a Tulsa, Oklahoma-based attorney, Matthew J. Browne, with insider trading. The SEC alleges that Browne sold all of the stock he owned in SemGroup Energy Partners, LP (SGLP), a local energy company, on the basis of confidential information that he learned while providing legal services to a […]
By Securities Docket on April 29, 2009, 6:45 am
The SEC’s Division of Enforcement plans to create teams that will focus on specific kinds of fraud. The WSJ reports that SEC Enforcement Director Robert Khuzami confirmed that the plans were discussed last week at a staff meeting but are not yet final. Presently, the Enforcement staff function as generalists, handling all types of cases. […]