‘Enforcement 40’ for 2020
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By Securities Docket on April 30, 2020, 7:37 am
Jenner & Block announced today that Andrew Weissmann is rejoining the firm, effective July 1, where he was a partner for five years from 2006-2011. Mr. Weissmann is the former Chief of the Fraud Section in the US Department of Justice (DOJ) Criminal Division, the former General Counsel of the Federal Bureau of Investigation (FBI) […]
By Securities Docket on April 30, 2020, 7:35 am
The Financial Conduct Authority has banned a former equities dealer at Legal & General Investment Management seven years after he was sentenced to prison for insider trading. Paul Milsom pleaded guilty in January 2013 to insider dealing following a large-scale probe by the Financial Services Authority and two months later was sentenced at Southwark Crown Court to two years imprisonment. […]
By Securities Docket on April 29, 2020, 8:24 am
I am deeply honored to have served as a Commissioner at the Commodity Futures Trading Commission over the last two and half years, as well as to have been a part of an administration that has assembled one of the best financial regulatory teams across the federal government. My five-year statutory term as a Commissioner […]
By Securities Docket on April 29, 2020, 8:22 am
On April 28, 2020, Tesla filed with the SEC an amendment to its annual 10-K filing (here). The amendment addresses a number of corporate governance and executive compensation issues. In a section of the filing with the heading “Director Independence,” the company discloses that: Tesla determined not to renew its directors and officers liability insurance […]
By Securities Docket on April 29, 2020, 8:04 am
This week, the North American Securities Administrators Association (NASAA) has announced the formation of a COVID-19 Task Force, uniting state and provincial regulators to identify and stop potential threats to investors. via Regulators form task force to fight COVID-19 investment scams | Wealth Professional.
By Securities Docket on April 29, 2020, 8:01 am
The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action. The whistleblower repeatedly reported the problem internally before contacting the SEC. via SEC.gov | SEC Awards Over $18 Million to Whistleblower.
By Securities Docket on April 28, 2020, 8:05 am
“The definition of insider trading is wholly judge-made: Every element of the crime and the scope of regulated individuals subject to it was divined by judges, not elected legislators,” Levoff’s lawyer Kevin Marino said in a filing. “This alone renders the criminal prosecution of insider trading unconstitutional.” Courts for years have upheld criminal indictments in […]
By Securities Docket on April 27, 2020, 8:45 am
In the latest securities suit related to the coronavirus outbreak, a plaintiff shareholder has filed a U.S. securities class action lawsuit against a Chinese real estate firm whose American Depositary Shares (ADSs) are listed on the NYSE, based on allegations that the company’s January 2020 IPO offering documents failed to disclose the impact of the […]
By Securities Docket on April 24, 2020, 7:51 am
King & Spalding today announced that 13 partners will be joining the firm in its trial and investigations practices in Los Angeles and San Francisco. The firm’s new partners include: Quyen Ta, David Willingham, Albert Giang, Luan Tran, Michael Leslie, Michael Roth, Eric Pettit, Jeanne Fugate, Arwen Johnson, Craig Bessenger, Kelly Perigoe, Julia Bredrup and […]
By Securities Docket on April 24, 2020, 7:50 am
The unknown individual masquerading as a securities regulator is using its website to collect personal information as part of an identity theft scheme, DOJ alleged Thursday in Texas federal district court. The fictitious regulator calls itself the Board of Securities and Financial Services, but there’s “no federal or state regulatory entity known” by that name, […]