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Once an S.E.C. Regulator, Now Thriving as a Lawyer for Whistle-Blowers – The New York Times
“People thought I was crazy not to go into a big corporate defense practice where I could make a lot of money,” Mr. Thomas said. Seven years later, his bet is paying off. He has built one of the top legal practices in the country representing corporate whistle-blowers. And because of a program that Mr. […]
Former F-Squared CEO must pay $12.4 mln in SEC case: U.S. judge
The former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, must pay more than $12.4 million for making false statements to investors, a federal judge ruled on Tuesday. via Former F-Squared CEO must pay $12.4 mln in SEC case: U.S. judge.
Labor Dept shelving enforcement of fiduciary rule after court decision
The 5th Circuit Court of Appeals ruled on March 15 that the Labor Department overstepped its authority by creating the so-called fiduciary rule, parts of which went into effect last year. In general, the rule requires advisors and brokers to put their clients’ interests before their own when advising on retirement accounts such as 401(k) […]
SEC Obtains Summary Judgment in Grand Central Post-It Notes Insider Trading Case — SEC Litig. Release
The Securities and Exchange Commission announced that on March 13, 2018, the United States District Court for the District of New Jersey granted the SEC’s motion for summary judgment against Steven Metro, a former law firm employee previously charged as part of an insider trading scheme involving more than a dozen pending corporate transactions in […]
Former United States Attorney for New Jersey, Paul J. Fishman, Joins Arnold & Porter | News | Arnold & Porter
Arnold & Porter announced today that Paul J. Fishman, the United States Attorney for the District of New Jersey from 2009 to 2017, has joined the firm as a partner. Mr. Fishman will lead Arnold & Porter’s Crisis Management and Strategic Response team and his practice will include internal investigations, compliance counseling, white collar defense, […]
Hundreds of Start-Ups Tell Investors: Diversify, or Keep Your Money – The New York Times
When Trevor McFedries set out last year to raise money for Brud, his robotics and artificial intelligence start-up, he found himself in many meetings with “a ton of white guy” venture capitalists. So Mr. McFedries, who is black, and his co-founder, Sara DeCou, a Latino woman, added a condition for investors: The pair would accept […]
Merrill Lynch whistleblowers get $83M Securities and Exchange Commission award
The former Bank of America executives provided information that showed the bank’s Merrill Lynch brokerage misused customers’ cash from 2009 to 2012 to finance its own trading and generate profits, said Jordan Thomas, who chairs the whistleblower representation practice at law firm Labaton Suchow. via Merrill Lynch whistleblowers get $83M Securities and Exchange Commission award
DOJ, SEC Argue Vague Laws No Excuse for ICO Fraud – CoinDesk
The U.S. government is pushing back against an effort to dismiss the charges it filed in an ongoing initial coin offering (ICO) fraud lawsuit. In twin filings submitted Monday, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) dismissed claims by defendant Maksim Zaslavskiy that U.S. securities laws don’t apply to the […]
NZ’s first insider trading trial begins in Auckland | Radio New Zealand News
The first person to go on trial in New Zealand for insider trading sold his shares in a company after getting a tip-off from an employee, the High Court has heard. via NZ’s first insider trading trial begins in Auckland | Radio New Zealand News.