SEC

An SEC First: Diamondback Capital’s Settlement Does Not Contain ‘Neither Admits Nor Denies’ Language

Submitted by Steven Meyerowitz on Tue, 01/24/2012 - 6:39am

After Manhattan Federal District Court Judge Jed Rakoff rejected the SEC’s proposed $285 million CDO settlement with Citigroup and its typical (for the SEC) provision that Citigroup neither admitted nor denied the SEC’s allegations, the SEC decided to alter its practice –

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    • UBS Settles Yet More SEC Charges

    Submitted by Steven Meyerowitz on Thu, 01/19/2012 - 6:53am

    UBS has had its share of recent run-ins with the SEC and other federal regulators. Now, it has settled yet more charges – this time for $300,000. 

    SEC Inspector General H. David Kotz to Join Private Investigative Services Firm

    Submitted by Steven Meyerowitz on Tue, 01/17/2012 - 3:45pm

    SEC Inspector General H. David Kotz is leaving the government at the end of January to join the investigative services firm of Gryphon Strategies as a Managing Director in its Washington, D.C., office. He will focus on conducting corporate fraud investigations as well as assisting whistleblowers in exposing fraud and improving government accountability. 

    Khuzami Caves – A Little

    Submitted by Steven Meyerowitz on Fri, 01/06/2012 - 3:54pm

    There are reports that the Securities & Exchange Commission is going to modify its position of allowing parties to settle securities fraud actions without admitting or denying the SEC’s allegations.

    SEC Can Seek Documents From Deloitte’s China Affiliate As Part Of Financial Fraud Investigation

    Submitted by Steven Meyerowitz on Thu, 01/05/2012 - 10:08am

    A magistrate judge in Washington, D.C., has issued an order that permits the Securities and Exchange Commission to move forward on its request to require Deloitte Touche Tohmatsu CPA, Ltd., to turn over documents related to an SEC investigation into possible financial fraud by the Shanghai-based public accounting firm’s longtime client,

    Rakoff Rips SEC For ‘Materially Misleading’ Second Circuit - And Him

    Submitted by Steven Meyerowitz on Fri, 12/30/2011 - 10:51am

    Now, it’s getting very nasty.  

    Stage Is Set For SEC Versus Rakoff In Appeals Court

    Submitted by Steven Meyerowitz on Wed, 12/28/2011 - 7:36am

    The Securities and Exchange Commission has made good on its threat to appeal the decision by Federal District Court Judge Jed Rakoff rejecting the SEC’s proposed $285 million settlement with Citigroup.

    SEC Attacks ‘Serious Fraud’ At Hedge Funds With New Technology

    Submitted by Steven Meyerowitz on Tue, 12/27/2011 - 9:51am

    It’s not just that the SEC is investigating hedge funds for engaging in financial fraud. As Jean Eaglesham and Steve Eder write today in the Wall Street Journal, the SEC is using technology and computer programming, in its efforts to crack down.

    Is The SEC Going After Individuals Now More Than Before?

    Submitted by Steven Meyerowitz on Fri, 12/23/2011 - 8:52am

    December has been a bad month for a lot of individuals who have been sued by the Securities and Exchange Commission. The SEC’s action against former executives with Fannie Mae and Freddie Mac was especially noteworthy. But it seems to us that more people have been charged this month in a wider variety of cases than is typical. 

    SEC's Worst Nightmare?

    Submitted by Steven Meyerowitz on Thu, 12/22/2011 - 11:31am

    Tip of the hat to the Wall Street Journal Law Blog for this post: Is Rakoff Fever Spreading? If more judges are going to be questioning the SEC’s settlements, it may lead to significant changes in the way the SEC operates.

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