IA Settles With SEC, USAO After Letter to Investors Admitting Losses
The SEC and the Manhattan U.S. Attorney’s Office brought actions against a hedge fund adviser who lost most of the money raised from investors through risky trading while trying to conceal that fact...
View ArticleThis Week In Securities Litigation (Week ending Dec. 18, 2015)
The Commission closed out the week before the holidays with a joint press conference with the Manhattan U.S. Attorney. The U.S. Attorney and the Director of Enforcement announced actions against former...
View ArticleA New Direction For SEC Enforcement in 2016?
As the new year begins SEC Enforcement appears to be at a cross-roads. Commissioners have, or will, depart; there are, or will be, new appointees. The reconstituted agency will have to determine if its...
View ArticleAnother SEC Insider Trading Case As An Administrative Proceeding
The SEC began the year by filing a settled insider trading case. The action is largely unremarkable as insider trading cases go, although some might question if all the key elements of a claim are...
View ArticleSEC-JPMorgan Securities Settle False Advertising Action
The holiday season may be a time of good cheer. Wall Street banks may not agree, however, at least for this year. As the season began to unfold JPMorgan settled a Commission action centered on...
View ArticleThis Week In Securities Litigation (Holiday edition, Dec. 18, 2015 to Jan. 8,...
During the holiday period the SEC filed three insider trading cases as administrative proceeding. Three actions were brought involving major Wall Street banks; one centered on “parking” allegations...
View ArticleThe SEC’s Cohen Settlement
Steven Cohen settled his long running case with the SEC. In the Matter of Steven A. Cohen, Adm. Proc. File No. 3-15382 (January 8, 2016). In the settlement Mr. Cohen consented to the entry of an order...
View ArticleSEC Exam Priorities for 2016
The SEC’s Office of Compliance Inspections and Examinations or OCIE announced its examination priorities for 2016. Those priorities generally “reflect certain practices and products that OCIE perceives...
View ArticleSEC Brings Another Insider Trading Administrative Proceeding
The SEC filed another settled insider trading action, charging a corporate executive. The action is not remarkable and is straight forward. What makes it noteworthy, however, is that the case is the...
View ArticleSEC Partially Settles Another Market Crisis Banking Fraud Action
While the market crisis ended years ago, the SEC continues to bring cases relating to the period. Now the Commission has filed a partially settled case against eleven executives of Superior Bank and...
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