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The Securities and Exchange Commission’s rapid development of its whistle-blower program may well catch criminal activity that falls under the radar. The program sounds great, in theory, but there are several ways its success may harm the agency. In a sense, the program privatizes enforcement just as the agency is struggling to get more public […]
Get caught up with the Securities Docket News Wire for April 29, 2013.
Get caught up with the Securities Docket News Wire for April 26, 2013.
Guest columnist Martin S. Wilczynski argues that creating a financial accounting fraud specialty unit would be a major step and statement by the SEC.
For the second time this year, a judge has warned independent directors of a Delaware corporation with Chinese operations that their personal wealth can be at risk in shareholder lawsuits even after they resign their directorships…. On Thursday, Vice Chancellor Sam Glasscock of Delaware Chancery Court refused to dismiss a lawsuit that seeks to hold […]
Speaking at a panel discussion in New York, Associate Director of Enforcement Stephen Cohen said officials operating the 20-month-old program are devoting more attention to alleged wrongdoing involving asset management, financial reporting and “sophisticated trading” techniques. He noted that it takes time to sort through the tips, which totaled 3,001 in the first year, and […]
Get caught up with the Securities Docket News Wire for April 25, 2013.
Yesterday in federal appeals court, attorney Matthew Kluger asked the court to reduce his record 12-year sentence and return the title of “longest sentence for insider trading” back to Raj Rajaratnam. via Kluger Asks Appeals Court to Reduce His Record 12-Year Sentence for Insider Trading – Compliance Week.
Get caught up with the Securities Docket News Wire for April 24, 2013.
Earlier this month, Congress quietly repealed a key provision of the STOCK Act that applied to roughly 28,000 senior government officials. It was not quiet enough to escape notice by Comedy Central’s Jon Stewart, however, who ridiculed Congress last night for weakening the STOCK Act in his standard, scathing fashion. via Jon Stewart Rains Down […]