Legal News Video Update - April 26, 2010

Among the stories on this video edition of LexisNexis Legal News, reviews of two recent Supreme Court decisions, a new lawsuit filed by the SEC, and a $200 million settlement of a securities class action lawsuit. (Please visit the site to view this video)

K&L Gates on Dodd-Frank Wall Street Reform: Future Rulemaking

Excerpt: On June 30, 2010, the House adopted the conference report on H.R. 4173, the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Bill" or "Bill"). The Senate is expected to follow suit when it returns from recess later in July. This alert provides a high...

Securities and Exchange Commission Sets Up Dodd-Frank Wall Street Reform and Consumer Protection Act Comment Submission Process

By Allison Bell, Senior Editor/Web Editor, National Underwriter Life & Health The U.S. Securities and Exchange (SEC) has set up a Dodd-Frank Wall Street Reform and Consumer Protection Act comment submission process. The SEC has posted a list of Dodd-Frank act comment submission form links...

Securities and Exchange Commission Adopts Investment Advisers Act of 1940 Rule 206(4)-5, Pay-to-Play, for Investment Advisers

by Cary J. Meer, Mark Mehrespand and Ben Jacqmotte Excerpt: On July 1, 2010, the Securities and Exchange Commission (the "SEC" or "Commission") adopted Rule 206(4)-5 (the "Rule") under the Investment Advisers Act of 1940 (the "Advisers Act") to address...

CFTC Proposes Commodity Pool Regulation And Private Fund Dual Regulation

by Susan I. Gault-Brown, Cary J. Meer and Lawrence B. Patent CFTC's proposed rule amendments would subject operators of private funds that trade futures contracts, commodity options, and swaps to commodity pool regulation and may subject private fund advisers to dual SEC/CFTC regulation. Excerpt...

J.P. Morgan Securities Agrees To $228 Million Settlement In Muni Bond Reinvestment Action

WASHINGTON, D.C. - (Mealey's) J.P. Morgan Securities LLC (JPMS) has agreed to pay $228 million to settle charges brought by the Securities and Exchange Commission and other state and federal authorities in connection with its fraudulent rigging of at least 93 municipal bond reinvestment transactions...

Citigroup Bet Against Housing Market Investors, SEC Says, Will Pay $285M To Settle Claims

WASHINGTON, D.C. - (Mealey's) Citigroup Global Markets Inc. has agreed to pay $285 million to settle claims that it misled investors about a collateralized debt obligation (CDO) "that was tied to the U.S. housing market in which Citigroup bet against investors as the housing market showed signs...

Judge Orders Former Galleon Partner To Pay Record $92.8 Million Penalty

NEW YORK - (Mealey's) A federal judge in New York on Nov. 8 ordered former Galleon Management Co. General Partner Raj Rajaratnam to pay a nearly $93 million civil penalty to the Securities and Exchange Commission for his role in a massive insider trading scheme ( Securities and Exchange Commission...