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... Read More

SEC enforcement brought another insider trading action this week in addition to a case alleging a manipulation, one claiming violations of Regulation M, Rule 105 and one alleging a failure to supervise. The Manhattan U.S. Attorney's Office secured... Read More

NEW YORK - (Mealey's) The U.S. attorney for the Southern District of New York, in conjunction with the Federal Bureau of Investigation, on Nov. 21 announced the unsealing of insider trading charges against a former portfolio manager for a division... Read More

Speculation about SAC Capital and Steve Cohen, insider trading and Facebook dominated securities enforcement litigation this week. Although SAC Capital has tentatively resolved matters for the moment with enforcement officials, a ruling in private litigation... Read More

After resolving insider trading charges against Diamondback Capital in the Dell insider trading cases, the Commission filed two more settled insider trading actions. SEC v. Shafer, Civ. Action No. 1:12-CV-00062 (S.D. Ohio Filed Jan. 24, 2012); SEC v.... Read More

Budgets were a key topic this week. The President proposed one which would increase the SEC's funding. The agency also proposed a budget for FY 2013 which would increase the size of the Enforcement Division by adding 191 positions. In Court the... Read More

Financial fraud and insider trading have long been priorities for SEC enforcement. Years of enforcement experience should give the agency expertise in these matters. That expertise coupled, with a judicious use of prosecutorial discretion, and a recognition... Read More

Chinese affiliates of major audit firms and market professionals were the focus of securities enforcement litigation this week. Five PRC based affiliates of major international accounting firms were named as Respondents in an administrative proceeding... Read More

SEC Chairman Elise Walter and CFTC Chairman Gary Gensler testified before a Senate Committee this week, focusing on the implementation of Dodd-Frank. The SEC also approved the budget for the PCAOB. Two former senior executive in the organization of... Read More

Scandal surfaced again at the SEC this week. The SEC IG referred a matter involving the former general counsel of the agency to the DOJ. The matter centers on conflicts arising out of his handling of the Madoff clawback claims for the Commission. That... Read More

In the week ending with "April Fools Day," the Commission continued to issue proposed regulations to implement the Dodd-Frank Wall Street and Consumer Protection Act. SEC Enforcement focused on investment fund fraud actions, filing or resolving... Read More

As the Galleon insider trading trial draws to a close and the Lindsey FCPA trial moved forward in the Central District of California, one of the few senior executives charged in a market crisis case was found guilty by a jury after a ten day trial. SEC... Read More

In this holiday shortened first week of the year, one of the most significant current cases moved forward with the entry of a not guilty plea by Mathew Martoma to insider trading charges. Mr. Martoma is the latest person charged in the on-going insider... Read More

The focus this week was on white collar criminal securities cases. First, Rajat Gjupta, the former Goldman Sachs director convicted of passing confidential information to former hedge fund mogul Raja Rajartnam was sentenced. Second, Mr. Rajartnam's... Read More

As the end of the government fiscal year approaches, the Commission filed several significant actions. Two involved Goldman Sachs and a former employee in a pay-to-play scheme centered on political contributions and business in the municipal markets.... Read More