‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInExclusive: SEC forensics unit sought resources, cyber training ahead of 2016 hack — Reuters
In August 2016, just two months before the U.S. Securities and Exchange Commission discovered its corporate filing system had been hacked, the SEC’s internal watchdog, Carl Hoecker, received a plea for help from his new forensics investigative unit. In a three-page memo that was shared with U.S. Congressional staff and seen by Reuters, the head […]
Fantasy homes: Mexican builder settles $3.3bn accounting fraud charges — GCR
Desarrolladora Homex agreed to a settlement after the US Securities and Exchange Commission (SEC) used satellite photography to prove the company never started many of the developments it claimed to have finished. At one site in the state of Guanajuato, Homex reported that every planned home had been built and sold by the end of […]
Newest weapon in US hunt for insider traders paying off — Dailytimes
In April, the SEC released a plan to establish a database that stores every trade order, execution and cancellation. Known as a “consolidated audit trail,” it is a central repository that is expected to begin getting data from stock exchanges and FINRA by late 2017. Thomas Sporkin, a former senior SEC official with the law […]
U.S. securities regulator expands use of powerful software: source – Business Insider
The U.S. Securities and Exchange Commission (SEC) is expanding an effort that allows its staff to search massive amounts of data for signs of insider trading and other securities violations, a person familiar with the matter said. The SEC is awarding a five-year, $90 million contract to privately held Palantir Technologies to provide software for […]
SEC Cites ‘Analysis and Detection Center’ in Recent Insider Case | Compliance Week
In its Litigation Release announcing a recent high-profile insider trading case, the SEC stated that it detected the insider trading “through trading data analysis tools in its Analysis and Detection Center” — an initiative that has been in the works for several years. via SEC Cites ‘Analysis and Detection Center’ in Recent Insider Case | […]
The NYSE’s Rush to Judgment
The NYSE’s posture is disconcerting to say the least. No matter what caused the NYSE trading halt (cyberattack, bad leaver, software glitch, configuration difficulty, coding disruption or otherwise), it is not wise to rule out a cyberattack without first conducting an independent, truth-seeking investigation. And stating that the WSJ and United data breaches were not […]
High Tech, Fantasy Accounting – The New York Times
But there’s a more troubling aspect of the current exuberance for technology stocks: the degree to which so many of the popular companies with premium-priced shares promote financial results and measures that exclude their actual costs of doing business. These companies, in effect, highlight performance that is based more on fantasy than on reality. High […]
Aiming for SEC’s big data project, Sungard and Google bet on the cloud | Computerworld
To bid for a massive U.S. government contract, Sungard has teamed up with Google to build a prototype cloud system that could store six years’ worth of U.S. stock and financial trading data and let regulators and stock traders scrutinize this mountain of information. The work is being done to compete for a U.S. Securities […]
Letting the CAT Out of the Bag – WatersTechnology
In her February keynote address at the annual Securities and Exchange Commission (SEC) Speaks conference in Washington, DC, SEC Chair Mary Jo White called the soon-to-be-developed Consolidated Audit Trail (CAT) “a game changer for monitoring and overseeing the market.” But five years after the Flash Crash, and several market dislocations later, efforts to implement the […]
Meet the SEC’s Brainy New Crime Fighters – WSJ
The SEC is mustering its mathematical firepower in its Center for Risk and Quantitative Analytics, which was created last year soon after Mary Jo White took charge of the agency to help it get better at catching Wall Street misconduct. The enforcement unit, led by 14-year SEC veteran Lori Walsh, is housed deep within the […]