‘Enforcement 40’ for 2020
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July 28 Webcast: The Modernization of Communications and Corporate Investigations
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‘Another Avenue Plaintiffs Have Pivoted To’: The Rise of SPAC-Related Securities Litigation is New, but Maybe Not Novel | National Law Journal
Saltzstein discusses why we’re now seeing more lawsuits targeting these transactions despite the fact that SPACs themselves are not new. In her estimation, the allegations in these cases are not unique or groundbreaking, but the trend is being driven by the plaintiffs bar turning its attention toward SPACs perhaps simply because of the sheer number […]
Biden’s SEC budget request inadequate as agency tackles ambitious agenda, financial watchdogs say – MarketWatch
Biden’s overall fiscal 2022 budget proposal calls for roughly $6 trillion in spending, a 35% increase from pre-pandemic, 2019 spending of $4.4 trillion, but requests only a 5% increase from the 2021 fiscal-year request for the Securities and Exchange Commission — below the average budget increase over the past 25 years. Advocates for financial reform […]
Lisa Monaco Is Confirmed by Senate as Deputy Attorney General – WSJ
The Senate on Tuesday confirmed Lisa Monaco to be deputy attorney general, putting a seasoned national-security official in charge of the Justice Department’s day-to-day operations as it confronts a rise in domestic extremism and threats from abroad. Ms. Monaco, 53 years old, was confirmed in a 98-2 vote, with Democrats and Republicans alike praising her […]
The Sure Thing podcast: ‘It was just chaos’: The day police cracked an $8 million scam
One of the men behind Australia’s biggest insider trading case has broken his silence, detailing his role in a heist of almost $8 million involving secret accounts, betrayal and a police chase resembling a mafia sting. Christopher Hill, who worked at the Australian Bureau of Statistics at the time, and passed confidential information to NAB […]
Remember Enron? It Could Happen Again on Biden’s Watch
There are several relatively straightforward steps the Biden administration could take. They involve the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB). Some would require legislation, and some assume the new administration can muster a working majority at the SEC. But to really make a difference, the Biden administration will […]
FinHub to Branch out from SEC, Becoming Independent Office
Change is afoot within the SEC. Not only will the regulatory body see its current Chairman, Jay Clayton, exit his role in the coming weeks, but a restructuring is taking place. The ‘Strategic Hub for Innovation and Financial Technology’ – a working group within the SEC – will soon find itself branching off, becoming a […]
The Top Ten D&O Stories of 2019 | The D&O Diary
The liability environment for directors and officers is always in a state of change, but 2019 was a particularly eventful year in the D&O liability arena, with important consequences for the D&O insurance marketplace. The past year’s many developments have significant implications for what may lie ahead in 2020 – and possibly for years to […]
‘Bitcoin will go to zero’: Davos talks up the future of blockchain
“I do believe it will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything,” Jeff Schumacher, founder of BCG Digital Ventures, said during a CNBC-hosted panel in Davos, Switzerland. Schumacher is a big investor in blockchain-focused companies. During the debate, Glenn Hutchins, co-founder […]
Keeping Tesla Public Won’t Save Elon Musk From the SEC—or Angry Investors | WIRED
Don’t expect the feds to get less interested in Tesla just because it has decided to stay public. “I think the SEC’s interest in Tesla has been heightened, so they’ll be kept under close watch,” says Stephen Diamond, who studies securities law and corporate governance at the Santa Clara University School of Law. In fact, […]