‘Enforcement 40’ for 2020
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By Securities Docket on September 25, 2015, 7:23 am
The U.S. Securities and Exchange Commission’s metrics for computing annual enforcement statistics are “deeply flawed,” making the agency falsely appear as though it is getting tougher every year, a new academic study concluded. via Study by law professor says U.S. SEC pads enforcement statistics | Reuters
By Securities Docket on September 24, 2015, 12:22 pm
The Securities and Exchange Commission again rejected constitutional challenges to the use of administrative enforcement proceedings presided over by Administrative Law Judges (“ALJs”). The Commission’s September 17, 2015 decision in In the Matter of Timbervest, LLC – the Commission’s second ruling on the constitutional issue in the past two weeks – rebuffed arguments that ALJ […]
By Securities Docket on September 24, 2015, 11:24 am
On Tuesday, the SEC announced that it had filed a settled enforcement action against an investment adviser for the firm’s alleged failure to establish required cybersecurity policies and procedures. The firm’s web server was later breached, compromising the personally identifiable information of approximately 100,000 individuals. This is the first enforcement action that the SEC has […]
By Securities Docket on September 24, 2015, 8:55 am
Get caught up with the Securities Docket News Wire for September 23, 2015.
By Securities Docket on September 23, 2015, 7:25 pm
But the striking omission in Verrilli’s certiorari petition is its failure to directly take issue with the other portion of the Second Circuit’s ruling, in which that court found that the government presented “no evidence” that Newman and Chiasson knew the tipper had received a personal benefit. For that reason, even if the Supreme Court […]
By Securities Docket on September 23, 2015, 1:45 pm
A man involved in what federal authorities have described as the first bitcoin securities fraud case pleaded guilty on Monday. Trendon Shavers, of McKinney, Texas, pleaded guilty in New York to a count of securities fraud on his 33rd birthday. He told U.S. Magistrate Judge Sarah Netburn that he made false statements to investors. via […]
By Securities Docket on September 23, 2015, 10:37 am
In August, the SEC filed the largest and most important group of “outsider trading” cases in its history, pushing new limits on cybersecurity and securities fraud. Outsider trading is when hackers are charged with securities fraud for trading on illegally exfiltrated/stolen on information. Now, during September, the SEC continued to mark its cybersecurity territory with: […]
By Securities Docket on September 23, 2015, 9:49 am
‘The Big Short,’ a film based on the best-selling book by Michael Lewis about traders who foresaw and profited massively on the collapse of the housing and subprime credit market in 2007-08, will open nationwide on December 23. Check out the trailer and details about the film’s star-studded cast here. via Coming Soon: ‘The Big […]
By Securities Docket on September 23, 2015, 8:55 am
Get caught up with the Securities Docket News Wire for September 22, 2015.
By Securities Docket on September 22, 2015, 7:52 am
Now, a group representing financial services industry compliance professionals is demanding clarity. The National Society of Compliance Professionals (NSCP) wants the SEC to set guidelines for its enforcement staff, a step that could curb punishing compliance officers for problems they cannot control, the NSCP says. via Compliance officer fines spur debate over U.S. SEC tactic […]