Securities Law Prof Blog: Academic

Home -> Law Blog Directory -> Academic Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Academic

Securities Law Prof Blog

A Member of the Law Professor Blogs Network

Post Frequency: 38.1/day

Last Entry: March 31, 2011 at 16:18:26

Madoff Associate Pleads Guilty

Posted on August 11, 2009
Frank DiPascali Jr., longtime associate of Bernard Madoff, pleaded guilty today to 10 criminal charges, including securities fraud, investment adviser fraud, mail and wire fraud, and conspiracy. He admitted that he helped Madoff to defraud his customers from 1990s-2008...

FINRA Fines Credit Suisse for Violating Global Research Analyst Settlement

Posted on August 10, 2009
FINRA imposed a fine of $275,000 against Credit Suisse Securities (USA), LLC, for failing to comply fully with one of the key terms of the 2003 Global Research Analyst Settlement. That settlement, which was between regulators and 13 leading financial...

Judge Refuses to Approve SEC-BofA Settlement over Merrill Bonuses

Posted on August 10, 2009
A federal district court judge refused today to approve the settlement that the SEC and Bank of America had negotiated over the failure to disclose bonuses to Merrill Lynch executives in the proxy materials submitted to the bank's shareholders to...

Stout on Trust Behavior

Posted on August 09, 2009
Trust Behavior: The Essential Foundation of Securities Markets, by Lynn A. Stout, University of California, Los Angeles - School of Law, was recently posted on SSRN. Here is the abstract: Evidence is accumulating that in making investment decisions, many investors...

To access this complete feed in the blog feed reader login or register for free.

Free Enterprise Fund v. PCAOB Law Professors Amici Brief

Posted on August 09, 2009
Supreme Court Amici Brief of Law Professors in Support of Petitioners in Free Enterprise Fund V. Public Company Accounting Oversight Board, No. 08-861, by Donna M. Nagy, Indiana University School of Law-Bloomington, was recently posted on SSRN. Here is the...

FINRA Fines Ameritas for Sales of Unsuitable VUL Policies

Posted on August 06, 2009
FINRA fined Ameritas Investment Corp. $100,000 and suspended and fined one of its brokers for inducing customers to take on additional mortgage and/or home equity debt in order to purchase variable universal life insurance policies (VULs). Those policies were pitched...

SEC Enforcement Statistics in 2009

Posted on August 06, 2009
Remarks to the New York City Bar Association, by Robert Khuzami, Director, Division of Enforcement, SEC, August 5, 2009: Comparing the period from late January [2009] to the present to roughly the same period in 2008, the Division has opened...

AIG's Former Executives Settle Accounting Fraud Charges with SEC

Posted on August 06, 2009
The SEC settled charges that former American International Group Chairman and CEO Maurice "Hank" Greenberg and former Vice Chairman and CFO Howard Smith were involved in numerous improper accounting transactions that inflated AIG's reported financial results between 2000 and 2005...

Attorney Settles Charges in Pump and Dump Scheme

Posted on August 06, 2009
On July 31, 2009, the United States District Court for the Northern District of Georgia entered final judgments by consent against Albert J. Rasch, Jr., Kathleen R. Novinger, Sandra B. Masino and 144 Opinions, Inc. (144 Opinions) in a civil...

Federal Judge Calls for Hearing on SEC-BofA Settlement

Posted on August 06, 2009
Earlier this week the SEC announced a settlement with Bank of America over allegations that the bank misled its shareholders by not disclosing promised Merrill Lynch bonuses when it solicited their proxies for the merger, but a federal judge in...

Specter Introduces Bill to Create Private Aiding and Abetting Remedy for Rule 10b-5 Fraud

Posted on August 05, 2009
Senator Specter introduced a Bill that would amend section 20 of the Securities Exchange Act to allow private Rule 10b-5 actions against persons that knowingly or recklessly provide substantial assistance to primary violators, thus overturning Central Bank and Stoneridge...

Former Royal Ahold Executive Settles SEC Accounting Charges

Posted on August 05, 2009
The SEC settled charges against Johannes Gerhardus Andreae, a former Executive Vice President and former member of the executive board of Royal Ahold (Koninklijke Ahold N.V.). The SEC alleged that Andreae and others at Royal Ahold participated in a scheme...

SEC Settles Two Cases Alleging Naked Short Selling

Posted on August 05, 2009
The SEC announced that it has taken its first enforcement actions for violations of the Commission's rules to prevent abusive "naked" short selling, charging two options traders and their broker-dealers with violating the locate and close-out requirements of Regulation SHO...

SEC is Looking at Flash Trading

Posted on August 04, 2009
Senator Charles Schumer said that SEC Chairman Schapiro had promised him that the agency would ban flash trading, and Ms. Schapiro made a statement that the SEC may curb the practice to eliminate inequities. She also said that the agency...

SEC and GE Settle Accounting Fraud Charges

Posted on August 04, 2009
The SEC announced that it settled charges against General Electric Company (GE) alleging that GE misled investors by reporting materially false and misleading results in its financial statements. The SEC alleges that GE used improper accounting methods to increase its...

SEC Publishes Proposed "Pay to Play" Rules for Investment Advisers

Posted on August 03, 2009
The SEC published on its website for public comment proposed new rules that address ?pay to play? practices by investment advisers. The new rules would prohibit an investment adviser from providing advisory services for compensation to a government client for...

SEC and BofA Settle Charges Involving Merrill Bonuses

Posted on August 03, 2009
The SEC and Bank of America settled charges that Bank of America misled investors about billions of dollars in bonuses that were being paid to Merrill Lynch & Co. executives at the time of its $50 billion acquisition of the...

Former Take-Two GC and CFO Settle Backdating Charges

Posted on August 03, 2009
The SEC announced that Kenneth Selterman and Patti Tay, the former General Counsel and former Controller/ Chief Accounting Officer, respectively, of video game maker Take-Two Interactive Software, Inc. (Take-Two), settled charges of stock option backdating...

Heminway on Officer's Candor

Posted on August 02, 2009
Martha?s (and Steve?s) Good Faith: An Officer?s Duty of Loyalty at the Intersection of Good Faith and Candor, by Joan MacLeod Heminway, University of Tennessee College of Law, was recently posted on SSRN. Here is the abstract: This short paper...

Brummer on International Securities Regulation

Posted on August 02, 2009
Post-American Securities Regulation, by Chris Brummer, Georgetown University Law Center, was recently posted on SSRN. Here is the abstract: International securities regulation has arrived at the forefront of the country's debate on financial market reform...

NASAA Proposes Model Rule on Investment Adviser Solicitors

Posted on July 31, 2009
NASAA?s Investment Adviser Regulatory Policy and Review Project Group is soliciting comments from the public on a proposed model rule regarding solicitors for investment advisers. The Proposed Rule keeps intact the increased investor protection standards presently required by the states,...

SEC Charges Integral Systems Failed to Disclose Criminal Background of Officer

Posted on July 31, 2009
The SEC filed two actions (judicial and administrative) charging that Integral Systems, Inc. (Integral Systems or the Company), a corporation based in Columbia, Maryland that manufactures satellite ground systems, fraudulently concealed for over seven years the identity and involvement of...

Helmerich & Payne Settles FCPA Charges with SEC

Posted on July 31, 2009
On July 30, the SEC settled administrative charges with Helmerich & Payne, Inc. (H&P), finding that from 2003 through 2008 H&P's books, records, and accounts did not properly reflect the improper payments made by H&P through two of its wholly-owned...

New York AG Releases Report on Bank Bonuses

Posted on July 31, 2009
New York Attorney General Cuomo released a report on bank bonuses, NO RHYME OR REASON: The Heads I Win, Tails You Lose I Bank Bonus Culture.

SEC's Investor Advisory Committee Raises Issues

Posted on July 29, 2009
The SEC's Investor Advisory Committee , after its first meeting, raised the following questions: Fiduciary duty: Should all financial intermediaries who provide investment advice to their customers be subject to the same fiduciary duties, and how should those duties be...

SEC's Inspector General Says Stanford Hindered Investigation

Posted on July 28, 2009
The Wall St. Journal reports that the SEC's Inspector General (which has issued recent reports sharply critical of the agency) found that the SEC had been actively investigating Allen Stanford since 2005, but its investigation was hindered by Stanford's and...

Avery Dennison Settles FCPA Charges with SEC

Posted on July 28, 2009
The Securities and Exchange Commission today filed two settled enforcement proceedings against Avery Dennison Corporation (Avery), a Pasadena, California-based multinational corporation, alleging violations of the Foreign Corrupt Practices Act (FCPA) in connection with improper payments and promises of improper payments...

SEC Removes Requirement of NYSE Surveillance Program to Track Floor Trading

Posted on July 28, 2009
On July 28, 2009, the SEC issued an Order that removes the requirement for NYSE operate an on-floor video and audio surveillance program to track floor trading activity at NYSE trading posts, operated as a pilot, pursuant to the April...

FINRA Fines Merrill & UBS for Unsuitable CEF Sales

Posted on July 28, 2009
FINRA announced today that it fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $150,000 and UBS Financial Services, Inc. $100,000 for supervisory failures that led to unsuitable short-term sales of closed-end funds (CEF) purchased at the funds' initial public offerings...

SEC Finalizes Short Sales Rule and Announces Other Initiatives

Posted on July 27, 2009
The SEC published amendments to Regulation SHO to make permanent amendments contained in Interim Final Temporary Rule 204T (?temporary Rule 204T?) of Regulation SHO, with some modifications to address commenters? concerns. These amendments are intended to help further the goals...

Previous | Next

Related Law Bulletins

New Baptist Covenant Blog
Last week, I pointed to the New Baptist Convenant website, now onl...

The Mexico Trucker Blog
I've written before about the perceived problems with relaxed rest...