All articles by Bruce Carton – Page 2
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Blog
Former SEC Whistleblower Chief McKessy lands at law firm
Sean McKessy, the former first-ever chief of the SEC’s Office of the Whistleblower, is joining law firm Phillips & Cohen as a partner in its Washington, D.C. office. Bruce Carton has more.
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SEC's $22 million award to whistleblower pushes program's total over $100 million
The SEC’s Office of the Whistleblower has been cranking out major awards all summer—the latest an award of more than $22 million—which means, says Bruce Carton, the whistleblower program has surpassed $100 million.
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Must-read: Fortune's 'Overturned--The Hedge Fund Trader Who Beat the Feds'
The September 1, 2016 issue of Fortune has a terrific article detailing the legal saga of former hedge fund manager Todd Newman, the defendant in a hugely important insider trading decision that has had a major impact on how prosecutors and the SEC pursue such cases.
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Blog10 years later, fugitive CEO pleads guilty to options backdating
Although the days of “options backdating” prosecutions are long past, the case against former Comverse Technology CEO Jacob Alexander, a fugitive in Namibia since 2006, ended just this week with his appearance before an unsympathetic federal judge. Bruce Carton has more.
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Use of Video Slowly Creeping into Legal Marketing in Enforcement Area
A series of enforcement-focused videos launched this summer by one law firm is an interesting twist on marketing that allows its lawyers to present information and themselves in a different way. Bruce Carton reports.
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Ceresney flashback: deposing ‘The Donald,’ part II
More details from the December 2007 deposition of Donald Trump conducted by then-private lawyers Andrew Ceresney and Mary Jo White—“an interrogation unlike anything else in the public record of Trump’s life” focused primarily on his honesty. Bruce Carton reports.
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Hybrid group of professional whistleblowers and insiders on cusp of huge awards
A new hybrid group of professional whistleblowers and corporate employees is about to get paid massive sums for their efforts to uncover securities law violations in the foreign exchange markets. Bruce Carton reports.
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Cardiologist facing criminal, SEC charges for trading based on clinical trials
Dr. Edward Kosinski, a cardiologist in his late ’60s living in Weston, Connecticut, has been named as a defendant in a criminal prosecution—as well as an SEC enforcement action—charging him with insider trading for allegedly trading based on the confidential results of a clinical trial he conducted. Bruce Carton reports.
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Prosecutors announce latest guilty plea in unprecedented hacking and trading scheme
Almost exactly one year ago, the SEC and Justice Department both filed cases against a large group of hackers and traders who carried out an “unprecedented” insider-trading and hacking scheme. Now prosecutors have announced the latest guilty plea in the case—the fifth so far. Bruce Carton reports.
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People, please stop making these two insider-trading mistakes!
Bruce Carton has been warning us for years about two insider-trading mistakes. Last month, a former partner at law firm Fox Rothschild was sentenced to six months in prison for allegedly making both of them. See inside.
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OMI Chief Vincente L. Martinez departing SEC next month
Vincente L. Martinez, Chief of the SEC’s Office of Market Intelligence since 2013, is leaving the agency next month. OMI plays a critical role in the SEC's Enforcement Division's collection, evaluation, and dissemination of the tips and referrals that come into the agency.
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Ceresney flashback: Deposing 'The Donald' in 2007
We have written here for years about Andrew Ceresney's work as the Director of the SEC's Division of Enforcement. Ceresney joined the SEC in 2013, but he had a long legal career before that--including an interesting case now making headlines from his days in the private sector that involves the ...
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Adding ‘father-son’ to the Familial Betrayal list
The upcoming insider-trading trial of a former Perella Weinberg Partners managing director may present “familial betrayal” of the father-son variety. Sean Stewart will go on trial on July 25, 2016, on charges that he tipped his father, Bob Stewart, in advance of five healthcare mergers. Bruce Carton reports.
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Approved amendments to SEC rules include depositions in APs
The SEC has approved several amendments to its rules of practice regarding administrative proceedings. Most notably, the new rules provide parties to APs—for the first time—with the opportunity to conduct a limited number of depositions. Bruce Carton has more.
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SEC whistleblower chief Sean McKessy to depart agency
The SEC announced today that after more than five years as the first-ever chief of the SEC’s Office of the Whistleblower, Sean McKessy plans to leave the agency. McKessy joined the SEC to head up its new whistleblower program in February 2011 and has helped get the program on strong ...
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‘Failure to cooperate’ multiplies SEC penalty from $2K to $980K
On June 21, 2016, the SEC announced that the failure of a defendant in an SEC enforcement action to live up to an agreement to “cooperate fully and truthfully” had resulted in that defendant's penalty being increased from $2,533 to a staggering $980,229. And it could have been worse! Bruce ...
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Former SEC Commissioner and Enf. Dir. Irving Pollack Passes Away at Age 98
Irving M. Pollack, a former SEC Commissioner who also served as the agency's first director of the Enforcement Division, passed away on July 1, 2016 at the age of 98. Pollack served at the SEC for 34 years.
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2016 SEC trial scorecard update: New Mexico verdict hands agency first loss
On Wednesday, the SEC suffered its first setback in its FY 2016 federal court trials following a trial in the U.S. District Court for the District of New Mexico.
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SEC's Dabney O'Riordan Named Co-Chief of Asset Mgmt Unit
Yesterday, C. Dabney O’Riordan of the SEC’s Los Angeles Regional Office was named co-chief of the Division of Enforcement’s Asset Management Unit. She fills the co-chief role left vacant when Marshall Sprung left the agency in April 2016 to join Blackstone Group LP as a managing director and the firm's ...
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'Hold' everything: SEC may be stuck at three commissioners for a while
Instead of trying to come up with new ways to repeatedly express public “disappointment” in the SEC, says enforcement blogger Bruce Carton, perhaps the U.S. Senate could simply do its own job and vote on the two nominees that President Obama nominated back in October 2015. Carton explores reasons behind ...