Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInDavid Ruder, SEC chair during 1987 crash, dies at 90 – BNN Bloomberg
David Ruder, a former chairman of the U.S. Securities and Exchange Commission whose off-the-cuff comments may have fanned panic selling on what became known as Black Monday, has died. He was 90. He died on Feb. 15, according to Northwestern University, where he served as dean of the law school from 1977 to 1985. No […]
U.S. SEC chair says agency will not impose ‘caps’ on whistleblower awards – Reuters
Asked at a Senate hearing on Tuesday if the rule will be consistent with the statute, which prohibits the SEC from capping awards, Clayton said: “Absolutely.” He added: “I can tell you that what our proposal was intended to do was to make it clear how we make those decisions at the top end and […]
Mary Jo White’s Ohio State Probe Earns $1M for Debevoise & Plimpton | Corporate Counsel
As a result of attorney Mary Jo White’s investigation into Ohio State University head football coach Urban Meyer in 2018, Meyer retained his job after a short suspension and went on to coach his team to victory in the Rose Bowl on New Year’s Day. And White’s law firm, Debevoise & Plimpton, pocketed a cool […]
Republican frustrations grow as SEC chair proves frequent ally of Democrats | Reuters
While the former Wall Street lawyer represents a step to the right from his Democrat-picked predecessor, many Republicans and industry lobbyists say he is not being aggressive enough in pursuing President Donald Trump’s business-friendly agenda. “The relationship…hasn’t been one where we’re exactly on the same page, but we’re communicating,” said Republican Representative Bill Huizenga, who […]
What’s in a Broker’s Name? SEC to Address Titles Used When Advising Investors – WSJ
Speaking at a conference in Washington, Securities and Exchange Commission Chairman Jay Clayton said a regulation requiring brokers to act in the best interest of clients would address the ability of brokers to use titles such as “financial adviser.” Some investor advocates say the title misleads clients into thinking that brokers have the same legal […]
SEC’s Clayton Vows to Do More Exams with Less Funding – AdvisorHub
“This is an example of an area where flexibility is necessary,” Clayton said, according to his prepared remarks. “I expect that for at least the next several years we will need to do more each year to increase the agency’s examination coverage of investment advisers in light of continuing changes in the markets.” He did […]
How Trump’s financial cop on the block should prioritize the job | TheHill
But the markets are asking questions. What can we expect from Clayton? How will he manage all the proposals and policies vying for his attention? And equally important, what happens if the agency doesn’t secure the requisite appropriations, and finds itself unable to invest in the right people and technology to protect U.S. investors? As […]
For Wall Street, there’s a new, more hospitable sheriff in town | TheHill
As Clayton sets his priorities, he has a unique opportunity to reshape securities regulation with a new “tone at the top.” While nobody yet knows the outcomes, we do know the topics that will likely take his attention (absent a major financial event). via For Wall Street, there’s a new, more hospitable sheriff in town […]
What to Watch for From the New SEC Chairman | Orrick, Securities Litigation, Investigations and Enforcement
Last Thursday, Jay Clayton was officially sworn in as the new Chairman of the Securities and Exchange Commission. As the new Chairman takes office, here are a few things we’re keeping an eye on. via What to Watch for From the New SEC Chairman | Orrick, Securities Litigation, Investigations and Enforcement
Senate confirms Trump’s pick to lead SEC, signaling new era – POLITICO
The Senate on Tuesday confirmed Jay Clayton to be chairman of the SEC, infusing the stock market regulator with new leadership that will likely back away from strict enforcement on Wall Street. In a 61-37 vote, eight Senate Democrats and independent Angus King of Maine joined with Republicans to confirm Clayton, despite Sen. Elizabeth Warren’s […]