Read Securities Law news, alerts, and legal commentary from leading lawyers and law firms:
Spitzer: Lanny Breuer at DOJ Was a "Disaster"
Compliance Advice on SEC’s Market Access Rule from Julie Dixon of Titan Regulation
Lawyer: European M&A Could Rise Despite Risks
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Are Political Intelligence Practice Groups Too Risky?
Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
Cohen: Cyprus Is Not A Template For Future Restructurings
Release of new book on the 'Best Practices Under the FCPA and Bribery Act"
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
STOCK Act Loses Much of Its Teeth, but Members of Congress Aim to Change That
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Raj Mahajan, Allston Trading CEO, Talks HFT and the Business of Prop Trading
Lessons Learned from the BizJet Executives FCPA Enforcement Actions
Konczal: Dodd-Frank Reforms Get Roughed Up in Court
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Sullivan & Cromwell's M&A Hotline is Ringing
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
The Securities and Exchange Commission (SEC) recently charged the City of Harrisburg, Pennsylvania (the City), with misleading investors about its financial health in the annual State of the City Address, as well as in its...more
In this issue: - CII Submits Rule 10b5-1 Rulemaking Petition to the SEC - ISS Publishes Updated FAQs for its Proxy Voting Policies - CFTC Issues Final Order on Cross-Border Swaps - CFTC Issues No-Action...more
The Commodity Futures Trading Commission (CFTC) recently announced its second enforcement action against a commodity trader for engaging in the manipulative scheme called “spoofing.” U.S. Commodity Futures Trading Commission...more
In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive...more
On December 13, the FSA published a press release announcing that Thomas Ammann, a former investment banker and FSA Approved Person at Mizuho International plc, had been sentenced to 2 years and 8 months imprisonment for two...more
In This Issue: - Financial Industry Developments · CFTC Final Rule on Clearing of Credit Default Swaps and Interest Rate Swaps · Fed, Treasury Proposed Amendments to Bank Secrecy Act Definitions...more
Over the past several months, plaintiffs' lawyers have stepped up attacks on executive compensation disclosures in proxy statements. Although to date most of these attacks have been unsuccessful, the number of case filings is...more
On November 19, the U.S. District Court for the Southern District of New York held that the FHFA’s state-law claims against a financial institution with regard to the offering of certain residential mortgage-backed securities...more
The SEC Enforcement Division’s Asset Management Unit has brought some substantial cases over the last year, including a number arising out of its Aberrational Performance Inquiry. Another focus for the unit has been...more
On November 14, the SEC reported the results of its enforcement program for the fiscal year ending September 30, 2012. During the year, the SEC filed 734 enforcement actions, which included an increasing number of actions...more
The Department of Justice and Securities Exchange Commission loudly have trumpeted victories achieved in their renewed battle against insider trading and Wall Street malfeasance, repeatedly warning that there are more cases...more
On November 14, the UK Financial Services Authority (FSA) announced that it had fined Savoy Investment Management Limited (Savoy) £412,000 (approximately $653,000) for failing to take reasonable care to ensure the suitability...more
Over two years ago, Congress enacted Section 951 of the Dodd-Frank Act, which requires public companies to conduct an advisory shareholder vote on the company’s executive compensation plan – the so-called “say-on-pay vote.”...more
The Securities Exchange Commission’s Annual Report on the Dodd-Frank Whistleblower Program for Fiscal Year 2012 (the “Report”), released yesterday, reveals a number of things. The SEC has received a lot of tips, complaints,...more
Statutes of limitations exist for good reason: Over time, evidence can be corrupted or disappear, memories fade, and companies dispose of records. Moreover, people want to get on with their lives and not have legal battles...more
On October 12, 2012, in response to the recent AIJ scandal, the Financial Services Agency of Japan (the “Japanese FSA”) published a draft amendment to certain rules (“Draft Rules”) intended to revamp the regulation and...more
A federal court jury in Manhattan returned verdicts on Monday, November 12, largely exonerating the two most senior Reserve Management Company executives in a Securities and Exchange Commission enforcement action accusing...more
In This Issue: EU Regulation on Short Selling: Impact on U.S. Issuers of Structured Notes - On November 1, 2012, the regulation (the “Regulation”) of the European Parliament and Council of the European Union on...more
In this issue: > Telstra issued with direction to comply with TCP Code > Trader pays $19,800 for misrepresenting broadband services > ACCC makes final access determination for non-NBN local bitstream...more
The FSA has fined two firms a total of £250,000 for failing to provide accurate and timely transaction reports to the FSA in respect of reportable transactions carried out....more
In the wake of the subprime mortgage meltdown and ensuing global credit crisis, the SEC is more devoted than ever before to examination and enforcement efforts directed at the mutual fund industry. The class action bar also...more
On October 31, the Federal Energy Regulatory Commission proposed a record penalty of almost $500 million against the Barclays Group and four Barclays traders, charging them with manipulating prices for electricity in the...more
This issue of the Credit Crunch Digest focuses on a class action against 12 banks alleging manipulation of the Libor rate; lawsuits, investigations and settlements involving Wells Fargo & Co., Credit Suisse AG, JP Morgan...more
On October 24, the UK Financial Services Authority (FSA) announced that it had fined two firms for failing to provide accurate and timely transaction reports. Plus500UK Limited (Plus500), an online contacts for difference...more
Annual report prepared by the Securities and Exchange Commission's Office of the Whistleblower, detailing efforts to implement the Dodd-Frank mandated whistleblower incentives and protection program over the past twelve...more
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