LexisNexis® Legal Newsroom
Kevin M. LaCroix
SEC Files Record Number of Independent Enforcement Actions in Fiscal 2015

According to the agency’s recently released enforcement activity statics, the SEC’s overall enforcement activity and the number of independent enforcement actions both increased in the fiscal year 2015 (which just ended on September 30) compared...

Thomas O. Gorman
SEC Sanctions Another Entity for Not Following Its Own Procedures

A continuing focus of SEC enforcement is compliance by entities with their disclosed procedures. The Commission’s latest action in this regard resulted in the payment of nearly $6 million by a Credit Rating Agency that not only failed to comply...

Thomas O. Gorman
SEC – Broker From Grand Central Insider Trading Scheme Settle

The scheme was perfect . Broker Vladimir Eydelman of Oppenheimer & Co. would place the trades; law school graduate Steven Metro, a clerk at Simpson Thatcher, would misappropriate the inside information; mortgage broker Frank Tamayo, a law school class...

Thomas O. Gorman
This Week in Securities Litigation (Week ending October 23, 2015)

The Manhattan U.S. Attorney announced the filing of motions to dismiss the insider trading conviction of Michael Steinberg, formerly a portfolio manager at SAC Capitol, and six others in the wake of the Second Circuit’s decision in Newman. SEC...

David N. Feldman
Supremes Refuse Insider Trading Case- Prosecutions Now Tougher

Earlier this month, the US Supreme Court said it would not hear a case in which the appeals court overturned two insider trading convictions. By refusing to hear the case, they effectively let stand the decision below, which many say will make it much...

Thomas O. Gorman
Investment Advisor Admits Theft to Settle SEC Fraud Charges

The Commission filed another action in which admissions were required as part of the settlement. The action centers on an investment adviser who misappropriated just under $2 million from his clients. As part of the settlement he admitted the theft. SEC...