The Commission brought a significant market crisis case this week, centered on the sale of complex, high risk financial instruments to unsophisticated school districts which ended in millions of dollars in losses.
Insider trading was a key focus for the SEC, DOJ and the FSA. The Commission brought cases against a boyfriend who misappropriate inside information from his girlfriend and a father and son. The DOJ filed a companion case against the father and son in which each defendant pleaded guilty and brought charges against another alleged tipper in the expert network investigation. In the UK the FSA brought insider dealing charges against three individuals.
Finally, the DOJ won two more convictions in FCPA cases. The cases are part of a series of cases arising out of dealings with Haiti Teleco.
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For more cutting edge commentary on developing securities issues, visit SEC Actions, a blog by Thomas Gorman.
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