Daily Archives: July 6, 2009, 4:15 pm

Alan Linning Joins Sidley Austin in Hong Kong

Alan Linning has joined law firm Sidley Austin LLP as a partner in its Hong Kong office.  The firm announced today that Linning has joined its commercial litigation and regulatory practice. Prior to joining Sidley, Linning was Managing Director and Head of Asia Regional Compliance at JPMorgan Chase, a position that he held since 2006. Prior to that, Mr. Linning…

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Egypt: New Securities Authority Seeks to Jump Start Regulation, Enforcement (as Soon as It Gets a Budget)

Ziad Bahaa El-Din, the lawyer who heads Egypt’s new Financial Services Authority, says he will seek to enforce insider trading laws that haven’t resulted in a prosecution in several years. The FSA, which was formed on July 1, plans to use existing laws to make companies report material events on time and bolster the role of company audit committees.  Bahaa…

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Canada: Sentencing Hearing Begins for Livent Co-Founders

In Canada, Crown Attorneys told the court that Livent Inc. co-founders Garth Drabinsky and Myron Gottlieb, convicted in late March of fraud and forgery related to the company’s accounting scandal, should receive sentences of 8 to 10 years. The sentencing hearing is scheduled to run today and Tuesday. The Globe and Mail reports that under the sentencing guidelines, the two…

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Plaintiffs File Class Action Against UK’s Willis Group Alleging Role in Stanford Fraud

On Thursday, July 2, 2009, plaintiffs filed a class action law suit against Willis Group Holdings Ltd. (WSH), a UK-based insurance broker, and other defendants. The suit is filed on behalf of a putative class of defrauded Mexican depositor clients of Houston based Stanford Financial Group and alleges Texas securities law violations by Willis and the co-defendants in the massive…

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Securities Docket A.M. News Wire for July 6, 2009

Madoff lawyer says he would do it all again; Securities class actions take fresh look at “stale claims;” Taiwan: Prosecutors search offices at Acer subsidiary to collect evidence of insider stock trading by a former exec.; Bill Threatens Congress’ Shield From Insider Trading Laws; Bernard Madoff hires veteran prison consultant to survive hard time; Britain Is Scrutinizing Madoff Payments to Austrian Banker; PwC audit of Satyam faces investigation; and more.

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