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Join the Securities Litigation and Enforcement Group on LinkedInTrump’s SEC Pick Jibes with Deregulatory Agenda
On at least two key issues, Peirce, whose previous nomination to the post by President Obama reportedly foundered because of objections by Sen. Elizabeth Warren and other Senate Democrats, has expressed views that seem to match Clayton’s. Like him, she appears to feel that the Department of Labor’s Fiduciary Rule may fall under the bailiwick of […]
ASIC to use phone taps to prosecute insider trading | afr.com
The corporate regulator may soon be able to listen to intercepted telephone calls to prosecute insider trading, after Treasury found ASIC’s investigation into at least two suspected insider trading cases failed because it did not have the power to use intercepted telephone conversations. In a consultation paper released on Thursday, Treasury said the Australian Securities […]
Trump to nominate former Senate aide Peirce for SEC commissioner — Reuters
U.S. President Donald Trump intends to nominate former Senate Republican aide Hester Maria Peirce to be a member of the Securities and Exchange Commission, the White House said on Tuesday. Peirce is a former Senate Banking Committee staff member and currently is the director of the Financial Markets Working Group at George Mason University’s Mercatus […]
One Billion Reasons Why The SEC Whistleblower-Reward Program Is Effective
When Congress included a whistleblower-reward program in the Dodd-Frank Act, the program faced considerable opposition. Many large banks and companies, along with the Chamber of Commerce, argued that it would undermine compliance programs and create a perverse financial incentive for employees who are responsible for identifying and investigating misconduct. Six years later, however, the program […]
SEC Announces Christopher Hetner as Senior Advisor to the Chairman for Cybersecurity Policy
The Securities and Exchange Commission today announced that Christopher R. Hetner will continue to serve as Senior Advisor to Chairman Jay Clayton for Cybersecurity Policy, having previously served in this role under Chair Mary Jo White and Acting Chairman Michael Piwowar. Mr. Hetner will continue to coordinate efforts across the agency to address cybersecurity policy, […]
U.S. SEC’s Piwowar urges companies to pursue mandatory arbitration clauses — Reuters
A key U.S. securities regulator on Monday voiced support for possibly allowing companies to tuck language into their initial public offering paperwork that would force shareholders to resolve claims through arbitration rather than in court. “For shareholder lawsuits, companies can come to us to ask for relief to put in mandatory arbitration into their charters,” […]
Kirkland & Ellis Hire Expands SEC Alumni Roster | Bloomberg BNA
Kirkland & Ellis LLP has snagged another former senior SEC official in Washington after taking on two of them earlier this year, the law firm said July 11. Alpa Patel became a partner at the firm following her departure from the Securities and Exchange Commission’s Division of Investment Management, where she oversaw rulemaking on private […]
What Robert Mueller Learned From Enron – The New York Times
As I talked with Mr. Mueller’s former Enron Task Force colleagues in recent weeks, it became clear to me that he believes the Enron team was successful — and understands why. That means his special counsel team will probably move more slowly than people anticipate. But it might also shock people with its aggressive investigative […]
Preet Bharara’s victories keep melting away | New York Post
Among the most frequent — and, at least according to those on the left, credible — critics of President Trump has been Preet Bharara, who was the most powerful federal prosecutor in the country until Trump fired him on March 10, along with 45 of his fellow US attorneys. That credibility took a hit Thursday, […]
In the Wake of Kokesh v. SEC: Whither Disgorgement in FCPA Cases – Lexology
On June 5, 2017, the United States Supreme Court unanimously held in Kokesh v. Securities and Exchange Commission [1] that disgorgement in SEC enforcement actions operates as a penalty, and as a result is subject to the federal five-year statute of limitations under 28 U.S.C. §2462. The Kokesh decision resolved a split between the US […]