Daily Archives: June 16, 2016, 12:16 pm

Phil Mickelson and the SEC’s Legal Bogey – WSJ

The SEC often names relief defendants in cases where some person has obtained money through unlawful conduct, and then provides that money to other persons or entities, who were not themselves involved in the illegal activity. Naming the person in possession of the unlawful proceeds enables the SEC to lay legal claim to those funds. But that is not the…

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Judge Rakoff Sees Resistance to Fraud Prosecutions — Accounting Today

“I am regretfully increasingly convinced that the federal government and the federal system of justice has somewhat retrogressed over the past couple of decades in its prosecution of fraud, or at least in its prosecution of fraud when it’s perpetrated by people at the highest levels of the financial establishment,” said Rakoff, who received the Cressey Award from the ACFE.…

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My New Article on the SEC Morgan Stanley Cybersecurity Action — Cybersecurity Docket

There are a slew of important takeaways from the SEC action, especially that cybersecurity failures can, and will, happen to any financial firm. And in this instance, after recognizing its cybersecurity failures, Morgan Stanley did just about everything right. Even better than right – Morgan Stanley actually excelled in its response…. via My New Article on the SEC Morgan Stanley…

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