‘Enforcement 40’ for 2020
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By Securities Docket on June 26, 2013, 8:30 am
Get caught up with the Securities Docket News Wire for June 25, 2013.
By Securities Docket on June 25, 2013, 3:59 pm
The topic of a renewed focus on financial fraud enforcement continues to be a point of emphasis by SEC officials. Most recently, SEC Chairman Mary Jo White said accounting fraud is important to the SEC and “you’re going to see more targeted resources in that area going forward.” via ‘More Targeted Resources’ On the Way […]
By Securities Docket on June 25, 2013, 9:48 am
Even with all the publicity surrounding the issue of financial fraud in the last decade, most auditors, investors, and other professionals still do not “get it” when it comes to detecting fraud. Traditional financial statement audits were never designed to detect fraud…. The bottom line is that those who are confident that audits will find […]
By Securities Docket on June 25, 2013, 9:45 am
The Justice Department continued its string of victories in insider trading cases after the United States Court of Appeals for the Second Circuit in Manhattan affirmed the insider trading convictions of Raj Rajaratnam. The decision validates the government’s use of wiretaps as a means to investigate this type of crime. In turn, prosecutors will have […]
By Securities Docket on June 25, 2013, 8:30 am
Get caught up with the Securities Docket News Wire for June 24, 2013.
By Securities Docket on June 24, 2013, 11:46 am
Elaine C. Greenberg, the first-ever Chief of the SEC Enforcement Division’s Municipal Securities and Public Pensions Unit and long-time Associate Director of the Philadelphia Regional Office, is leaving the agency at the end of July to enter the private sector. Greenberg has served at the agency for over 25 years. via Chief of SEC Enforcement’s […]
By Securities Docket on June 24, 2013, 10:20 am
Todd Newman (Diamondback Capital) and Anthony Chiasson (Level Global) were both convicted in December of trading, and profiting, on inside information they gained from analysts who worked for them. The jury believed, as many juries do believe these days in about 90% of cases brought to trial, that the two men were guilty beyond a […]
By Securities Docket on June 24, 2013, 10:15 am
DOJ can significantly reduce the adverse consequences that accompany an investigations potentially endless period of uncertainty through a simple reform of its policy regarding when prosecutors should notify former targets that an investigation has been closed. Department statistics show that federal prosecutors take, on average, more than 400 days to reach a declination decision. During […]
By Securities Docket on June 21, 2013, 11:03 am
The Senate Banking Committee will hold a confirmation hearing on June 27 for President Barack Obama’s two nominees to serve on the U.S. Securities and Exchange Commission, the committee announced on Thursday. Kara Stein, a Democrat, and Michael Piwowar, a Republican, would replace SEC commissioners Elisse Walter and Troy Paredes, respectively. via Senate bank panel […]
By Securities Docket on June 21, 2013, 11:01 am
The trustee overseeing recovery efforts on behalf of victims in the Bernard Madoff multi-billion dollar Ponzi scheme does not have standing to sue financial institutions for aiding and abetting the fraud, the U.S. Court of Appeals for the Second Circuit ruled. The circuit rejected the appeal of Securities Investor Protection Act (SIPA) trustee Irving Picard […]