‘Enforcement 40’ for 2020
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By Securities Docket on November 24, 2017, 10:00 am
Several factors may have contributed to the decline. Some have attributed it to the change in presidential administrations, which resulted in a change in top SEC leadership. For instance, a recent Cornerstone Research publication noted that after SEC Chairman Jay Clayton’s appointment, the number of enforcement actions against public companies dropped precipitously. On the other […]
By Securities Docket on November 24, 2017, 9:59 am
In case you missed it, the U.S. Securities and Exchange Commission examiners in Boston, Mass. have been showing up at registered investment advisors’ offices unannounced to conduct “surprise” examinations. via Surprise! The SEC Is Here! Are You Prepared?
By Securities Docket on November 24, 2017, 9:53 am
The hack of the U.S. Securities and Exchange Commission’s corporate-filing database likely involved Eastern European criminals who may have been perusing market-moving information stored in the regulator’s network for months, according to two people with knowledge of the matter. via SEC Hack Likely to Involve Eastern European Criminals – Bloomberg
By Securities Docket on November 20, 2017, 10:46 am
These results are indicative of SEC employees being either: (i) skilled investors, (ii) lucky investors, or (iii) privately informed. We cannot confirm that our results are driven by trades on non-public information. While we do observe some unusual trading patterns around certain SEC activity (e.g., trading prior to enforcement actions and after whistleblower tips), several […]
By Securities Docket on November 20, 2017, 9:57 am
As the program has successfully stretched beyond Wall Street, Silicon Valley is on notice. Its culture of silence is poised to crumble as individuals come forward empowered by the protections and benefits of the SEC Whistleblower Program. Individual bad actors who have flouted the law are no longer free to operate with impunity. Now, somebody is […]
By Securities Docket on November 17, 2017, 2:23 pm
Since Clayton took office, the SEC has charged an individual in more than 80% of standalone enforcement actions. The report notes that “this focus on individuals consumes more of our limited resources; with more to lose, individuals are more likely to litigate with the Commission. But that price is worth paying.” via Clayton’s SEC Cracking […]
By Securities Docket on November 17, 2017, 9:08 am
The UK Serious Fraud Office said Thursday it charged two men in connection with its investigation of Unaoil. Ziad Akle and Basil Al Jarah were both accused of conspiracy to pay bribes to help Unaoil’s client SBM Offshore NV win contracts in Iraq. via SFO charges two in Unaoil probe – The FCPA Blog
By Securities Docket on November 17, 2017, 8:52 am
The Securities and Exchange Commission is best known as the no nonsense arm of U.S. financial law. But one regional branch takes its role a little more humorously online. Shamoil Shipchandler, regional director of the SEC’s Fort Worth, Texas, office, told CNBC on Wednesday he is the one who has “tweeted hundreds of jokes” from […]
By Securities Docket on November 16, 2017, 6:26 pm
Photos and highlights from Securities Enforcement Forum 2017.
By Securities Docket on November 16, 2017, 11:00 am
A claim has been filed against the accounting firm over its auditing for Slater and Gordon. Pitcher Partners, which was Slater and Gordon’s auditor until 30 June 2015, is being sued over its auditing of the listed law firm. Two shareholder class actions were brought against the troubled law firm after its systemic accounting issues […]