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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInOntario beefs up securities enforcement in budget, gives OSC new tools – The Globe and Mail
In addition to the newly created Serious Fraud Office, the government has proposed new categories of offences – for people and companies found to be in breach of sanctions and for obstructing OSC investigations. The new categories will help financial regulators better target specific crimes and punish repeat offenders more swiftly, the government said via […]
Barclays to pay US$2b fine for crisis-era fraud: US authorities
British banking giant Barclays has agreed to pay a US$2 billion (RM7.7 billion) fine to resolve a fraud case involving mortgage derivatives sold in the run-up to the 2008 global financial crisis, the US Justice Department said Thursday. Authorities said the loans underlying the investment vehicles “were significantly less creditworthy than Barclays represented,” and the […]
Washington leak culture meets Wall Street’s insider-trading cops | Nation | stltoday.com
The federal prosecutors who sent Wall Streeters to prison for trading on insider information are taking on Washington’s culture of leaks in a first-of-its-kind trial next week. For the first time, the capital’s “political intelligence” industry is in their crosshairs. Hedge funds and other businesses pay consultants, often recent government employees, expecting them to leverage […]
This is weird: Securities class action defendant wants to block lead counsel appointment
Defendants aren’t supposed to pick a dog in the lead counsel fight. Sure, if there are parallel cases in different jurisdictions they can manipulate the outcome by negotiating a settlement with one set of plaintiffs’ lawyers instead of another, effectively preempting the lead counsel selection process. But I can’t remember ever seeing a defendant in […]
Serious Fraud Office kept waiting on choice of new director to succeed Green | Business | The Times
The government has still to appoint a director of the Serious Fraud Office less than three weeks before the departure of its present boss, raising questions about the recruitment process. By convention, the attorney-general’s office normally would have announced the next director late last year, but with David Green’s departure set for April 20 there […]