‘Enforcement 40’ for 2020
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By Securities Docket on September 30, 2020, 11:35 am
The Securities and Exchange Commission today announced an award of almost $30 million to two insider whistleblowers whose tips led SEC staff to open an investigation. The first whistleblower, who was the first to alert SEC staff of potential wrongdoing and provided substantial, ongoing assistance, received an award of approximately $22 million. The second whistleblower […]
By Securities Docket on September 30, 2020, 8:18 am
The Morrison decision overturned decades of case law in which the lower courts struggled to apply the then-applicable “conduct and effects” test to determine whether or not the U.S. securities were applicable in any given circumstance. In a decision written by the late Justice Antonin Scalia, the Court said in Morrison that the U.S. securities […]