In a detailed, 122-page opinion (pdf), U.S. District Court Judge John G. Koeltl systematically dismantled and dismissed the SEC’s first-ever credit default swap insider trading case. In SEC v. Jon-Paul Rorech and Renato Negrin (pdf), the SEC alleged that Deutsche Bank bond salesman, Jon-Paul Rorech, passed material, non-public information to a Millennium Partners hedge fund manager,… Continue Reading
Suppose the Office of Congressional Ethics requests documents from your company. The Office cannot force you to comply. But, should you do so anyway? One issue to consider is whether your documents will remain confidential. See the June 8 edition of A Question of Ethics for answers. Click here to continue reading.… Continue Reading
There has been a lot of buzz lately about the use of federal job offers to lure candidates out of primary elections. Are these offers legal? The latest A Question of Ethics tackles that question. Click here to continue reading.… Continue Reading
Down, but not out. The Supreme Court significantly pared the scope and effectiveness of the federal “honest services” law that has been used against high-profile public officials and infamous executives, perhaps most notably, Enron’s former Chief Executive Officer Jeffrey Skilling. See Skilling v. United States, No. 08-1394 (U.S., June 24, 2010). The Court, however, did… Continue Reading
Earlier this month, acting on a tip from anticorruption watchdog group Global Witness, London police arrested the head of a British firm involved in the growing international market for carbon offset credits. The arrest stemmed from an investigation into potentially improper payments to foreign government officials designed to secure a lucrative carbon concession. The company,… Continue Reading
On May 19, 2010, Attorney General Eric Holder issued an important memorandum to all federal prosecutors regarding DOJ’s policy on charging and sentencing decisions. The “Holder Memo” (pdf) expressly supersedes the “Ashcroft Memo” (pdf) issued by former Attorney General John Ashcroft on September 22, 2003, as well as two subsequent memoranda issued by former Deputy Attorney… Continue Reading
In May 2008, FINRA issued Regulatory Notice 08-24 seeking comments on its proposed supervision rules. FINRA received at least 47 comment letters in response. At FINRA’s Annual Conference, on May 28, 2010, FINRA staff stated that they anticipate filing a rule proposal with the SEC in as soon as two weeks. The rule proposal is part of… Continue Reading
In a May 7, 2010 speech at SIMFA Compliance & Legal Division’s Annual Seminar, Rick Ketchum, the Chairman and CEO of FINRA, said we can expect FINRA to “move forward with a [fixed income research] proposal this year.” While there have been sweeping changes to the rules governing equity research in recent years, the changes… Continue Reading
Most large companies, especially those in industries at which immigration enforcement has been targeted, do not operate in one state alone. Unfortunately, for employers, there is no one-size fits all guidebook to immigration compliance. Knowing and understanding the complicated federal regulations is no longer sufficient. At least 32 states have now enacted their own immigration-related… Continue Reading
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