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Material Nonpublic Information Hedge Funds Enforcement Actions

Dechert LLP

SEC Fines Broker-Dealer for Inadequate Information Barriers

Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) on February 13, 2017, issued a cease and desist order (Order) and imposed a $100,000 civil penalty against broker-dealer Sidoti & Company, LLC (Broker-Dealer), to settle...more

McDermott Will & Emery

Left Swinging: Why Mickelson Went Uncharged For Insider Trading

McDermott Will & Emery on

In Depth - The Securities and Exchange Commission recently revealed details of an insider trading case against a gambler named William Walters, who allegedly engaged in insider trading based on information he obtained...more

Latham & Watkins LLP

The Circuits Are Split: Are Tangible Benefits Required for Insider Trading Liability?

Latham & Watkins LLP on

The Ninth Circuit’s recent decision calls into question the Second Circuit’s definition of “personal benefit” for insider trading liability in criminal prosecutions. On July 6, 2015, United States District Court Judge...more

Dorsey & Whitney LLP

Personal Benefit Test Does Not Apply To Misappropriation Theory of Insider Trading — USAO

Dorsey & Whitney LLP on

In U.S. v. Newman, Nos. 13-1837-cr, 13-1917, 2014 WL 6911278 (2nd Cir. Decided Dec. 10, 2014) the Second Circuit handed prosecutors perhaps the only defeat they have suffered in recent years in an insider trading cases. After...more

Brooks Pierce

Ghost of David Sokol Haunts SEC’s Insider Trading Case against Szymik and Peixoto

Brooks Pierce on

It never actually became a case, but maybe you remember this matter from a few years ago. In January 2011, former Berkshire Hathaway executive David Sokol bought about 100,000 shares in Lubrizol Corporation shortly before...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2013: Political Intelligence Firms – Insider Trading and Enforcement Shifts...

Dechert LLP on

Insider trading remains a top priority for the Securities and Exchange Commission (SEC) and Department of Justice (DoJ). In fiscal year 2012, the SEC filed 58 enforcement actions against 131 individuals and entities and the...more

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