‘Enforcement 40’ for 2020
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By Securities Docket on August 31, 2018, 7:40 am
Former Enron executive Jeffrey Skilling has been released from prison. Skilling has been sent to a halfway house in Texas, according to the Federal Bureau of Prisons. via Former Enron CEO Jeffrey Skilling Has Been Released from Prison – Houston Public Media.
By Securities Docket on August 30, 2018, 7:59 am
Lisa Osofsky’s five year term as Director of the Serious Fraud Office begins today, 28 August 2018. Her appointment was announced by the then Attorney General, Jeremy Wright QC MP, on 4 June. Her start date was subsequently brought forward from 3 September. via Lisa Osofsky begins tenure as SFO Director – Serious Fraud Office.
By Securities Docket on August 30, 2018, 7:58 am
DLA Piper has been joined by leading corporate crime and regulatory investigations lawyer Patrick Rappo. He joins from Steptoe & Johnson in London, which he joined as a partner in 2013. Patrick previously spent five years at the Serious Fraud Office, where he became Joint Head of the Bribery & Corruption Divisions and played a […]
By Securities Docket on August 30, 2018, 7:56 am
Damilare Sonoiki, who worked for Goldman until 2015, passed the information to his friend Mychal Kendricks during a months-long scheme starting in 2014 that earned the football player about $1.2 million, federal prosecutors in Philadelphia said Wednesday. via NFL’s Kendricks Charged With Damilare Sonoiki For Insider Trading – Bloomberg.
By Securities Docket on August 30, 2018, 7:55 am
In the first enforcement action of its kind, Moody’s Investors Services Inc. has agreed to pay $16.25 million to settle charges that it failed to adopt adequate internal controls and to apply clear and consistent credit rating symbols. via In a First, SEC Fines Moody’s Over Poor Controls, Unclear Rating Symbols | Corporate Counsel.
By Securities Docket on August 29, 2018, 1:16 pm
The SEC alleges that after meeting at a party, Mychal Kendricks began receiving illegal tips from Damilare Sonoiki, an analyst at an investment bank who had access to confidential, nonpublic information about upcoming corporate mergers. Kendricks allegedly made $1.2 million in illegal profits by purchasing securities in companies that were soon to be acquired and […]
By Securities Docket on August 29, 2018, 11:54 am
“I apologize. Four years ago, I participated in insider trading, and I deeply regret it. I invested money with a former friend of mine who I thought I could trust and who I greatly admired. His background as a Harvard graduate and an employee of Goldman Sachs gave me a false sense of confidence. To […]
By Securities Docket on August 29, 2018, 10:03 am
The Securities and Exchange Commission today announced that Matthew S. Jacques has been named the new chief accountant in the SEC’s Division of Enforcement. via SEC.gov | SEC Names Matthew S. Jacques as Chief Accountant in Enforcement Division.
By Securities Docket on August 29, 2018, 7:55 am
Don’t expect the feds to get less interested in Tesla just because it has decided to stay public. “I think the SEC’s interest in Tesla has been heightened, so they’ll be kept under close watch,” says Stephen Diamond, who studies securities law and corporate governance at the Santa Clara University School of Law. In fact, […]
By Securities Docket on August 29, 2018, 7:54 am
The Martoma decision makes proving an intent to benefit the linchpin of the government’s case. A father helping his son avoid losing hundreds of thousands of dollars is a powerful motive to disclose confidential corporate information. That may be enough for a jury to infer that the telephone call from Mr. Collins is sufficient to […]