Daily Archives: November 18, 2019, 10:38 am

SEC Whistleblower Program Releases 2019 Annual Report – Zuckerman Law

The SEC Whistleblower Program’s 2019 Annual Report to Congress reveals that SEC whistleblower awards have proven to be successful in protecting investors and promoting market integrity.  Since the program’s inception, whistleblower tips have enabled the SEC to recover more than $2 billion in monetary sanctions from wrongdoers, including more than $1 billion in disgorgement of ill-gotten gains and interest, of…

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Wells Fargo General Counsel Allen Parker Leaving to Pursue Other Opportunities | Corporate Counsel

He was hired as general counsel in March 2017 to guide the bank through several scandals—a major one involved fake bank accounts. While the bank’s stock prices plunged, Parker worked to settle massive litigation and to calm its turbulent relationships with regulators, who placed a cap on the bank’s growth until they are satisfied with the reforms. When the bank’s…

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SEC 2019 Annual Report: Impressive Enforcement Metrics

Facing a 35-day government shutdown and new restrictions on the ability to recover disgorgement, it would be perfectly understandable if the SEC’s Division of Enforcement suffered a lackluster year. Nevertheless, according to their recently released Annual Report, the Division of Enforcement defied the odds and turned in an impressive year by most metrics. The full report is available here, but we…

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Applying Judge-Made Law to Insider Trading | The Regulatory Review

Although judicial lawmaking may contribute to uncertainty in the financial markets, Fisch argues that uncertainty in the context of insider trading may still be beneficial. A hardline rule, Fisch maintains, could potentially open the path to fraud by allowing backdoor loopholes to develop. Instead, judicial lawmaking deters that type of opportunistic behavior and is able to evolve with changing business…

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