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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInA Short Primer on the New Law of Insider Trading | New York Law Journal
Practitioners, listen up! You need to unlearn much of what you think you know about the law of insider trading. That law is changing—and quickly. In addition, new legislation has passed the House by an overwhelming margin and could conceivably pass the Senate this year. via A Short Primer on the New Law of Insider […]
NYSE is closing trading floor in response to coronavirus spread – Business Insider
The New York Stock Exchange said on Wednesday it would temporarily close its iconic trading floors as measures aimed at slowing the spread of the novel coronavirus continue to force Wall Street to adapt business practices. NYSE said in a statement it would move to fully electronic trading starting on Monday, and would be initiating […]
Exelon Appoints David Glockner as Executive Vice President, Compliance and Audit
Exelon announced today it has named David Glockner, a former top Securities and Exchange Commission (SEC) official and chief of the Criminal Division in the U.S. Attorney’s Office for the Northern District of Illinois, as its new executive vice president of Compliance and Audit. Glockner, who currently serves as chief compliance officer for global investment […]
SEC Has Two ‘Suspected’ Coronavirus Cases, Agency Official Says (1)
Two workers at the SEC’s Washington headquarters may have the new coronavirus, an agency official said in a court filing. The Securities and Exchange Commission’s Enforcement Division has implemented an emergency policy of “either requiring or strongly encouraging telework for its personnel, depending on their individual circumstances and each employee’s physical proximity to the workstations […]
US Congressman Introduces Crypto-Currency Act of 2020 | Cointelegraph
A United States congressman is the latest working to clarify and determine which U.S. regulator is responsible for which digital assets. On March 9, Representative Paul Gosar (R-AZ) introduced the “Crypto-Currency Act of 2020,” a bill that looks to choreograph a wide range of digital assets to answer to the appropriate regulator. via US Congressman […]
Cruise Line Shareholder Files First Coronavirus-Related Securities Suit | The D&O Diary
After I published a post last week suggesting that there could be D&O claims arising out of the COVID-19 coronavirus outbreak, several people suggested to me that I was being alarmist and expressed deep skepticism about the possibility of coronavirus-related claims. After all, they said, there were no D&O claims filed in connection with the […]
Wall Street’s Court Halts New Jury Trials Over Virus – Bloomberg
The court that oversees Wall Street is suspending new jury trials at least through next week, joining a global slowdown of court systems based on public hearings in the face of an outbreak that dictates the opposite. The federal court in Manhattan, one of the busiest dockets in the U.S. and the nation’s main forum […]
Why In-House Counsel Need to Watch for Insider Trading, Public Disclosure Issues From COVID-19 | Corporate Counsel
The COVID-19 coronavirus pandemic means in-house counsel need to keep an eye on potential insider trading by employees at all levels who may gain access to material, nonpublic information about supply chain or other disruptions that could affect a company’s bottom line, or its financial outlook. Inside counsel also need to consider whether and how to handle […]
SCOTUS Oral Argument Suggests SEC Disgorgement Will Survive—But Might Be Limited To Victim Compensation | Seyfarth Shaw LLP – JDSupra
Seyfarth Synopsis: On Tuesday, March 3, 2020, the Supreme Court heard oral arguments in Liu et al v. Securities and Exchange Commission, in what some thought would be a landmark case on the SEC’s power to seek disgorgement from a court for violations of securities laws.[1] In questioning both parties, the Justices did not seem […]
U.S. SEC staff stay home after employee treated for coronavirus symptoms – Reuters
Staff at the U.S. securities regulator were working from home on Tuesday after an employee at its Washington, D.C., headquarters was treated for coronavirus symptoms, the Securities and Exchange Commission said. The markets regulator also canceled Wednesday’s scheduled public meeting of the agency’s commissioners, after saying earlier on Tuesday that it would go ahead with […]