Monthly Archives: October 2014

The Debate Over Wall St. Enforcement – NYTimes.com

In October 2013, Mary Jo White, the Securities and Exchange Commission chairwoman, spoke at the Securities Enforcement Forum about a new approach based on the “broken windows” theory of enforcement in which the police pursue minor infractions to send a message about compliance with the law. “We are looking for the ‘broken windows’ in our markets,” she said, “and not…

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Rengan Rajaratnam Settlement Exposes Slightly Weak Point in SEC’s Newish Admissions Policy | Cady Bar the Door

Anyway, I thought that until I read this quote from Rajaratnam’s lawyer, Daniel Gitner: “The S.E.C. elected to offer, and Rengan elected to accept, a no admit/no deny settlement. Rengan is moving on to the next phase of his life. If the S.E.C. has further comment, so will we.”  Gitner was right to make this point publicly, and it means…

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Wall Street Targets Urge NY Judges to Hobble the SEC | Litigation Daily

Now three of Rakoff’s colleagues in the Southern District of New York—U.S. District Judges Katherine Forrest, Lewis Kaplan and William Pauley III—have the chance to reject or expand on Rakoff’s reasoning. Since March a string of defendants has taken aim at the SEC’s administrative proceedings in federal court, echoing Gupta’s challenge and attacking the constitutionality of the SEC’s stable of…

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SEC Says House Trading Probe Hindered by Court Delays – WSJ

Prosecutors gathering evidence into whether congressional staff helped tip Wall Street traders to a change in health-care policy have hit a snag: a sluggish court system. A Securities and Exchange Commission attorney said Friday that delays by the U.S. District Court for the Southern District of New York have “impeded” its investigation. via SEC Says House Trading Probe Hindered by…

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