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

FINRA Fines 25 Firms for Breakpoint Failures

Posted on March 23, 2009
FINRA announced that it fined 25 broker-dealers a total of $2,145,000 for failures related to their completion of FINRA's (then NASD's) firm self-assessment of mutual fund breakpoint discount compliance. All firms settled the charges without admitting liability...

SEC Charges Escala Group and former officers with fraud

Posted on March 23, 2009
The SEC filed a disclosure and accounting fraud case against then-NASDAQ National Market issuer Escala Group, Inc.; its founder and former CEO Gregory Manning, and its former CFO Larry Lee Crawford, alleging fraudulent related party transactions between Escala and its...

SEC's Investment Management Director Addresses ICI Conference

Posted on March 23, 2009
Andrew J. Donohue, Director, Division of Investment Management, SEC, gave the Keynote Address, Investment Company Institute, 2009 Mutual Funds and Investment Management Conference, on March 23, 2009.

Ketchum's Remarks on Risk Management

Posted on March 23, 2009
An excerpt from remarks by Richard G. Ketchum, Chairman & Chief Executive Officer, Remarks From the SIFMA Compliance & Legal Division's Annual Seminar: Let's talk about risk management. Several months ago on CNBC, John Gutfreund was asked about the leverage...

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

Former Mercury Interactive CFO Settles Backdating Charges with SEC

Posted on March 23, 2009
The SEC today settled civil fraud charges against Sharlene Abrams, a former Chief Financial Officer of Mercury Interactive, LLC, arising from an alleged scheme to backdate stock option grants and from other alleged misconduct. The SEC previously charged Abrams and...

SEC Censures Cornerstone Capital Management

Posted on March 23, 2009
The SEC issued anOrder Making Findings and Imposing Remedial Sanctions Pursuant to Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940 (Order) against Cornerstone Capital Management, Inc. (Cornerstone Capital), a registered investment adviser, and its sole principal,...

SEC Obtains Asset Freeze Against Alleged Investment Fraud

Posted on March 23, 2009
The SEC today obtained an emergency court order to halt an ongoing scheme by a Palmdale, California company and two individuals who have defrauded investors through a series of false claims including that Warren Buffett is associated with the company...

NY AG Says It Has List of AIG Bonus Recipients

Posted on March 19, 2009
ATTORNEY GENERAL CUOMO ANNOUNCES SIGNIFICANT DEVELOPMENT RELATED TO AIG: "I have received the list of AIG FP employees who received retention payouts. Mr. Liddy testified in Congress yesterday that he intended to comply with our subpoena and expressed concern for...

SEC Sues Silicon Valley Hedge Fund Manager for Fraud

Posted on March 19, 2009
The SEC sued Albert K. Hu, a hedge fund manager with ties to Silicon Valley, for falsely claiming that his funds were overseen by experienced attorneys, auditors and other professionals, and for misappropriating investor funds. As part of its suit,...

University of Dayton Law Presents Program on Bailout

Posted on March 19, 2009
The University of Dayton Law School is presenting The Fallout from the Bailout: The Impact of the 2008 Bailout on Lending Regulation, Securities Regulation, and Business Ethics, a day-long program tomorrow. Former SEC Chairman Harvey Pitt is a featured speaker,...

FINRA Hearing Panel Sanctions Mutual Services Corp. on VA Reviews

Posted on March 19, 2009
A FINRA hearing panel fined Mutual Service Corporation (MSC) of West Palm Beach, FL, more than $1.5 million for failing to conduct timely reviews of variable annuity transactions, falsifying various books and records of the firm to make it appear...

SEC and NY AG Charge NY Former Deputy Comptroller and Political Adviser with Pension Plan Fraud

Posted on March 19, 2009
The SEC charged New York's former Deputy Comptroller, David Loglisci, and a top political advisor, Henry Morris, with extracting kickbacks from investment management firms seeking to manage the assets of New York's largest pension fund. In addition, the New York...

Citi Files Registration Statement for Conversion of Preferred into Common, Plans Reverse Stock Split

Posted on March 19, 2009
Citigroup announced that it has filed a registration statement with the SEC in connection with its proposed offer to issue its common stock in exchange for publicly held convertible and non-convertible preferred and trust preferred securities. In addition, the company...

GAO Testimony on AIG

Posted on March 18, 2009
Testimony Before the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, House Committee on Financial Services, FEDERAL FINANCIAL ASSISTANCE Preliminary Observations on Assistance Provided to AIG, Statement of Orice M. Williams, Director, Financial Markets and Community Investment, March 18,...

New York AG on Court's Decision on Merrill Lynch Bonuses

Posted on March 18, 2009
STATEMENT FROM ATTORNEY GENERAL CUOMO ON COURT DECISION TO FORCE BANK OF AMERICA AND MERRILL LYNCH TO TURN OVER LIST OF BONUS RECIPIENTS "Today?s decision in the Bank of America case is a victory for taxpayers. Let the sun shine...

Texas Men Settle Penny Stock Fraud Charges

Posted on March 18, 2009
Two Texas men, Darrel T. Uselton and Jack E. Uselton, who perpetrated a massive e-mail spam campaign to drive up the demand for low value stocks they owned, will pay nearly $4 million in penalties and fines and will no...

SEC Charges Madoff's Auditor with Fraud

Posted on March 18, 2009
The SEC charged the auditors of Bernard Madoff's broker-dealer firm with committing securities fraud by falsely representing that they had conducted legitimate audits, when in fact they had not. In its complaint filed today in federal court in Manhattan, the...

FINRA Announces Pilot Program for Margining of CDSs

Posted on March 18, 2009
FINRA anounced that is has proposed a pilot program for the margining of credit default swaps (CDS) by FINRA-registered firms that clear CDS transactions on the Chicago Mercantile Exchange, other central counterparty platforms or outside of such platforms...

AIG's Liddy Testifies on Bonuses

Posted on March 18, 2009
AIG CEO Edward Libby is still testifying before the House Financial Services Committee and explaining why AIG had to pay those bonuses. Perhaps the only noteworthy new information is that Liddy asked recipients of bonuses in excess of $100,000 to...

Cuomo on AIG Bonuses

Posted on March 17, 2009
The latest from New York AG Cuomo on AIG's bonuses: AIG now claims that it had no choice but to pay these sums because of the unalterable terms of the plan. However, had the federal government not bailed out AIG...

Prosecutors Allege Lawyer Sold $700 Million in Phony Notes

Posted on March 17, 2009
You'll recall that New York attorney Marc Dreier was indicted in January on charges that he sold fictitious promissory notes to investors. Federal prosecutors recently amended the indictment to up the amount of the alleged fraud. They now allege that...

Florida Broker Settles SEC Microcap Manipulation Charges

Posted on March 17, 2009
The SEC filed a settled complaint against Paul M. Gozzo and PMG Capital, LLC of Jupiter, Florida, alleging that they violated the federal securities laws by manipulating the markets of numerous microcap stocks in 2006 and 2007. The Commission alleges...

Citigroup Settles FINRA Charges of Publishing Non-Bona Fide Quotations

Posted on March 17, 2009
FINRA announced today that it has imposed a $2 million fine against Citigroup Global Markets for the erroneous publication of non-bona fide quotations and transactions at and around the NASDAQ market opening on a Quadruple Witch Expiration Friday; systemic Order...

FINRA Announces Explained Award Rule

Posted on March 16, 2009
Effective April 13, 2009, FINRA will require arbitrators to provide an explained decision at the parties' joint request. An explained decision is a fact-based award stating the general reasons for the arbitrators' decision. Parties will be required to submit any...

Geithner's Statement at G-20 Meeting

Posted on March 16, 2009
Here is the Prepared Statement by Treasury Secretary Tim Geithner at the G-20 Finance Ministers and Central Bank Governors Meeting March 14, 2009.

SEC Will Consider Short Sale Price Rules

Posted on March 16, 2009
The SEC announced that it will hold an open meeting on April 8 to consider whether to propose short sale price test rules.

President Obama Speaks Out Against AIG Bonuses

Posted on March 16, 2009
President Obama has called upon Treasury Secretary Geithner to take all steps to prevent AIG from paying those bonsues to employees at the company's Financial Products unit. The New York Times has posted Obama?s Statement on A.I.G.

New York AG Sends Letter to AIG on Bonuses

Posted on March 16, 2009
Here is a letter from Attorney General Cuomo sent today to Edward M. Liddy, Chairman & CEO of AIG, concerning bonuses: The Office of the New York Attorney General has been investigating compensation arrangements at AIG since last Fall. We...

SEC Approves Temporary Exemptions for CME to Operate as Central Counterparty for CDSs

Posted on March 16, 2009
The SEC approved conditional exemptions that will allow the Chicago Mercantile Exchange Inc. (CME) to operate as a central counterparty for clearing credit default swaps. These conditional exemptions, based on a request by the CME and Citadel Investment Group LLC,...

Cheffins & Bank on Berle & Means

Posted on March 15, 2009
Is Berle and Means Really a Myth?, Brian R. Cheffins, University of Cambridge - Faculty of Law; European Corporate Governance Institute (ECGI), and Steven A. Bank, University of California, Los Angeles - School of Law, was recently posted on SSRN....

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...