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Civil Remedies Criminal Law Securities

Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:

U.S. Supreme Court Significantly Limits SEC's Power to Recover Disgorgement

by Jones Day on

On June 5, 2017, in an unanimous ruling in Kokesh v. SEC, No. 16-529, the United States Supreme Court significantly limited the breadth of the Securities and Exchange Commission's primary enforcement tool. The Court held that...more

What is a personal benefit? US Supreme Court issues major insider trading decision - key takeaways

by DLA Piper on

On December 6th, Yesterday, the Supreme Court issued its first insider trading decision in more than two decades, Salman v. United States. The decision clarified uncertainty in insider trading prosecutions that arose...more

UK Market Abuse Regime Extends Its Reach: Implications for Market Participants

by Morgan Lewis on

The new regime shares the same aims as its predecessor—to ensure the integrity of EU financial markets and enhance investor confidence—and keeps pace with market developments such as new trading platforms, new technology, and...more

Top Ten International Anti-Corruption Developments for May 2016

by Morrison & Foerster LLP on

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary...more

FCA Enforcement Action Overview

by Reed Smith on

Reed Smith’s Enforcement Action by the FCA 2016 is a useful overview of enforcement action taken by the FCA in 2016. Enforcement action is important in terms of showing where the focus of the regulator is in terms of...more

An Important Check On The Abuse Of Government Authority

by McGuireWoods LLP on

As citizens of a nation founded on the rule of law, we depend upon law enforcement and prosecutors to protect us from harm and from those who infringe our liberty. In exchange for this protection, we permit these public...more

High Court Reaffirms the Broad Scope of Legal Advice Privilege

by WilmerHale on

In a High Court ruling on 5 November 2015, Mr. Justice Snowden helpfully reaffirmed the established precedent that legal advice privilege is not confined to telling the client the law: it may also attach to factual updates...more

Bridging the Week - August 2015 #3

Hackers and Traders Charged by SEC and Department of Justice in International Securities Fraud Scheme - The computer servers of three major newswire companies were allegedly hacked as part of an elaborate illicit...more

An Example of Cooperation Credit From The SEC

by Dorsey & Whitney LLP on

DOJ and SEC officials repeatedly encourage cooperation. There are benefits for both sides. Cooperation can facilitate the Government’s investigation, providing a road to the scheme. Testimony can aid in obtaining a favorable...more

SEC Settles Another Insider Trading Case Tied To Brocade Deal

by Dorsey & Whitney LLP on

The acquisition of Foundry Networks, Inc., a networking hardware company, by Brocade Communications System, Inc., a technology company specializing in data and storage networking products, announced on July 21, 2008, has...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The SEC filed one new action this week – an administrative proceeding involving the principal of an investment adviser and undisclosed conflicts of interest. The Commission also amended a complaint in an insider trading...more

Second Circuit Lays Out New Rules for Restitution

On February 6, 2015, the United States Court of Appeals for the Second Circuit decided an appeal, United States v. Cuti, which interpreted the restitution provisions of the Victims and Witnesses Protection Act (VWPA). The...more

Raj Rajaratnam Appeals $92 Million Civil Fine to Second Circuit Court of Appeals

by Katten Muchin Rosenman LLP on

Convicted investment fund founder Raj Rajaratnam filed an appeal of his Securities and Exchange Commission case in the United States Court of Appeals for the Second Circuit, arguing that the district court improperly sought...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

As the government fiscal year drew to a close, the SEC continued what appears to be an emerging trend of filing insider trading actions as administrative proceedings rather than civil injunctive actions in Federal Court. The...more

Shadow Regulation: A Call For Judicial Oversight To DPA’s Or NPA’s

by Burr & Forman on

On August 21, 2014, the United States Department of Justice announced a record 16.65 billion dollar agreement to resolve civil claims alleged against Bank of America for improperly concealing the risks of mortgage-related...more

Insider Dealers Ordered to Pay Confiscation Orders in Excess of the Profits Generated from Insider Dealing

On September 15, the UK Financial Conduct Authority (FCA) published a press release in which it announced that a group of persons found guilty of insider dealing in 2012 and 2013 have now been ordered to pay more than £3.2...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Second Circuit upheld SEC Rule 10b-5-2 which defines certain types of relationships as the predicate for insider trading. In reaching its conclusion the Court rejected an argument that an insider trading claim must be...more

Last Week In Securities Litigation (Week ending August 8, 2014)

by Dorsey & Whitney LLP on

Last week the SEC brought an action this centered on hidden fees and a series of actions centered on microcap fraud and investment fund fraud. A pump and dump actions was filed centered on the manipulation of six different...more

Citigroup To Pay $7 Billion To Settle Mortgage Claims

To settle charges related to the packaging, marketing, sale, and issuance of residential mortgage-backed securities (RMBS), Citigroup will pay a total of $7 billion, including a record $4 billion fine to the Department of...more

This Week In Securities Litigation (Week ending August 1, 2014)

by Dorsey & Whitney LLP on

The Commission continued to focus on the markets this week, brining another action involving the operation of a partially dark pool. The ECN operator was a subsidiary of Citigroup. The SEC alleged that confidential customer...more

This Week In Securities Litigation (Week ending May 2, 2014)

by Dorsey & Whitney LLP on

Chair Mary Jo White testified before Congress this week. Her testimony focused on the budget, reviewing the recent work of the agency. The Commission brought a series of civil injunctive and administrative proceedings this...more

This Week In Securities Litigation (Week ending April 11, 2014)

by Dorsey & Whitney LLP on

Former hedge fund giant SAC Capital was sentenced this week. This concluded one of the most prominent insider trading cases. Under the terms of the sentence SAC Capital will no longer accept public funds....more

SEC Settles Spoofing, Unregistered Broker Charges

by Dorsey & Whitney LLP on

High speed trading and its impact on the markets is the topic de jour. Author Michael Lewis claims the markets are “rigged,” a statement which no doubt will help sell his latest book centered on high speed trading. Now the...more

Halliburton Co. v. Erica P. John Fund, Inc.: Assessing Possible Modifications To Basic And The Fraud-On-The-Market Theory

Securities class action lawsuits have long been a fact of life for public companies traded on a U.S. exchange. Since 1997, plaintiffs have filed more than 3,200 securities fraud lawsuits that have resulted in approximately...more

How To Make A Claim Against The Madoff Victim Fund And Other Information

The Madoff Victim Fund, or MVF, is the vehicle that the United States Department of Justice, or DOJ, will use to distribute more than $4 billion in assets forfeited to the United States to victims of the crimes involving...more

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Cybersecurity

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