‘Enforcement 40’ for 2020
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By Securities Docket on July 21, 2020, 9:39 am
Tuesday marks the 10th anniversary of the Dodd-Frank Act, the landmark financial-reform legislation passed in the wake of the Great Recession. What we’ve learned during this time is that there’s strong consensus that the whistleblower-rewards provisions are effective in detecting and combatting fraud and conserving limited public resources. Using financial incentives to motivate potential whistleblowers […]
By Securities Docket on July 20, 2020, 10:03 am
As we enter the fifth month of the coronavirus outbreak in the U.S., the COVID-19-related D&O claims continue to accumulate. There have now been a total of 16 COVID-19-related securities class action lawsuits filed. The lawsuits filed so far fall into three basic categories: (1) cases involving companies that experienced COVID-19 in their facilities (such […]
By Securities Docket on July 17, 2020, 9:40 am
Judge Donato, in an order Tuesday night, consolidated the cases – but rejected the leadership proposal. There was no doubt, he said, that Kaplan Fox and Cotchett would provide “highly professional and sophisticated representation” to the prospective class, given their “impressive history.” But Judge Donato said he was concerned that the proposed team lacked diversity. […]
By Securities Docket on July 17, 2020, 8:52 am
The Securities and Exchange Commission was allotted $1.92 billion for its 2021 budget on Wednesday, an increase of $105 million above the fiscal 2020 enacted level. via SEC, IRS Get Budget Boosts | ThinkAdvisor.
By Securities Docket on July 16, 2020, 8:16 am
Germany’s financial watchdog is widening its examination into possible insider trading of Wirecard shares to include any individuals who have sat on the company’s management and supervisory boards in 2020, a BaFin spokeswoman said on Wednesday. via German’s watchdog widens probe of possible Wirecard insider trading | News | 1450 99.7 WHTC.
By Securities Docket on July 15, 2020, 8:45 am
Mayer Brown has continued the expansion of its regulatory, investigations and enforcement capabilities with the arrival of prominent federal prosecutor Gina Parlovecchio, who joins the firm as a partner in the global White Collar Defense & Compliance and Regulatory & Investigations practice groups in New York. Previously, Ms. Parlovecchio was an Assistant United States Attorney […]
By Securities Docket on July 15, 2020, 8:30 am
On July 3, 2020, the Department of Justice (DOJ) and Securities and Exchange Commission released the second edition of the Resource Guide to the U.S. Foreign Corrupt Practices Act (2020 Guide). The 2020 Guide refreshes the prior edition by incorporating significant policies that have been released by the DOJ since the first edition. The 2020 […]
By Securities Docket on July 15, 2020, 8:28 am
The Securities and Exchange Commission today announced a $3.8 million award to a whistleblower who provided significant information that helped the SEC disrupt an ongoing fraudulent scheme. The resulting enforcement action returned millions of dollars to harmed investors. via SEC.gov | SEC Issues $3.8 Million Whistleblower Award.
By Securities Docket on July 15, 2020, 7:40 am
As the agency primarily responsible for the investigation of potential misconduct within the financial services sector in the UK, the Financial Conduct Authority (FCA) continues to investigate many diverse forms of suspected misconduct. While the number of cases under investigation by the FCA’s Enforcement Division continues to grow, there have been signs in the past […]
By Securities Docket on July 14, 2020, 10:51 am
Financial services law firm Murphy & McGonigle, which recently celebrated its 10-year anniversary, announced today that it has opened a new office in San Francisco, CA. Mauricio S. Beugelmans, an accomplished financial services and securities lawyer with both in-house and law firm experience in the Bay Area, will lead the San Francisco office. The Murphy […]