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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInIf Top Exec Has Covid-19, Does the Company Have to Disclose It? | The D&O Diary
As the coronavirus outbreak has spread, the COVID-19 disease has struck millions across the globe. The demographics and geographic distribution of the disease will make for interesting study when the current outbreak has ended, but clearly the disease has struck both the mighty and modest. The high-profile victims include the Prince of Wales and the […]
To Trade or Not to Trade During the COVID-19 Outbreak? – FEI
The U.S. Securities and Exchange Commission (SEC) in the past few weeks has issued several reminders about prohibitions on insider trading on the basis of material, nonpublic information. Additionally, the SEC is encouraging companies to timely report material effects that COVID-19 has had on a company, including what management expects the future impact will be, […]
“Tenacious” SEC Whistleblower Awarded More Than $27 Million | The D&O Diary
Another interesting feature about this award is the fact that the Commission went out of its way to make it clear that it was not only not punishing this whistleblower for first trying to go through internal channels before reporting to the SEC, but that in fact the Commission increased the amount of the award […]
SEC Aggressively Suspends Trading Of 17 COVID-19 Solutions Suspected As Fraudulent
The SEC has been attacking COVID-19 fraud aggressively over the past three weeks using its civil enforcement authority to suspend trading in securities of companies making suspect or questionable disclosures about vaccines, protective devices, testing, mitigation and technology. The compression of 17 trading suspensions into as many trading days highlights how the SEC’s Enforcement Division […]
Join Us at Securities Enforcement Forum West 2020 (Virtual)
Securities Enforcement Forum West has gone virtual for 2020!
SEC Issues $5 Million Whistleblower Award
The Securities and Exchange Commission today announced a $5 million award to a whistleblower who provided significant information that led to a successful enforcement action. The whistleblower provided critical evidence of wrongdoing, which helped save time and resources in the SEC’s investigation, and the whistleblower suffered a unique hardship as a result of raising concerns […]
Sen. Kennedy urges Barr to deny early prison release for Bernie Madoff, Alan Stanford | Fox News
Sen. John Kennedy, citing the coronavirus crisis, urged Attorney General Bill Barr on Monday to deny early prison releases for Allen Stanford, Bernie Madoff and others who have been convicted of “serious fraudulent crimes.” Kennedy, R-La., on Monday penned a letter to Barr after the attorney general last month directed the Federal Bureau of Prisons to grant […]
The SEC Is Watching Advisors’ COVID-19 Response | ThinkAdvisor
In response to the COVID-19 pandemic and disruption in the financial markets, the Securities and Exchange Commission has been monitoring the asset management industry and providing guidance to investment advisors. Although much of this initial effort has focused on regulatory challenges, expect the SEC examination and enforcement functions to scrutinize investment advisors in the years […]
Former Goldman banker accused in foreign bribery scheme | Financial Times
A former Goldman Sachs banker helped pass millions of dollars in bribes to Ghanaian officials to curry favour for his clients’ plans to build an electrical power plant, the Securities and Exchange Commission alleged on Monday. The SEC said in a complaint filed in New York that Asante Berko “took deliberate measures to prevent his employer from […]
Faegre Drinker White-Collar Co-Leader Leaves for Duane Morris | The Legal Intelligencer
Just as she expects her practice to pick up in the wake of economic downturn and resulting increased financial regulatory scrutiny, a Philadelphia-based former SEC lawyer has made a move from Faegre Drinker Biddle & Reath to Duane Morris. Mary Hansen, who joined Duane Morris on Monday, is a partner in the firm’s trial practice […]