Bruce Carton

I haven’t updated the International Insider Trading Case Map in way too long but when I do, I’ll be adding Estonia to the list. Last week, Estonian prosecutors charged a former analyst at SEB Enskilda AS with insider trading in the shares and options of Baltic telecommunications firms AS Eesti Telekom and TEO LT. According […]

So did you know that sometimes when you are convicted of a massive securities fraud, and you owe tens of billions of dollars to thousands of victims, that the U.S. Marshals Service will come to your (former) home(s), seize EVERY item you own, and sell it at an auction? That is what is going down […]

Last week, the House Financial Services Committee approved more than $1 billion in additional funds annually over five years to the SEC, which would more than double the agency’s funding. Now the Senate is moving forward with its own plan for funding the SEC that reportedly would allow the agency to fund itself based on […]

FINRA, the Financial Industry Regulatory Authority, reportedly has a new question it likes to ask the broker-dealers it regulates: How do you vet your cleaning crews? According to an article in Investment News, three broker-dealers recently told Accounting and Compliance International that they had been asked this very question. One consultant at ACI speculated that […]

Twitter has recently introduced a useful new “lists” feature that allows users to make lists of feeds in categories of their own choosing. Even if you are not actively using Twitter and do not have an account, you can still use lists to follow the updates of entire groups of people with whom you share […]

If you are in an insider trading ring and your ring-buddies are using a “nickname” of any kind for you or others involved, it is all but certain that the nickname is going to be prominently mentioned when the SEC issues its press release about the case. Today’s case involving the so-called “Octopussy” was a […]

As previously discussed here, a recent court decision by Australia’s Federal Court in the Brookfield Multiplex Limited case essentially stopped the litigation funding industry in its tracks when it found that funding arrangements and solicitors’ retainer for representative proceedings constituted an unregistered Managed Investment Scheme in breach of the Corporations Act 2001 (Cth). The effect […]

Late on Friday night, the SEC published an exhibit list to the Inspector General’s Madoff report that was essentially useless. The document was simply a laundry list of exhibit numbers with no summary or description of any kind, meaning that a user would need to click on each and every link to see what “Exhibit […]