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This Week in FCPA-Episode 58, the Declination Edition

by Thomas Fox on

After last week’s guest announcers, Jay and I return for a wide-ranging discussion on some of the week’s top compliance related stories, including: 1. The first Declination of the Session’s Justice Department, Linde gas....more

“Sting” Money Laundering Scheme and Cooperating Client Ensnares Attorney

by Ballard Spahr LLP on

The District Court for the Eastern District of New York has denied motions for acquittal and new trial by a Florida attorney convicted at trial of assisting in an undercover money laundering “sting” operation....more

This Week in FCPA-Episode 57, the Father’s Day Edition

by Thomas Fox on

This week, as their tribute to their Dad, we are guest hosted by Jay’s daughters, Millie and Michela. They lead us through a wide-ranging discussion on some of the week’s top compliance related stories, including: 1. The...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

A jury in Connecticut largely acquitted three former Nomura Securities RMBS trades charged with conspiracy, securities and wire fraud tied to allegations that the securities were mismarked. This is the second criminal case...more

Blockchain Week in Review - June 2017 #5

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

U.S. Agencies Step Up Insider Trading Enforcement Against Foreign Nationals, Particularly Chinese Traders

by Perkins Coie on

Investigations and enforcement actions by the U.S. Securities and Exchange Commission (SEC) and U.S. Department of Justice (DOJ) targeting potential illegal insider trading by foreign nationals, particularly by those in...more

Reflections on Kokesh v. SEC: Potential Ramifications of SEC Disgorgement Being a Penalty

by King & Spalding on

In the week since the Supreme Court’s unanimous decision in Kokesh v. SEC, which rejected the Securities and Exchange Commission’s longstanding position that disgorgement was an equitable remedy not subject to the five-year...more

Newest criminal spoofing case features coordinated spoofing, front running

by Thompson Coburn LLP on

On Thurs., June 1, the Justice Department entered into a plea agreement with a trader named David Liew, publicly revealing the existence of the third-ever criminal spoofing case, which had been filed under seal on Jan. 3....more

SEC Continues to Use Advance Data Analytics to Investigate Insider Trading

The SEC has continued to pursue a number of insider trading cases this year, both large-scale and small. Some of those matters involved trades that yielded relatively small amounts of profits: $40,000-$60,000. Why does the...more

Reported Criminal Probes Regarding Bond Valuations Highlight the Importance of Valuation Procedures

According to recent news reports, the DOJ and the SEC are investigating the possible improper use of third-party broker quotes by hedge fund managers to value illiquid debt securities in their portfolios. Prosecutors are...more

Government Leaks Lead to Landmark Insider Trading Case

On May 24, 2017, the SEC for the first time brought charges based on allegations of insider trading on confidential government information. The alleged insider trading scheme involved tips related to three announcements by...more

Bond Fraud Trial Shows Need to Scrutinize Municipal Revenue Generation

Ramapo, N.Y., Town Supervisor Christopher St. Lawrence is in the middle of a multi-week trial on two dozen securities fraud charges stemming from municipal bond issuances and accounting practices in Ramapo, a Rockland County...more

Bridging the Week - May 2017 #3

ICE Futures U.S. Settles Disciplinary Actions Against Three Respondents For Alleged Block Trade Violations For US $325,000 Combined Fine - ICE Futures U.S. settled two related disciplinary actions against three persons for...more

Day 10 Of One Month to Better Compliance through HR-Sales Incentives and Compliance

by Thomas Fox on

In the Department of Justice’s Evaluation of Corporate Compliance Programs, Prong 8 Incentive and Disciplinary Measures it states: Incentive System –How has the company considered the potential negative compliance...more

Blockchain Week in Review – April 2017 #3

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

This Week in FCPA-Episode 51, the Cinco De Mayo Edition

by Thomas Fox on

Show Notes for Episode 51, for the week ending May 5, the Cinco de Mayo Edition Over some breakfast tacos and Mexican coffee, Jay and I have a wide-ranging discussion on some of the week’s top compliance related stories. We...more

Day 3 of One Month to Better Compliance Through HR-JPMorgan Chase FCPA Enforcement Action

by Thomas Fox on

Today, I conclude my review of FCPA enforcement actions that involved the corporate hiring function. From these three cases I have considered, it is clear that HR must be involved in compliance and if HR hiring controls are...more

Cyber Attack Protection Steps for Investment Firms

We are reaching out to our investment firm clients to advise them of an email “spear phishing” scam that has targeted investment firms recently, attempting to lure their personnel into inadvertently revealing their email...more

Investment Banker Charged with Insider Trading by SEC, USAO

by Dorsey & Whitney LLP on

Investment banker Avaneesh Krishnamoorthy was supposed to report his outside brokerage account and that of his wife to his firm. He did not....more

Bridging the Week - April 2017 #3

Employees Criminally Charged With Theft of Trade Secrets From Two Financial Services Trading Firms: One former employee of Susquehanna International Group LP (“SIG”) and another from KCG Holdings, Inc. were criminally charged...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

In a holiday shortened week the Commission began preparation for argument before the Supreme Court in an action which could have a significant impact on its enforcement program. The question for resolution is whether the...more

Anti-money laundering bulletin - Spring 2017

by DLA Piper on

DLA Piper’s Financial Services Regulatory team welcomes you to the Spring 2017 edition of our Anti-Money Laundering (AML) Bulletin. In this issue, we provide updates on AML developments and enforcement actions in the UK and...more

Bridging the Week - April 2017 #2

SEC Chairman Nominee Advances: Jay Clayton took another step to becoming chairman of the Securities and Exchange Commission when the US Senate Committee on Banking, Housing and Urban Affairs approved his nomination for the...more

Red Notice Newsletter - March 2017

Anticorruption Developments - SEC Chairman Nominee Jay Clayton Receives Confirmation Hearing - On March 23, 2017, SEC Chairman Nominee Jay Clayton testified before the Senate Banking Committee at his confirmation...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

U.S. Senators Elizabeth Warren, Sherrod Brown, Robert Menendez and Brian Schatz requested that Inspector General Carl Hoecker investe Acting SEC Chairman Michael Piwowar in a letter dated March 29, 2017. The letter notes that...more

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