The SEC finally gave up the ship in its insider trading case against former hedge fund managers Anthony Chiasson and Todd Newman. After the Second Circuit reversed their convictions and the Supreme Court denied cert, the SEC decided not to pursue its civil suit...
By: Sara Kropf There’s no question that corporate executives enjoy certain perks. They come with the job, right? The government can’t outlaw corporate perks, but the SEC has cracked down on the proper disclosure of them. It recently sued the former CEO of...
By: Sara Kropf The SEC has charged Judy Wolf, a former compliance consultant for Wells Fargo Advisors, with falsifying records that were submitted to the SEC during the investigation of a registered Wells Fargo representative. Ms. Wolf allegedly falsified her internal...
By: Sara Kropf In February 2014, Chinese antitrust regulators announced that they suspected wireless technology company Qualcomm Inc. of overcharging its customers and abusing its powerful market position. According to reports, Qualcomm could face fines of up to $1...
By: Sara Kropf As someone who handles litigation and white-collar criminal matters, I'm often troubled by my clients' corporate audit department. It will author lengthy, non-privileged reports about processes at companies that don’t work. Those reports put everyone on...
By: Sara Kropf The SEC and the Office of the Comptroller of the Currency both claimed that TD Bank assisted Scott Rothstein—the Florida lawyer currently serving 50 years in prison for a Ponzi scheme—with committing fraud. The OCC contended that TD Bank violated the...
By: Sara Kropf There have been several high-profile insider trading cases recently. I can’t do justice to the facts of all the recent cases, but here’s a quick sampling of some of the more interesting cases. 1. Use a Facebook Friend. Badin Rungruangnavarat,...
By: Sara Kropf The website for private investment company Oppenheimer & Co. says the company traces its roots back to the 1870s and a gentleman named Harris C. Fahnestock. Mr. Fahnestock was apparently an investment advisor to President Abraham Lincoln. The...
By: Sara Kropf It’s not often that someone wishes the government investigated him earlier. But Philip Falcone, the hedge fund advisor for Harbinger Capital, may be wishing exactly that. Mr. Falcone and Harbinger Capital recently agreed to settle an SEC investigation...
By: Sara Kropf One thing I miss about my former BigLaw firm is having the IT department around to help when something goes wrong with my computer. One thing I don’t miss is having the IT department tell me to reboot my computer every time I called them, no matter what...