‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInThese Two Law Firms Made $1 Billion From Mortgage-Crisis Litigation – Law Blog – WSJ
Newly disclosed information from a federal government agency gives an intriguing look at two law firms that scored big from the financial crisis. According to the disclosure from the National Credit Union Administration, more than $1 billion in contingency fees were paid to Washington, D.C., trial and appellate firm Kellogg, Huber, Hansen, Todd, Evans & […]
Prosecutions from the Financial Crisis: When Is It Safe to Come Out of the Woods? – Forbes
Recently, however, a number of news articles proclaim the end of financial crisis-related prosecutions, which raises the question, is it really over? The answer is, probably not, but maybe soon. via Prosecutions from the Financial Crisis: When Is It Safe to Come Out of the Woods? – Forbes
Senator Elizabeth Warren Requests Formal Investigation About Why The Obama Administration Did Not Prosecute Wall Street — IB Times
Massachusetts Senator Elizabeth Warren on Thursday requested a formal investigation into why the Obama administration did not bring criminal charges individuals and corporation involved in the 2007-2008 financial crisis. In a letter sent Thursday to Michael E. Horowitz, the Inspector General of the Department of Justice, Warren said her staff had found that members of […]
Wall Street Crime: 7 Years, 156 Cases and Few Convictions – WSJ
Gary Heinz is little known on Wall Street, but he belongs to a select club. In 2013, the former UBS Group AG employee was sent to prison on charges of rigging bids tied to the municipal-bond market. Now, he sits at a halfway house in San Antonio, awaiting his release in July. It rarely happens […]
Coming Soon: ‘The Big Short’ Movie to be Released Dec. 2015 | Compliance Week
‘The Big Short,’ a film based on the best-selling book by Michael Lewis about traders who foresaw and profited massively on the collapse of the housing and subprime credit market in 2007-08, will open nationwide on December 23. Check out the trailer and details about the film’s star-studded cast here. via Coming Soon: ‘The Big […]
William North and Kevyn Rakowski of defunct Wilmington Trust indicted; SEC also brings fraud charges – Philadelphia Business Journal
William North, 55, of Bryn Mawr, Pa., and Kevyn Rakowski, 61, of Lakewood Ranch, Fla., Wilmington Trust’s chief credit officer and controller, were charged with one count of making false statements to the Securities and Exchange Commission (SEC), and three counts of making false statements to Federal Reserve. The two executives stand accused of concealing […]
SEC’s Lawsuit Against Freddie Mac Execs Fizzles Out in Unusual Settlement | Compliance Week
Yesterday, the SEC’s case against three Freddie Mac executives fizzled out in an unusual settlement in which the agency and the executives agreed that “no party is the prevailing party.” via SEC’s Lawsuit Against Freddie Mac Execs Fizzles Out in Unusual Settlement | Compliance Week
In Corporate Crimes, Individual Accountability Is Elusive – NYTimes.com
Professor Garrett analyzed 303 nonprosecution and deferred prosecution agreements with corporations from 2001 to 2014 in which companies avoided guilty pleas by paying fines and agreeing to other measures. It would seem axiomatic that in all of those cases, individuals actually committed the crimes, since corporations are legal entities and can’t be charged unless their […]
Holder Sets Deadline for Financial-Crisis Cases Against Individuals – WSJ
Attorney General Eric Holder wants Justice Department lawyers to decide within three months whether they can win cases against any individuals for actions ahead of the financial crisis. via Holder Sets Deadline for Financial-Crisis Cases Against Individuals – WSJ
Facing No Urgent Crises, SEC ‘Spreads Its Wings’ — Think Advisor
As the big-name enforcement cases from the financial crisis draw to a close, the Securities and Exchange Commission has the “luxury” of freedom to tackle a wide variety of enforcement issues, its enforcement chief says. via Facing No Urgent Crises, SEC ‘Spreads Its Wings’ — Think Advisor