Daily Archives: May 7, 2009, 9:36 pm

Tax Attorney Latest to Plead Guilty in “Golden Goose” Insider Trading Case

Eric Holzer, a tax lawyer who worked at law firm Paul Hastings Janofsky & Walker, pleaded guilty today to criminal charges that he traded on stock tips received from former Lehman Bros. salesman Matthew Devlin.  As previously discussed here, former day trader Jamil Bouchareb also pleaded guilty earlier this week in the same “Golden Goose” insider trading scheme that resulted…

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Securities Docket P.M. News Wire for May 7, 2009

SEC To Ask Congress For More Authority To Seek Civil Penalties. http://bit.ly/13sJ2I 6 mins ago SEC’s Khuzami Seeks More Trial Lawyers Amid Surge in Inquiries. http://bit.ly/b4E2g 7 mins ago Khuzami: SEC Close To Hiring Director For NY Office. http://bit.ly/T90vo 8 mins ago Khuzami Calls SEC’s Botch in Madoff Case a “Wake-Up Call.” http://bit.ly/xvBGB 8 mins ago Deloitte to Pay $1M…

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Copy of Robert Khuzami’s May 7, 2009 Testimony Before Senate Banking Subcommittee on Securities

Strengthening the SEC’s Vital Enforcement Responsibilities Testimony by Robert Khuzami Director, Division of Enforcement U.S. Securities and Exchange Commission Before the U.S. Senate Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment May 7, 2009 A copy of Mr. Khuzami’s testimony is available at the link below: May 7, 2009 Testimony of Robert Khuzami

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Proposed 2010 SEC Budget Provides 6.8% Increase Over 2009

President Obama’s fiscal 2010 budget request would provide the Securities and Exchange Commission with a funding increase of 6.8% to $1.027 billion from an estimated $961 million in fiscal year 2009. The WSJ reports that if approved, the SEC would use some of the budget increase to invest in IT resources for its Enforcement Division that are “similar to those…

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GAO Report Raises Four Key Questions for Khuzami

Today at 2:30 pm ET, the U.S. Senate Banking Committee’s Subcommittee on Securities, Insurance, and Investment will hold an important hearing on “Strengthening the SEC’s Vital Enforcement Responsibilities.”   The hearing comes just one day after the release of an extraordinary Report to Congressional Requesters by the Government Accountability Office (that bears the unextraordinary title of “Greater Attention Needed to…

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Securities Docket A.M. News Wire for May 7, 2009

UK’s FSA arrests seven over boiler room ‘share scams.’ http://bit.ly/tRdve # As SEC Steps Up Vigilance, It’s Policing Some New Beats; 150 Hedge Fund Cases Underway. http://bit.ly/lKgFH # AGs from at least 30 states start pension inquiries. http://bit.ly/YkIlG # Records Show How Madoff Used Firm as ‘Piggy Bank.’ http://bit.ly/121BzF # “AIG” name to be sandblasted off landmark Hong Kong skyscraper.…

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