Bruce Carton

I’m astounded and almost (but not quite!) speechless after reading the SEC’s complaint from last week against a former Nixon Peabody associate for insider trading. The SEC alleges that a client, Teleplus Consumer Services Inc., called the lawyer and asked her to draft a letter of intent about a possible merger between Teleplus and a […]

In Hong Kong today, former Morgan Stanley Managing Director Du Jun was sentenced to seven years in prison and fined HK$23.3 million ($3 million) for insider trading. District Court Judge Andrew Chan stated at the sentencing that “I can’t think of another reason other than being driven by sheer greed for his action.” Chan added […]

On Monday, Judge Jed Rakoff issued his order rejecting the proposed $33 million settlement of the SEC case against Bank of America. The order raises numerous issues for the SEC such as whether it must now amend its case to include individual defendants, and whether it will now take the case to trial, but to […]

Today, the DOJ announced the conviction of Los Angeles-area film executives Gerald Green and Patricia Green of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and money laundering laws, as well as substantive violations of the FCPA and U.S. money laundering laws. The convictions of this husband and wife, which came on Friday of […]

The recent conviction of Du Jun, a former managing director of Morgan Stanley Asia’s fixed-income department from 2006 until May 2007, highlights the major crackdown on insider trading that has occurred in that territory in the past few years. Du now faces up to seven years in jail after a court found him guilty this […]

I will be covering today’s Senate Hearing (“Oversight of the SEC’s Failure to Identify the Bernard L. Madoff Ponzi Scheme and How to Improve SEC Performance”) along with several guest panelists via the interactive discussion below. Please visit this page today at 2:30 pm to join me, Compliance Week editor Matt Kelly, former SEC enforcement […]

To all of you who have been in and out of the office these past few weeks (mainly out), here is my video countdown of the top 5 main things you missed. Welcome back! 5. On Sept. 2, Judge Shira Scheindlin of the SDNY ruled that the ratings of certain securities that were distributed to […]

Since it first began to unfold in December 2008, the Madoff case has been almost beyond belief: A former Chairman of the NASDAQ, managing billions of dollars for many of the world’s largest and most prestigious institutions, is a complete fraud? His supposed investment advisory business that for decades appeared to be among Wall Street’s […]