‘Enforcement 40’ for 2020
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By Securities Docket on November 18, 2013, 9:56 am
The high court agreed on Friday to hear an appeal by Halliburton asking the high court to overturn a 1988 precedent that made it much easier for shareholders to band together to allege corporations have defrauded investors. The precedent, Basic v. Levinson, said that shareholders didn’t have to show that they had made investment decisions […]
By Securities Docket on November 18, 2013, 9:41 am
On Friday, the SEC issued its 2013 Annual Report to Congress on the Dodd-Frank Whistleblower Program with new details on the types of tips that are coming in to the agency. The number of whistleblower tips and complaints received increased from 3,001 in FY 2012 to 3,238 in FY 2013. FY 2013 also brought with […]
By Securities Docket on November 18, 2013, 8:30 am
Get caught up with the Securities Docket News Wire for November 17, 2013.
By Securities Docket on November 18, 2013, 7:42 am
In the wake of this case, the SEC needs to re-evaluate its insider trading program. It—or Congress—should clarify that under the misappropriation theory of insider trading, the required relationship of trust and confidence can be created by agreement only if someone who receives material, nonpublic information about a company agrees to keep that information confidential […]
By Securities Docket on November 18, 2013, 7:38 am
When U.S. Attorney Preet Bharara announced at a televised press conference on November 4 that Steven A. Cohen’s SAC Capital Advisors would plead guilty to insider trading, two prosecutors stood quietly to his right. In coming weeks those two assistant U.S. attorneys, Antonia Apps and Arlo Devlin-Brown, will get their turn in the spotlight as […]
By Securities Docket on November 18, 2013, 7:30 am
The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency. Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers […]