News & Analysis as of

Insider Trading

Supreme Court 2016-17 Recap

The politics surrounding the appointment of a new justice to the U.S. Supreme Court dominated the news cycle during the 2016-17 term, but the Court’s decisions themselves have been far from controversial. As the term draws to...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

Insider Trading Is Like A Dog Named “Stay”

by Allen Matkins on

Insider trading cases remind me of the following joke attributed to stand-up comic Steven Wright...more

SEC and U.S. Attorney’s Office Continue Their Pursuit of Criminal Actions Against Purveyors of “Political Intelligence”

by Foley & Lardner LLP on

On May 24, 2017, the United States Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission (SEC) launched their latest criminal and civil salvos against prohibited insider trading by...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Chairman Clayton continued to build the senior staff this week, appointing Acting Enforcement Division Director Stephanie Avakian and Sullivan and Cromwell partner Steven Peikin as Co-Directors of the Division of Enforcement....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Hoping to reverse recent years of struggles, J. Crew is bidding farewell to CEO Mickey Drexler (though he’ll stay on as chairman) in favor of West Elm’s James Brett....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

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The Commission filed one settled administrative proceeding this week involving an investment adviser. The Order charged cherry picking, making misrepresentations to clients regarding certain fees and a failure to trade a fund...more

New Criminal and SEC Charges Signal Aggressive Enforcement of Insider Trading Liability for Disclosure of Political Intelligence

by Ropes & Gray LLP on

On May 24, 2017, the U.S. Attorney’s Office for the Southern District of New York (“SDNY”) and the U.S. Securities and Exchange Commission (“SEC”) announced insider trading charges relating to a scheme in which a federal...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

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A Dutch court has backed the local Akzo Nobel in a bid by Elliot Mgmt to remove Akzo’s chairman after ignoring multiple overtures from PPG for the pain and chemicals giant. Elliot had hoped to force a special shareholder...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Heading into a long holiday weekend the Chairman continued to fill out the senior staff of the agency. Peter Uhlmann, a staff veteran who has held several senior management positions, was appointed as Managing Executive in...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Several members of healthcare hedge fund Deerfield Mgmt have been implicated in an insider-trading case over the alleged use of confidential information about gov’t financing to trade shares in affected health care companies....more

SEC, USAO Charge Four With Insider Trading Tied to Political Intelligence

by Dorsey & Whitney LLP on

The Commission resolved an earlier action against a political intelligence firm that had ties to the Centers for Medicare & Medicate Services or CMS by requiring admissions, a cease and desist order and revamped compliance...more

Bridging the Week - May 2017 #4

Innocuous Changes in CME Group Globex Rule Could Inadvertently Increase Potential FCM Liability Bigly: CME Group announced amendments to its rule related to Globex order entry that will affirmatively require all persons that...more

SEC, Cooperman Settle Insider Trading Claims

by Dorsey & Whitney LLP on

The Commission settled its hotly contested insider trading case against well-known hedge fund manager, Leon Cooperman. SEC v. Cooperman (E.D. Pa. Filed Sept. 21, 2016)....more

Senators Send SEC, EPA, Letter On Renewable Fuel Credit Market

by Bergeson & Campbell, P.C. on

On May 9, 2017, Senator Elizabeth Warren (D-MA), along with seven additional Democratic Senators, sent a letter to the Securities and Exchange Commission (SEC), the U.S. Environmental Protection Agency (EPA), and the...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The new Chairman continues to build out the senior staff, making key appointments. Specifically, the Chairman appointed: Jaime Klima, formerly co-chief of staff under Acting Chairman Piwowar, as his Chief Counsel; Lucas...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Jon Corzine’s plotting his Wall Street comeback, and he’s planning on using the unpredictable nature of the new administration to help him (and his new hedge fund) get there....more

Business Litigation Report - April 2017

Renegotiation of, or Withdrawal from, NAFTA: Context and Possible Consequences - (“NAFTA”) is a trade agreement signed by Canada, Mexico, and the United States that came into force on January 1, 1994. Its goal was to...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Times gives us some insight into the opaque (but powerful) HNA Group—the Chinese entity that began with Hainan Airlines and has grown into a global investing and acquisition powerhouse that is now the largest shareholder...more

Regulatory Litigation Update - May 2017

Insider Trading in the E.U. and U.S. Markets—An Ocean Apart? With increasing momentum towards global regulatory convergence—driven predominantly by G20 commitments—it is noteworthy that some important (and practically...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Two former senior executives of Magyar Telecom, controlled by Deutsche Telekom AG, resolved long running FCPA charges with the Commission. The charges stem from the 2011 settlements of the company with the SEC and DOJ tied to...more

Administrative Law Judge Rules Against SEC In Insider Trading Case

by Shearman & Sterling LLP on

On April 18, 2017, Securities and Exchange Commission (“SEC” or “Commission”) Administrative Law Judge (“ALJ”) James Grimes dismissed an administrative proceeding instituted by the Commission against Georgia real estate...more

MMT finds against SFC in insider dealing case

by Hogan Lovells on

In another decision against the SFC, the Market Misconduct Tribunal ("MMT") has found Mr Cheng Chak Ngok ("Mr Cheng"), former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited,...more

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