Daily Archives: April 7, 2014, 5:15 pm

SAC Capital Judge Urged to Accept $900 Million Penalty – Bloomberg

Manhattan U.S. Attorney Preet Bharara’s office yesterday asked U.S. District Judge Laura Taylor Swain to approve the agreement as part of a record $1.8 billion settlement that also calls for the hedge fund to close its investment advisory business. Swain is set to decide April 10 whether she will accept the guilty plea and sentence the Stamford, Connecticut-based firm founded…

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Award Payment to SEC’s First-Ever Whisteblower Quadruples as SEC Continues to Collect – Compliance Week

In August 2012, the SEC broke new ground when it issued its first-ever whisteblower award under Dodd-Frank. On Friday, this whisteblower’s initial $50,000 award was quadrupled when the SEC announced that the whistleblower will now receive an additional $150,000 payout after the SEC collected additional funds in the case. via Award Payment to SEC’s First-Ever Whisteblower Quadruples as SEC Continues…

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How the Feds Rig Their Prosecutions – WSJ.com

An agency that has the ability to bring the full force of the federal government against a citizen in a fraud case should play by the same fair rules that have governed federal prosecutors for decades. It should be required to turn over, without awaiting a request, any evidence that could exculpate the defendant. It should announce now that it…

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More About D&O Insurance Coverage for Subpoena Response Costs | The D&O Diary

As I have previously noted on this blog, a recurring insurance coverage issue is whether or not the costs incurred in responding to a regulatory or enforcement subpoena represent covered defense under a D&O insurance policy. In an interesting March 27, 2014 memo entitled “D&O Coverage for Subpoena Response Costs: An Emerging Consensus?” (here), Benjamin D. Tiersky of the Orrick…

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