Bruce Carton

Over a decade ago, in August 2004, I watched the high-profile Martha Stewart insider trading matter play out as federal prosecutors decided not to charge Stewart with the crime of insider trading, the SEC did pursue a civil lawsuit against her, and the rest of the U.S. seemed to scratch its head and wonder what […]

As I have noted here before,  SEC enforcement actions are civil matters, meaning no matter how badly a defendant may lose the case he or she isn’t going to prison. However, there is a one easy way to parlay this situation into jail time, and that is by perjuring yourself in sworn testimony or, similarly, […]

In April, the criminal trial of former PetroTiger CEO Joseph Sigelman for alleged violations of the FCPA will begin in federal court in Camden, New Jersey. Prosecutors allege that Sigelman bribed a Colombian official at Ecopetrol SA, a state-run energy company, to win a contract for PetroToiger.   The WSJ reports that as part of the […]

It is Thursday, so that means it is “Throwback Thursday” on Twitter and other social media sites such as Instagram. Throwback Thursday (referred to on Twitter and elsewhere by the hashtag #TBT) is the day of the week when many Twitter users reminisce by posting an old photo. This morning, for example, the NBA tweeted […]

The U.S. is establishing a new division called the Cyber-Threat Intelligence Integration Center that will produce coordinated cyber-threat assessments, share that information with existing cyber-centers, and support policy makers with timely intelligence about the latest cyber-threats. More inside.

Yesterday, U.S. District Judge Jed Rakoff sentenced admitted insider trader Noah Freeman to no time in prison due to his “extraordinary” cooperation with prosecutors. Freeman pleaded guilty to conspiracy and securities fraud charges related to an insider trading ring in 2011. Judge Rakoff further ordered Freeman to forfeit $181,000. Freeman, a former SAC Capital Advisors […]

On April 15, 2014, the SEC’s Office of Compliance Inspections and Examinations announced that it would be conducting examinations of more than 50 registered broker-dealers and registered investment advisers focused on cybersecurity governance and risk. Until yesterday, there has been little or no information from the SEC concerning the results of those examinations. In a Risk Alert published yesterday, […]

The appellate court decision in U.S. v. Newman has turned Trent Martin from an extradited, admitted insider trader awaiting a sentence of up to several years in prison into a free man. He may not be the last.

The SEC has named Erin E. Schneider as the new Associate Regional Director for enforcement in its San Francisco office. As Associate Regional Director, Schneider will lead the team of attorneys, accountants and other professionals who investigate and litigate the San Francisco office’s enforcement efforts for Northern California and the Pacific Northwest.   Schneider joined the SEC’s […]

The Justice Department has asked for a new hearing in the case of U.S. vs. Newman, where an appellate decision had previously reversed insider-trading convictions of two men. Prosecutors say the Newman decision has caused difficulties in other recent insider-trading cases, as the definition of the “personal benefit” requirement conflicts with other rulings. Details inside.