The SEC announced today that a federal court has approved the distribution of more than $843 million to investors in American International Group, Inc. from a Fair Fund that the SEC established after the company’s settlement of an SEC enforcement action for accounting fraud. The court-appointed distribution agent for the AIG Fair Fund estimates that checks will be mailed to…
Sigal P. Mandelker has joined law firm Proskauer Rose as Senior Counsel in its New York office. The firm announced today that Mandelker has joined its Corporate Defense & Investigations Practice Group. Her practice focuses on corporate criminal defense and SEC and other regulatory matters, as well as congressional investigations. Mandelker formerly clerked for Supreme Court Justice Clarence Thomas and…
Ms. Chua Yang Foo, a senior executive of manufacturing company Biosensors, has been fined $77,000 by the Monetary Authority of Singapore for insider trading. Chua admitted selling the company’s shares while in possession of material, non-public information that she obtained through her position in Biosensors, Straits Times reports. Biosensors, which is listed on the Singapore Exchange Securities Trading (SGX-ST), announced…
Want to be the Chief Accountant at the SEC’s Division of Enforcement? Well, then you have less than two weeks to get your application in for this job posting yesterday that closes on June 1, 2009. According to the USAJOBS post, the Chief Accountant in the Division of Enforcement is responsible for initiating, planning, developing, coordinating and executing the accounting…
On Friday, a jury in federal court found former Ernst & Young lawyer and partner James Gansman guilty of insider trading. Prosecutors alleged that Gansman, who ran an E&Y department that advised companies on human resources issues during mergers and acquisitions, passed information about seven forthcoming takeovers to a friend who used the details to trade securities for a profit…
Probe into possible Madoff accomplices, Conrad Black case accepted by Supreme Court, Madoff Trustee Seeks $3.2 Billion From Fairfield Greenwich Group, and more.