Bruce Carton

Enforcement Action’s Bruce Carton offers a preview of three terrific webcasts that he will be moderating in the first two weeks of November. Click here for more information or to sign up for these free webcasts.

In yet another ongoing FSA insider trading case in the UK, a former analyst at Evolution Securities denied this week that he passed inside information to a friend who went on to make at least 75,000 pounds ($123,000). The analyst at the London-based investment bank, Robin Chhabra, testified that he was not in possession of […]

Details about the scheme carried out by law school friends Gil Cornblum and Stan Grmovsek are beginning to emerge following Grmovsek’s guilty pleas in Toronto and New York on Tuesday to a variety of fraud and insider trading charges. The allegations describe one of the most brazen insider trading operations in recent memory. The case […]

In the UK, the FSA’s high-profile insider trading trial against dentist Neel Uberoi and his son, Matthew, continues in the Southwark Crown Court. Prosecutors allege that Matthew leaked inside information about three deals his team at Hoare Govett was working on to his father Neel, who then allegedly made a £150,000 profit from trading on […]

In her speech today entitled “The Road to Investor Confidence” at the SIFMA Annual Conference, SEC Chairman Mary Schapiro provided some Enforcement-related statistics for January-September 2009 that I had not seen before. The statistics indicate that the SEC has been quite busy this year as compared to the first nine months of 2008. Specifically, Schapiro […]

In Australia, “litigation funders” have been riding high for several years now. As previously discussed here, publicly-traded companies such as IMF (Australia) Ltd., the dominant class action litigation funder in Australia, have reported surging earnings even in the worst of economic times due to the rise of class actions in Australia and the absence of […]

First, Madoff victims seized on the SEC’s admitted failures in the Madoff case, which were further documented by the SEC Inspector General’s scathing report on the matter, as the basis for a lawsuit in federal court seeking millions in damages. Now, even a defendant in a Madoff-related SEC case is making an issue of the […]

As I mentioned here, the “Less than Zero” insider trading case against a former Nixon Peabody associate got even worse last week when federal prosecutors in Washington charged the former associate with the crime of making false statements to SEC investigators. Prosecutors charged the lawyer criminally for allegedly making a false statement to investigators in […]

Thought you might want to jam out today to the Galleon rap. Yes, billionaire and alleged insider trader Raj Rajaratnam and his cohorts at Galleon made so much money for a time that they inspired a rap song. “It’s the good ship Galleon, when Wall Street has a rally on. When traders trade, everyone in […]

As previously discussed here, I was just about speechless when I read about the former Nixon Peabody associate charged with insider trading by the SEC. As I said then, “the chance of this lawyer getting away with the insider trading alleged by the SEC was Z-E-R-O, and that is only because we cannot go below […]