In this post yesterday, I discussed Mary Schapiro’s comments at the Securities and Exchange Commission’s Roundtable on Credit Agencies, in which she stated that the role of credit rating agencies must be an area for the agency’s “intense review” as it considers how to promote investor protection and restore confidence. Schapiro laid out numerous, fundamental […]
Bruce Carton
Posted inFrom the Archive
SEC’s Schapiro: “Intense Review” of Rating Agencies Needed
In her opening remarks today at the Securities and Exchange Commission’s Roundtable on Credit Agencies, SEC Chairman Mary Schapiro stated that the role of credit rating agencies must be an area for the agency’s “intense review” as it considers how to promote investor protection and restore confidence. Schapiro stated that while the SEC has undertaken […]
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Three Excellent Webcasts on SEC Enforcement Issues
Over the next three weeks, Securities Docket has three outstanding webcasts lined up on different aspects of SEC Enforcement: APRIL 21: “SEC Enforcement Update: A Wounded Animal is a Dangerous Animal” This webcast will feature Michael MacPhail of Holland & Hart, LLP and Patrick Hunnius of White & Case, LLP: In a sharp detour from […]
Posted inRegulatory Enforcement
Can New Enforcement Director Restore SEC’s Image?
Robert Khuzami began his new job as director of the Enforcement Division at the Securities and Exchange Commission on March 30. His arrival marks the first change in leadership for the Enforcement Division since 2005. Khuzami joins the SEC from Deutsche Bank AG in New York, where he was a top lawyer on its staff. […]
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Reviewing the Restacking
Remember the “Restacking Project,” the poorly-timed, $4 million reshuffling of offices for nearly all of the 2,000-plus employees at the SEC’s 3-year-old DC headquarters that has now been going on for many months? As previously discussed here, the Restacking Project already has its own newsletter (the “Restacker”), hotline number, help desk in Room 3465, and […]
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A Chat With the SEC’s Robert Khuzami
The new Director of the SEC’s Division of Enforcement, Robert Khuzami, has as much or more on his plate these days than anyone in Washington, D.C., so I was very grateful when he agreed to spend some time on Friday speaking to me about his new position and his plans for the Division of Enforcement. […]
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New Type of Madoff Defendant Emerges: Account Custodian
A new type of defendant emerged in the Madoff fallout this week as customers of Fiserv Investment Support Services, a former unit of Fiserv Inc. (FISV), filed a class action lawsuit on Thursday against Fiserv trying to recoup their lost money. The case has reportedly been filed in federal court in Denver by Jacob Zamansky […]
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International Insider Trading Case Map: Q1 Update
For whatever reason, the International Insider Trading Case Map that we introduced on November 26, 2008 has become wildly popular, with over 20,000 page views to date! I am updating it quarterly now, so with Q1 in the books it is time to take a look at the latest and greatest insider trading cases going […]
Posted inRegulatory Enforcement
Options Backdating Case Pipeline Not Yet Dry
The SEC’s focus on options backdating cases has, by its own admission, diminished greatly. Indeed, the SEC’s San Francisco Regional Office, which had been leading that charge, stated in November 2008 that it had brought the final options backdating case that it expected to file. In the home office in D.C., however, it appears that […]
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Enforcement Action, Sweden Bureau
If you’ve been reading this blog or my Compliance Week column for a while you may know that I am fascinated by that tiny subset of insider trading cases where people actually sit down and try to plan ways that they can obtain inside information on which they can trade. Hence my long-time focus on […]
