‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInJay Clayton and Jeff Wall to Rejoin Sullivan & Cromwell
Sullivan & Cromwell LLP announced today that Jay Clayton, Chairman of the U.S. Securities and Exchange Commission from May 2017 through December 2020, will be returning to the Firm, resident in the Firm’s New York office, as Senior Policy Advisor and of counsel. Mr. Clayton will also return to his role as an Adjunct Professor […]
SEC Commissioners Square Off Over Enforcement Settlement Process | Bass Berry & Sims
In one of her first official actions as Acting Chair of the Securities and Exchange Commission (SEC or Commission), Allison Herren Lee reversed a major policy implemented by recently departed SEC Chairman Jay Clayton involving the SEC enforcement settlement process. This decision could significantly impact the SEC settlement process by causing uncertainty for settling entities […]
Manhattan D.A. Recruits Top Prosecutor for Trump Inquiry – The New York Times
As the Manhattan district attorney’s office steps up the criminal investigation of Donald J. Trump, it has reached outside its ranks to enlist a prominent former federal prosecutor to help scrutinize financial dealings at the former president’s company, according to several people with knowledge of the matter. The former prosecutor, Mark F. Pomerantz, has deep […]
Apollo Names Ex-SEC Chairman Jay Clayton as Lead Independent Director – WSJ
Apollo Global Management Inc. has appointed former Securities and Exchange Commission Chairman Jay Clayton to the newly created role of lead independent director on its board, the latest step in a sweeping overhaul of corporate governance at the investment firm. Mr. Clayton, who stepped down from his role at the SEC in December, will also […]
NYDIG Files For Bitcoin ETF Approval | Nasdaq
Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) filed for approval to offer a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) today. Source: NYDIG Files For Bitcoin ETF Approval | Nasdaq
Citibank Loses Bid to Recall $500 Million in Mistaken Repayment of Revlon Loan – The New York Times
It was one of the worst Wall Street mishaps in years: Citigroup accidentally wired $900 million last year to a group of lenders locked in a bitter dispute with the beauty company Revlon. On Tuesday, a federal judge ruled that the recipients don’t have to have to return the cash. Source: Citibank Loses Bid to […]
Former Goldman Sachs analyst and brother charged with insider dealing | Financial Conduct Authority | The Guardian
Two brothers who worked at Goldman Sachs and leading City law firm Clifford Chance have appeared in court charged with insider dealing and fraud. Mohammed Zina, 32, who worked as an analyst at Goldman Sachs, and his brother Suhail Zina, 33, who worked as a solicitor at Clifford Chance, appeared at Westminster magistrates court on […]
Pretrial settlement not in the cards in SEC vs. Ripple case
The changing of the guard at the United States Securities and Exchange Commission seems to have affected any possible pretrial settlement in the SEC’s case against Ripple. This conclusion was part of a joint discovery letter filed on Monday before Judge Analisa Torres of the U.S. District Court for the Southern District of New York. […]
Goldman Sachs to Offer Its Investing Know-How to the Masses – WSJ
You used to need at least $10 million in investible assets to draw the attention of wealth managers at Goldman Sachs Group Inc. Now, all it takes is $1,000 and a smartphone. The Wall Street firm on Tuesday is set to unveil Marcus Invest, a low-cost digital platform that allocates and automatically rebalances individuals’ wealth […]
Biotech Firm Hit With COVID-19-Related Securities Suit | The D&O Diary
It has been nearly a year since the coronavirus outbreak in the U.S. first led to widespread closures and disruptions. Throughout that time, plaintiffs’ lawyers have continued to file securities class actions and other claims against companies affected by the pandemic. On February 12, 2021, in the latest of these COVID-19-related securities lawsuits, a plaintiff […]