‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInHolmes Prosecutors Say Texts Show Theranos Beset With Problems – Bloomberg
Prosecutors say Holmes’ and Balwani’s messages about the approval process will offer jurors a look back in time, revealing their intent to deceive investors -– an element the government must prove to win convictions. The messages were collected by securities regulators in a related civil case — though many remain sealed in court filings. “The […]
Jay Clayton’s legacy at the SEC: productive or partisan? – InvestmentNews
Kurt Wolfe, a securities compliance attorney at Troutman Pepper, also said Clayton leaves with a reputation for getting things done. “He’s been an effective chairman in many respects,” he said. “He shepherded through a large number of new rules and amendments. Not everyone likes all of them, and that cuts both ways. Nobody got everything […]
Getting Away With Murder | by Jed S. Rakoff | The New York Review of Books
Criminal law and its enforcement are notoriously hypocritical. It is bad enough that, as Anatole France wrote in 1894, “the law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, beg in the streets, and steal loaves of bread.” But now, more than a century later, even the […]
SEC Chairman Jay Clayton Confirms Plans to Conclude Tenure at Year End
Jay Clayton, Chairman of the Securities and Exchange Commission, confirmed today that after serving for more than three and a half years, he will conclude his tenure at the end of this year. Chairman Clayton was sworn in on May 4, 2017, and will leave the SEC as one of its longest serving Chairs. During […]
SEC Awards Over $1.1 Million to Whistleblower for Independent Analysis
The Securities and Exchange Commission today announced an award of over $1.1 million to a whistleblower whose independent analysis led the staff to look at new conduct during an ongoing investigation. The whistleblower’s information and exemplary assistance helped the agency bring an emergency action preventing further investor harm. This whistleblower examined publicly available materials and […]
Biden SEC Likely to Push More Climate, Diversity Disclosures
“Depending on who is the next chair, the shift might be either reversion to the mean or whiplash inducing,” said Urska Velikonja, a Georgetown University Law Center professor who studies the SEC. Potential contenders for the job include former SEC Commissioners Kara Stein and Robert Jackson, as well as Georgetown University Law Center Professor Chris […]
Wall Street Knows Who It Doesn’t Want at SEC: Gensler or Bharara
The uneasiness started late last week, when news broke that Gary Gensler — a scourge of Wall Street when he led the Commodity Futures Trading Commission — had been tapped to examine financial regulators for the president-elect. That fueled concerns that Gensler himself might be in line for the top job at the SEC or […]
SEC Cashed in Big from Crypto ICOs in 2020 | Coinspeaker
The report noted that the record-breaking sum of money was realized by the Enforcement Division of the US Securities and Exchange Commission and they were proceeds from illegal income bordering on the activities of Wall Street firms, insider trading fines, ICOs amongst others. As highlighted, about $1.26 billion dollars was accrued from SEC nabbed unregistered […]
What to Expect From the Biden Administration
Over the weekend, former Vice President Joseph R. Biden, Jr. was declared the winner of the U.S. presidential election. Although President Trump has yet to concede and press reports suggest he will continue to make his case in court, thoughts have turned to what the Biden administration will mean for federal regulation of business and […]