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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 trading wars being waged by the Manhattan U.S. Attorney's Office and the SEC. His former affiliation with SAC Capital, the huge trading profits in the case, and the manner in which they were made has fueled speculation about possible charges against that firm and its founder.
The SEC settled an investment fund fraud action filed initially in 2010 this week but did not bring any civil injunctive actions or administrative proceedings, excluding 12j and tag along actions. The CFTC filed two actions, one centered on the protection of customer funds and another based and on a cherry picking scheme. In New York another defendant was sentenced in the on-going bid rigging actions centered on the municipal bond market. The SFC announced that it lost an action based on aiding and abetting unlicensed activity.
Report: The SEC's 2012 Agency Financial Report details its performance over the last government fiscal year which ended September 30, 2012. The Report provides an overview of the work of the Commission during the period. Two sections focus on the Division of Enforcement and highlight many of its significant cases.
SEC Enforcement: Filings and settlements
Weekly statistics: This week the Commission did not file any civil injunctive actions or administrative proceedings (excluding tag-along-actions and 12(j) actions).
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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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