Legal Developments in Securities Law

January 26, 2016

SEC Dodd-Frank Whistleblower Claim Update The SEC recently released its Fiscal Year 2011 Annual Report on the Dodd-Frank Whistleblower Program, found here. The report noted that 334 whistleblower tips were received in only the first seven weeks of the program. The most common tips were concerning market manipulation, corporate disclosures and financial statements, and offering … Continue reading “Legal Developments in Securities Law”

Legal Developments in Securities Law

January 26, 2016

Madoff Employee Admits Guilt : Three Simple Ways to Avoid Facilitating Securities Fraud at Your Job Recently, a former trader at Bernard Madoff’s investment firm admitted to creating fictitious, backdated trades in Madoff’s notorious Ponzi scheme. Although certain types of securities fraud violations may be clear to an employee, such as being asked to falsify … Continue reading “Legal Developments in Securities Law”

Legal Developments in Securities Law

January 26, 2016

SEC Seeks to Raise Potential Civil Penalties Earlier this week, the SEC’s chairperson, Mary Schapiro, sent a letter to Senators Jack Reed and Mike Crapo urging that Congress change the current rules on how the SEC can fine individuals and companies and to plead for greater maximum civil penalties. Currently, the SEC can impose up … Continue reading “Legal Developments in Securities Law”

Legal Developments in Securities Law

January 26, 2016

SEC Investigations: What Happens at each Step of an Investigation? In the news recently, many different stages of an SEC investigation have been reported on – the city of Miami and Miami-Dade county received subpoenas which asked for communications with executives and representatives of the Marlins, a Major League Baseball team, and Harbinger Capital and … Continue reading “Legal Developments in Securities Law”

Legal Developments in Securities Law

January 26, 2016

Update: SEC Appeals Judge Rakoff’s Ruling Denying Proposed Settlement One of our earlier blog posts referenced Judge Rakoff’s criticism of the SEC’s proposed settlement with Citigroup – found here. Unsurprisingly, Judge Rakoff rejected the parties’ proposed settlement. The SEC has now filed an appeal, citing legal error and claiming that, “We believe the district court … Continue reading “Legal Developments in Securities Law”

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