‘Enforcement 40’ for 2020
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By Securities Docket on November 18, 2019, 10:38 am
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 […]
By Securities Docket on November 18, 2019, 10:32 am
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 […]
By Securities Docket on November 18, 2019, 9:34 am
Marc Celello, a former state securities enforcement attorney and General Counsel for a Georgia investment company, has pleaded guilty to conspiring to defraud investors out of over $40 million. “Marc Celello used his skills as an attorney to help his employer cheat investors out of millions of dollars,” said U.S. Attorney Byung J. “BJay” Pak. […]
By Securities Docket on November 18, 2019, 9:33 am
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 […]
By Securities Docket on November 18, 2019, 9:32 am
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 […]
By Securities Docket on November 18, 2019, 9:30 am
WeWork is drawing scrutiny from the Securities and Exchange Commission over whether the co-working company violated financial rules in the run-up to its failed initial public offering, according to two people with knowledge of the matter. via WeWork is facing SEC inquiry into possible rule violations – San Antonio Express-News.