‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSAC 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 […]
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 […]
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 […]
Securities Docket News Wire for April 6, 2014
Get caught up with the Securities Docket News Wire for April 6, 2014.
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 […]
Justice Dept Probing High-Speed Trading for Insider Trading – NBC News.com
The Department of Justice is investigating high-frequency stock trading to see if any of the practices violate insider trading laws, U.S. Attorney General Eric Holder said Friday. via Justice Dept Probing High-Speed Trading for Insider Trading – NBC News.com
SEC charges trading firm owner, others in ‘spoofing’ case — Reuters
U.S. securities regulators filed charges against two trading firms and five individuals on Friday in a case involving an illegal manipulative trading practice known as “spoofing.” via SEC charges trading firm owner, others in ‘spoofing’ case — Reuters
SEC fear factor at stake in Wyly trial — Dallas Morning News
“The SEC in this case isn’t seeking a double or triple but is going for a grand slam,” said Toby Galloway, the former lead trial lawyer for the SEC’s regional operations in Fort Worth. “The SEC needs to show that its threat of going to trial and winning is real and legitimate or more defendants […]