6/28/2010
Insider trading remains as hot as the summer sun, with regulator's standing watch like an earnest lifeguard. Your best protection is to issue disclosures, note when you have and even encourage some companies to publicly release information whose origin is questionable. These are among the best pract ...
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5/31/2010
More than two years in prison stare Mark Kurland in the face. The former CEO of the RIA New Castle Funds ($971M in AUM) in White Plains, N.Y. was sentenced earlier this month for his role in the Galleon insider trading case after pleading guilty in January to securities fraud and conspiracy.Accordin ...
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5/31/2010
In a case that has dogged the SEC for years, the agency last week settled insider trading charges against RIA Pequot Capital Management ($443M in AUM) and its CEO Arthur Samberg, even as it filed civil charges against the alleged tipper, who denies any wrongdoing.The case has been the subject of man ...
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2/15/2010
Looks like the SEC will get to hear conversations among some Galleon casedefendants, if a federal judge's decision stands. Last week U.S. District Court Judge Jed Rakoff ruled that defendants Raj Rajarathnam and Danielle Chesi must share recordings they received in a related criminal case with SEC a ...
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2/15/2010
Cases like Galleon's fit "the model for the future" because they feature multi-agency cooperation and a focus on teams of co-conspirators rather than trying to spot a plot from the sale of a single security, said the SEC's Scott Friestad, an assistant director in the Enforcement Division.He and othe ...
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1/25/2010
Last June, as the mortgage-backed securities market tanked, an official at the RIA Evergreen Investment Management Company got wind that a fund packed with the securities would be devalued. He quickly sold his shares and his family's ahead of the news. For this insider trading, Charles Marquardt, a ...
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1/25/2010
Perhaps you remember the story after 9/11 about unknown investors who sold short U.S. airline stocks just before the terrorist attack. That story may have originated with a former FBI agent who claims he was unjustly convicted of insider trading.Earlier this month, we told you the story about Jeffre ...
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12/21/2009
The latest SEC enforcement action targeting insider trading reads like a mix of espionage and office politics, with its claim that the suspects "exchanged illegal tips through coded text messages and yellow sticky notes." The agency's making no secret that its spotlight shines on insider trading - s ...
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12/14/2009
Legal troubles emerged for a legal eagle last week, as the SEC charged a second Ropes & Gray attorney in its widening insider trading investigation in the Zvi Goffer case (IA Watch, Nov. 9, 2009).The agency claims Brien Santarlas took information known to the law firm about 2007 acquisitions involvi ...
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12/14/2009
Considering how hot insider trading is from a compliance perspective (IA Watch, Nov. 23, 2009), it's helpful to see what the SEC expects firms to produce around this topic during exams.IA Watch has obtained a new SEC document request letter stemming from a recent RIA exam out of the Commission's Den ...
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