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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInConvicted hedge fund founder Raj Rajaratnam releases book
In the book, Rajaratnam will also offer his perspective on the four-year investigation by federal prosecutor Preet Bharara into Rajaratnam’s epic spree of crooked stock picks that landed him at least $53.8 million in ill-gotten gains. The book includes some inside gossip about alleged misdeeds of former Goldman Sachs board member and fellow ex-con Rajat Gupta, […]
U.S. SEC will publish GameStop post-mortem ‘shortly,’ Gensler says | SaltWire
The U.S. Securities and Exchange Commission (SEC) is close to publishing a post-mortem of the GameStop trading saga in which retail investors on the Reddit social media site banded together to push up the video game retailer’s shares, SEC Chair Gary Gensler said on Tuesday. Source: U.S. SEC will publish GameStop post-mortem ‘shortly,’ Gensler says […]
Joe Walker Joins Orrick’s White Collar Team
Orrick announced today that Joe Walker, one of the nation’s leading white collar and regulatory compliance advisers and former U.S. Department of Justice (DOJ) trial lawyer, has joined the firm as a partner in Washington, D.C. Joe is on the short-list of go-to lawyers in guiding companies through complex global government investigations, with particular focus […]
Former U.S. Attorney and Assistant U.S. Attorney for the Northern District of California, David L. Anderson and Sheila A.G. Armbrust, Rejoin Sidley
Sidley is pleased to announce that David L. Anderson and Sheila A.G. Armbrust have rejoined the firm as partners in its San Francisco office after serving as the U.S. Attorney and Assistant U.S. Attorney for the Northern District of California, respectively. Mr. Anderson and Ms. Armbrust are members of the firm’s White Collar: Government Litigation […]
SEC Surpasses $1 Billion in Awards to Whistleblowers with Two Awards Totaling $114 Million
The Securities and Exchange Commission today announced awards of approximately $110 million and $4 million to two whistleblowers whose information and assistance led to successful SEC and related actions. With these awards, the SEC’s whistleblower program has now paid more than $1 billion in awards to 207 whistleblowers, including over $500 million in fiscal year […]
Former SEC Complex Financial Instruments Unit Chief Joins Skadden
Skadden is pleased to announce that Daniel Michael, who recently stepped down as chief of the Complex Financial Instruments Unit of the Securities and Exchange Commission’s Division of Enforcement, is joining Skadden as a partner. Mr. Michael, who will be based in our New York office, will advise clients on SEC enforcement and regulatory matters […]
SEC is short staffed, needs more help to police crypto, China-linked firms, Gensler says
Chairman Gary Gensler said Wednesday that the SEC is trying to juggle an unprecedented list of financial challenges with a smaller staff. “We are short staffed,” Gensler told CNBC’s “Squawk on the Street.” “It might sound odd to say that at an agency with 4,400 remarkable, dedicated staff working remotely during this challenging pandemic. But […]
Why Coinbase Will Lose Its Battle with the SEC | LinkedIn
Though Coinbase has fired the first salvo with its Blog and Twitter barrages, the SEC will undoubtedly respond with its own thunderous bombardment of devastating canon and ordinance – in the form of a hefty and far-reaching enforcement action. And just like other SEC forays into crypto-enforcement, when the gunsmoke settles, the SEC will be […]
Four is the Loneliest Number: How strategic rounding of EPS results may predict aggressive financial reporting
While the occurrence of quadrophobia in a company may represent legitimate accounting discretion and may not necessarily indicate any potential violations of accounting standards or efforts to manage earnings, the study took a deeper look to determine, if management practiced strategic EPS rounding, would they be more likely to engage in other forms of problematic […]
Key Takeaways From a Second Summer Blitzkrieg of SEC Cybersecurity Enforcement | LinkedIn
The SEC just fired its second summer cybersecurity enforcement salvo in the span of two weeks, turning its enforcement torrent from cyber-related disclosure failures at public companies, to cybersecurity failures at SEC-registered financial firms. In its first salvo, fired on August 16, 2021, the SEC went ballistic. Without alleging fraud, without charging any individuals and, in […]