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By Securities Docket on August 20, 2018, 8:45 am
Which brings up an obvious question: Why is a member of Congress permitted to serve as a board director of a for-profit company? What could possibly justify such a blatant conflict of interest? via The Congressional Guide to Insider Trading – Bloomberg.
By Securities Docket on August 13, 2018, 10:03 am
Republican Christopher Collins, an early backer of Donald Trump’s presidential bid, has suspended his re-election campaign for the U.S. House to fight charges he engaged in insider trading in the shares of an Australian biotechnology firm. via Collins Halts Campaign After Insider Trading Charges – Bloomberg.
By Securities Docket on August 10, 2018, 11:05 am
Collins didn’t gather the inside information in Congress — that would violate the 2012 Stock Act, which made it illegal for members and their staff to trade on privileged knowledge having to do with ongoing legislation. Rather, if prosecutors are correct, he exploited his position as a director of Innate Immunotherapeutics Ltd. In that role, in June […]
By Securities Docket on July 24, 2018, 10:28 am
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION to conduct a hearing on the following nominations: Mr. Elad L. Roisman, of Maine, to be a Member of the Securities and Exchange Commission… via hearing | Hearings | United States Committee on Banking, Housing, and Urban Affairs.
By Securities Docket on March 19, 2018, 9:42 am
The U.S. Senate voted 67 to 31 on Wednesday to ease bank rules, bringing Congress a step closer to passing the first rewrite of the Dodd-Frank reform law enacted after the 2007-2009 global financial crisis. via U.S. Senate approves bill rewriting post-crisis bank rules.
By Securities Docket on October 13, 2017, 1:03 pm
A congressional probe of Rep. Chris Collins says there is “substantial reason” to believe the Clarence Republican may have been involved in insider trading on an Australian biotech stock, a violation of federal law. Collins was the largest shareholder of Innate Immunotherapeutics. In a written statement, the congressman says he has followed proper guidelines. via […]
By Securities Docket on June 30, 2017, 2:11 pm
Bryan Wood, a former Republican staff member on the House Financial Services Committee, started recently as head of the SEC’s legislative and intergovernmental affairs office, said two people familiar with the matter. Wood will serve as Clayton’s eyes and ears on Capitol Hill, an important job because the SEC depends on Congress to approve its […]
By Securities Docket on May 3, 2017, 9:46 am
The Senate on Tuesday confirmed the nomination of Jay Clayton, a Wall Street lawyer with decades of experience helping companies to weather regulatory scrutiny, to lead the Securities and Exchange Commission. As chairman of the SEC, Clayton will police many of the same large banks that he has spent decades representing, including Goldman Sachs and Barclays. He […]
By Securities Docket on April 25, 2017, 1:29 pm
The draft of the Financial Choice Act 2.0, released last week by the House Financial Services Committee and aimed at overturning much of the Dodd-Frank Act, contains provisions that could change how the Securities and Exchange Commission polices the markets. Unlike similar legislation introduced last year by Representative Jeb Hensarling, Republican of Texas and chairman […]
By Securities Docket on April 10, 2017, 12:48 pm
A bipartisan group of U.S. Senators wants to increase the penalties on securities scofflaws. A bill entitled “The SEC Penalties Act” was released at the end of March and was co-sponsored by Iowa Republican Chuck Grassley, Rhode Island Democrat Jack Reed, North Dakota Democrat Heidi Heitkamp, and Vermont Democrat Pat Leahy. The legislation seeks to […]