As in FY 2014, we will try to maintain an updated running list of the SEC’s trials and their outcomes in FY 2015. Thus far in FY 2015, the SEC has completed two trials. In both trials, the SEC won on all of its claims. Here is the SEC Trial Scorecard for FY 2015 to date. via 2015 SEC Trial…
Get caught up with the Securities Docket News Wire for November 28, 2014.
The Securities and Exchange Commission, in its unceasing battle against illegal insider trading, has moved the fight to a place where the odds are stacked in its favor, by taking cases out of federal courts and bringing them instead as administrative proceedings before in-house administrative law judges. This development has prompted criticism, including a blistering attack by a prominent federal…
Get caught up with the Securities Docket News Wire for November 26, 2014.
In its FY 2014, which ended on September 30, 2014, the SEC litigated a total of 17 trials in federal court that went to a verdict. In those 17 trials, SEC had five outright victories in which it won on all of its claims, seven losses in which it lost on all of its claims, and five mixed verdicts in…
Get caught up with the Securities Docket News Wire for November 25, 2014.
US prosecutors will travel to London in the coming weeks to interview traders about currency market manipulation, the latest sign that authorities are closer to filing criminal charges stemming from the long-running probe, sources told Reuters. Officials from the US Department of Justice will interview current or former employees at HSBC, among other banks, people familiar with the matter told…
Get caught up with the Securities Docket News Wire for November 24, 2014.
“Michael Lewis got it wrong when he said that high-frequency traders are front running the public market. What he alleged is simply impossible. Today’s markets don’t work that way,” Peter Kovac, author of “Flash Boys: Not So Fast,” said in an interview Monday with CNBC’s “Closing Bell.” via HFT critic Michael Lewis ‘dead wrong:’ Author — CNBC
Today on TheRacetotheBottom blog, Prof. J. Robert Brown Jr. pondered the Association of American Law Schools’ recent description of SEC Chair Mary Jo White as “the only woman to hold the top position in the more than 200-year history of the SEC.” via The SEC’s Role in the War of 1812 | Compliance Week