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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Hires Congress Liaison, Sources Say – Bloomberg
Bryan Wood, a former Republican staff member on the House Financial Services Committee, started recently as head of the SEC’s legislative and intergovernmental affairs office, said two people familiar with the matter. Wood will serve as Clayton’s eyes and ears on Capitol Hill, an important job because the SEC depends on Congress to approve its […]
SEC Said to Scrutinize Hedge Funds’ Handling of Hot IPO Shares – Bloomberg
U.S. regulators are scrutinizing how hedge funds and other money managers divvy up the stock they get from hot initial public offerings due to concerns that highly lucrative trades are inappropriately enriching a select few, said three people familiar with the matter. Investment firms typically oversee multiple funds, and the Securities and Exchange Commission is asking how […]
PwC probed by accounting watchdog over scandal at BT’s Italian division
Global audit giant PwC is being investigated by U.K. regulators over a scandal involving broadcaster BT’s Italian division, which has been blighted by claims of “inappropriate management behavior” and “historic accounting errors.” The Financial Reporting Council (FRC) announced on Thursday that it would be investigating the audits by PricewaterhouseCoopers LLP (PwC) of BT’s financial statements […]
Columbia professor Jackson leads field for SEC job: sources | Reuters
Columbia University law professor Robert Jackson is a leading contender for one of the two commissioner vacancies on the U.S. Securities and Exchange Commission, according to people familiar with the matter. If ultimately nominated by U.S. President Donald Trump and confirmed by the Senate, Jackson would fill a vacant spot reserved for a Democrat on […]
Martin Shkreli Built Hedge Fund Empire on ‘Lies,’ Prosecutor Says at Trial Start – AP
A federal prosecutor has told jurors in opening statements at the securities fraud trial of a former pharmaceutical company CEO that he built a bogus hedge fund empire on “lies upon lies.” Assistant U.S. Attorney Karthik Srinivasan accused Martin Shkreli on Wednesday of losing investors’ money through bad trades, then looting a drug company for […]
SEC Whistleblower Chief: ‘Be Careful What You Wish For’ | National Law Journal
Jane Norberg, who was named director of the SEC whistleblower office in September, said Wednesday that the agency’s interpretation of anti-retaliation protections should be favored by companies for making employees more comfortable reporting potential misconduct internally. If the agency’s more expansive view of anti-retaliation protections were scaled back, she said, “then the very first time […]
The Chickenshit Club by Jesse Eisinger — what happened to the DoJ?
Eisinger, who borrows for his title Comey’s moderately profane appellation, details an unmistakable decline in the justice department’s willingness and ability to prosecute corporate crime. For the four years 2012-2015, white-collar cases made up just 10 per cent of the DoJ’s caseload — roughly one-half the share two decades earlier. “The justice system is broken,” […]
July 5 Webcast: UK Bribery Act Update — Enforcement, the Future of the SFO and Much More
Please join Vivian Robinson QC, Barry Vitou, Richard Kovalevsky QC and Julian Glass for this free webcast.
Supreme Court to Review Whether Dodd-Frank Anti-Retaliation Provisions Protect Internal Whistleblowers | The D&O Diary
In the flurry of opinions and orders on Monday on the final day of the U.S. Supreme Court’s term, and amid the hubbub over the Court’s action on the Trump administration travel ban order, you might well have overlooked the fact that on Monday the Court also agreed to take up the question of whether […]
SEC chairman promises action on fiduciary rule | Financial Planning
SEC Chairman Jay Clayton pledged to move forward on the fiduciary rule in a “coordinated” process with the Department of Labor. Clayton presented the agency’s trimmed-down $1.6 billion budget request before a Senate subcommittee Tuesday, noting more than half would pay for enforcement and examinations. The SEC and Labor Department must work together on “the […]