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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInWarren, Ocasio-Cortez Ask Regulators to Clarify Stance on Crypto Hires
U.S. Senator Elizabeth Warren (D-Mass.) and Representative Alexandria Ocasio-Cortez (D-N.Y.) have asked regulators to clarify their rules on former employees taking roles in the crypto industry. In a letter sent to almost all federal financial regulators, the lawmakers noted “the increasing number of revolving door hires” and asked how long individuals involved in regulating the […]
SEC Whistleblower Awards Program Might Have a Revolving-Door Problem, Study Says – WSJ
Even though the SEC whistleblower award program has been applauded for its success in detecting and investigating potential wrongdoings, the private, unregulated industry of whistleblower attorneys may be distorting the program’s goal to encourage more whistleblowing, a recent research paper by Alexander Platt, associate professor of law at University of Kansas School of Law, said. […]
The Non-Revolving Door by Alexander I. Platt :: SSRN
This paper shows that the door between the SEC and the plaintiffs’ bar does not revolve. Among other things, I show that none of the ten leading plaintiffs’-side firms employ anyone with recent SEC experience doing plaintiffs’ side litigation; none of the enforcement attorneys I identified as working for the agency in 2015 left to […]
New SEC Alums Swarm ‘Revolving Door’ to Financial, Law Firms | Big Law Business
More than half the high-ranking SEC officials who left the agency since January 2016 landed at law and financial firms, with Debevoise & Plimpton LLP leading the pack. Debevoise, private equity manager Blackstone Group LP and other firms hired 15 of the 26 Securities and Exchange Commission officials Bloomberg BNA tracked since their departures were […]
Presidential Candidate O’Malley Unleashes Wall Street Crackdown Manifesto — ThinkAdvisor
Presidential candidate Martin O’Malley issued a 10-page manifesto Thursday promising tougher regulations on Wall Street to help prevent another financial crash, including instituting a “revolving door” ban at regulatory agencies as well as requiring the Securities and Exchange Commission’s enforcement director to be a presidential nominee and doubling the agency’s budget. via Presidential Candidate O’Malley […]
Yet Another Study Debunks ‘Revolving Door’ Worries | Compliance Week
The latest study on the “revolving door” finds that future career prospects motivate SEC enforcement lawyers to be more aggressive during their time at the SEC, not less. via Yet Another Study Debunks ‘Revolving Door’ Worries | Compliance Week
SEC’s Canellos Re-Joining Milbank, Tweed as Global Head of Litigation – Compliance Week
On January 3, 2014, the SEC announced that George S. Canellos, co-director of its Enforcement Division, would be leaving the agency that month but that he had “not yet made future career plans.” Today, Canellos’ post-government plans were revealed, as law firm Milbank, Tweed, Hadley & McCloy announced that Canellos will be joining the firm in mid-March as Global Head […]
Revolving Door: Nothing to Fear But Fear Itself – Compliance Week
You would think that the noise surrounding the supposed “revolving door” problem would die down given (a) the lack of evidence to support it, and (b) the growing research refuting it, but it never really seems to subside. The latest proposals against this so-called scourge involve half-million dollar annual salaries for government workers and lifetime […]
Washington’s Revolving Door Catches SEC – WSJ Washington Wire
Only three of the agency’s five commissioners voted on [JPMorgan] settlement, which included an acknowledgement of wrongdoing by the bank. SEC Chairman Mary Jo White and Republican Commissioner Daniel Gallagher were recused from the case given legal work their previous employers – Debevoise & Plimpton LLC and Wilmer Cutler Pickering Hale and Dorr LLP — […]
A Look at the Recent Turnover in the SEC’s Senior Leadership – Compliance Week
Despite wide-scale recent turnover in its senior leadership and in the Enforcement Division, the SEC says a broader look at movement among its most senior officers shows that departures have consistently been between 15% -18% in the past four fiscal years. via A Look at the Recent Turnover in the SEC’s Senior Leadership – Compliance […]