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Join the Securities Litigation and Enforcement Group on LinkedInSEC Enforcement Action Highlights Need for PE Fund Advisers to Address Potential Broker-Dealer Issue — Kramer Levin
On June 1, 2016, the Securities and Exchange Commission (the “SEC”) filed and settled an administrative proceeding against Blackstreet Capital Management, LLC (“Blackstreet”) and Murry N. Gunty, the principal owner and managing member of Blackstreet (“Gunty”).1 In order to settle the proceeding, Blackstreet and Gunty agreed to pay approximately $3.1 million. This settlement order highlights […]
Silicon Valley in the Crosshairs: SEC and DOJ Target Fraud Involving Pre-IPO Companies | Perkins Coie – JDSupra
However, Chair White’s conciliatory “open dialogue” overture to Silicon Valley should be juxtaposed with the government’s enforcement focus, which became more pointed at the recent Securities Enforcement Forum West conference in San Francisco on May 12, 2016. Erin E. Schneider, Associate Regional Director (Enforcement) in the SEC’s San Francisco office, told attendees that her office […]
U.K. Watchdog Opens Inquiries into Major Accounting Firms | Bloomberg BNA
The U.K. Financial Reporting Council has launched investigations into two leading financial services companies in the U.K. FRC, which sets and enforces accounting, auditing and actuarial standards in the U.K. and Ireland, said June 8 that it would examine Deloitte LLP’s work in preparing, approving and auditing of the financial statements of companies within Serco […]
Hard to keep staff on what it pays – Serious Fraud Office | Stuff.co.nz
In its four year plan document submitted to Parliament’s Law and Order subcommittee, the SFO warns of a high likelihood its staff will be poached by other employers offering more money. “Despite high levels of engagement SFO employees are attractive to the private sector who pay significantly higher salaries and this generates a higher than […]
For IPOs, Two Law Firms Could be Better than One | The Recorder
When tech companies go public, they almost always hire a single law firm. But Square Inc.’s initial public offering suggests that could change. When the mobile payment company had its IPO late last year, general counsel Dana Wagner encouraged the company’s board to hire two marquee law firms: Wilson Sonsini Goodrich & Rosati and Wachtell […]
U.S. court to weigh lawmakers’ immunity in trading investigations – Reuters
A three-judge panel of the 2nd U.S. Circuit Court of Appeals plans to hear arguments on enforcing two subpoenas that the U.S. Securities and Exchange Commission (SEC) sent to Congress as part of its investigation. The arguments are scheduled for about 11 a.m. (1500 GMT) in New York City. via U.S. court to weigh lawmakers’ […]