The Week in Securities Litigation: Rogue Trader, SEC Expands Market Crisis Probe

As the week drew to a close reports surfaced of a rogue trader who had run up $2 billion in trading losses at UBS in London while the SEC reportedly is expanding its market crisis probe. At the same time Congress heard testimony from SEC Chairman Mary Schapiro regarding the Commission's efforts to...

The Week in Securities Litigation: Urban Clears Name, Charges Filed Against Credit Suisse

Former Farris Baker Watts General Counsel Ted Urban finally prevailed in his long running battle with the SEC to clear his name and reputation. The Commission, on an evenly divided vote, affirmed the initial decision of the Administrative Law Judge, dismissing the failure to supervise charge brought...

The Week in Securities Litigation: Stiffened Sentences For Insider Trading, Securities Fraud

Congress heard testimony about the new approach the Commission is implementing to economic analysis in rule making from SEC Chairman Mary Schapiro this week. That approach focuses on the early and continued involvement of staff economists throughout the rule writing process. This week the U.S. Sentencing...

The Week in Securities Litigation: FCPA The Topic After Mexican Wal-Mart Allegations

The FCPA is the topic of the week following the New York Times article detailing claims of violations in the Mexican subsidiary of Walmart which supposedly have been ignored for years. While that matter is under investigation, the DOJ and the SEC settled another FCPA action which at the moment may be...

The Week In Securities Litigation: SEC Resolves Action With Former Enron Executives, Brings 2 FCPA Cases

This week before Christmas Bloomberg reports that SEC Enforcement Director Robert Khuzami will resign shortly. The Director took over the Division at a difficult time and then presided over its most ambitious reorganization in history. In the last two years the Division has brought record numbers of...

The Week In Securities Litigation: FCPA A Focus, SEC Prevails In Court

The FCPA continued to be a focus this week. Another Alstrom executive was added to a pending criminal prosecution in a superseding indictment charging FCPA violations and money laundering. In court the Commission prevailed in the D.C. Circuit as well as the district court. In the Circuit Court the...