Monthly Archives: June 2016

After setbacks, N.Y. prosecutors resume insider trading crackdown | Reuters

Federal prosecutors in Manhattan are pursuing insider trading cases on a pace not seen since 2012 – before a major appellate ruling limited their ability to bring charges against hedge fund managers and other traders. So far this year, U.S. Attorney Preet Bharara, known for high-profile prosecutions of wrongdoing on Wall Street, has announced charges against 11 people for insider…

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SEC’s IT Security Under Attack as It Attacks Others | McGuireWoods LLP

The Inspector General (IG) of the U.S. Securities and Exchange Commission (SEC) reported last week that the SEC has not sufficiently implemented information technology security upgrades in order to protect highly sensitive information from data breaches. The IG reported that SEC officials failed to deactivate idle user accounts, did not ensure that owners kept their systems performing consistently, and failed…

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Compliance fail: Chinese bank employees publicly spanked for poor performance | Compliance Week

A disturbing video of a Chinese bank’s effort to improve employee performance — through public, violent spankings of employees — was posted yesterday in a BBC article. The video, which will make even the most hardened U.S. compliance officer cringe, shows a line of employees from Changzhi Rural Commercial Bank being subjected to an awful “team-building” workshop in which a corporate trainer spanks them…

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SEC prevails again in latest circuit court challenge to APs| Compliance Week

Constitutional challenges to the SEC’s use of administrative proceedings to carry out enforcement actions continue to find no success in federal circuit court. Last week, the Eleventh Circuit joined three other circuits that have considered and rejected such challenges when it ruled in the SEC’s favor in two cases that had been consolidated for appeal: SEC v. Gray Financial Group and SEC…

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Chipotle shareholders file lawsuit against restaurant, claim insider trading – AP

Some shareholders of Chipotle stock have filed a suit against the Mexican restaurant chain, saying that company executives awarded themselves “hundreds of millions” of dollars just before stock prices plummeted in response to an E. coli breakout, according to Colorado Public Radio. via Chipotle shareholders file lawsuit against restaurant, claim insider trading – AP

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