LexisNexis® Legal Newsroom
O.K., So The SEC Sued Goldman Sachs - Now What?

The SEC's blockbuster announcement last Friday of its civil enforcement action against Goldman Sachs and one of its investment bankers rocked the securities markets and made headlines in the financial press around the world. Undoubtedly because of Goldman's prominence and perhaps also because...

SEC Files Market Crisis Cases Against Bank of America, UBS

The Commission filed two new market crisis cases, one in conjunction with the Department of Justice. Once action is against Bank of America, N.A. centered on the sale of interests in an entity known as BOAMS 2008-A. SEC v. Bank of America, N.A., Civil Action No. 3:130-cv-0447 (W.D.N.C. Filed August 6...

SEC Files Market Crisis Cases Against Bank of America, UBS

The Commission filed two new market crisis cases, one in conjunction with the Department of Justice. Once action is against Bank of America, N.A. centered on the sale of interests in an entity known as BOAMS 2008-A. SEC v. Bank of America, N.A., Civil Action No. 3:130-cv-0447 (W.D.N.C. Filed August 6...

SEC Brings Another Market Crisis CDO Case

The market crisis ended but enforcement actions stemming from it have not. Battered financial giant JPMorgan, fresh from its settlement with the CFTC relating to the London Whale episode, reportedly is about to settle for its role in the mortgage debacles which many believe were at the center of the...

SEC Announces $131.8 Million Settlement With Merrill Lynch

WASHINGTON, D.C. — (Mealey’s) The Securities and Exchange Commission announced on Dec. 12 that Merrill Lynch, Pierce, Fenner & Smith Inc. has agreed to pay $131.8 million to settle claims that it made “faulty disclosures about collateral selection for two collateralized debt obligations...

Consent Decrees, the District Court and the SEC: The Citigroup Decision

The Second Circuit handed down its long awaited opinion in SEC v. Citigroup Global Markets, Inc., Nos. 11-5227-cv, 11-5375-cv and 11-5242-cv (2 nd Cir. June 4, 2014). The decision arises out of the refusal of the District Court to enter a proposed consent decree agreed to by the parties to resolve a...