Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

2016 SEC trial scorecard update: agency now 4-1-1 after City of Miami trial

Bruce Carton | September 16, 2016

On Wednesday, the SEC announced that it had prevailed in a jury trial against the City of Miami (which it labeled "a recidivist violator of the federal securities laws") and Michael Boudreaux, the city's former Budget Director. Following a two and one-half week trial, the jury took less than four hours to determine that "the City and Boudreaux had committed securities fraud in connection with their disclosures concerning the deteriorating financial condition of the City during 2007 and 2008 and in three separate offerings of municipal securities in 2009." The Miami Herald reports that the jury also found against the SEC and in favor of Boudreaux on one of the counts that alleged fraud under the Securities Act....

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.