Searching Content by Richard Rosenfeld ordered by Published Date Descending.
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New York Subjects State Licensees To Whistleblower Protections
Add the New York Department of Financial Services (the "DFS" or "Department") to the veritable orchestra of governmental entities and regulatory authorities that have issued requirements
United States
20 Feb 2019
Commodity Futures Trading Commission Issues Advisory For Virtual Currency Pump-And-Dump Schemes
The purpose of this paper is to explain innocent actors in the virtual currency space (e.g. virtual currency exchanges, financial institutions, social media platforms) and how to avoid potential exposure...
United States
24 Aug 2018
Salman v. United States: Supreme Court Considers Heightened Personal Benefit Standard For Tipper/Tippee Insider Trading Liability
On October 5, 2016, the United States Supreme Court began hearing argument in Salman v. United States, one of the most closely watched insider trading cases to reach the high court...
United States
6 Oct 2016
No Holiday From Whistleblowers: A Scary Future Predicted For The Financial Industry
On July 30, 2016, the United States celebrated its National Whistleblower Appreciation Day.
United States
23 Sep 2016
Who Knew? The SEC as the Hidden Regulator of Ginnie Mae Issuers
The United States Securities and Exchange Commission ("SEC") continues to bring enforcement actions focused on government-guaranteed residential mortgage backed securities, notably including those guaranteed by the Government National Mortgage Association ("Ginnie Mae" or "GNMA").
United States
27 Jun 2016
US Department of Justice and US Securities and Exchange Commission Bring Insider Trading Chargers Against Hackers Who Traded Using Stolen Press Releases
Federal grand juries in New Jersey and New York have indicted a total of nine individuals for allegedly violating the anti-fraud provision of the Securities Exchange Act ..
United States
28 Aug 2015
US Second Circuit Heightens the Standard of Proof Required To Sustain Tipper/Tippee Insider Trading Convictions
On December 10, 2014, in United States v. Newman, et al., the US Court of Appeals for the Second Circuit clarified the elements required to establish insider trading ..
United States
16 Dec 2014
US Department of Justice Brings Its First Criminal Prosecution for Spoofing of Commodities Markets
A Chicago federal grand jury has indicted Michael Coscia, formerly a registered floor trader and sole owner of Panther Energy Trading LLC, for allegedly violating the anti-spoofing provision of the Commodity Exchange Act ..
United States
15 Oct 2014
Presumption Against Extraterritoriality in Morrison v. National Australia Bank Extended to Private Party Whistleblower Retaliation Cases
The US Court of Appeals for the Second Circuit has ruled that the presumption against extraterritoriality applies to private party actions under Section 21(h) of the Securities Exchange Act of 1934 ("Exchange Act").
United States
26 Aug 2014
US Securities and Exchange Commission Settles Its First Whistleblower
The US Securities and Exchange Commission (SEC or the Commission) has announced a $2.2 million settlement in the Commission's first whistleblower anti-retaliation case.
United States
30 Jun 2014
Cosmetics Company Agrees to Pay US$135M to Settle FCPA Claims
On May 1, 2014, it was announced that Avon Products, Inc., reached a settlement with US regulators over a long-standing federal probe into whether the cosmetics company paid bribes in China and other countries to gain favors.
United States
9 May 2014
The SEC Requires Hedge Fund Harbinger Capital and its Manager Falcone to Admit Wrongdoing in Landmark Settlement
The US Securities and Exchange Commission (SEC) recently announced that Philip A. Falcone, a New York-based hedge fund advisor, and the hedge fund he managed, Harbinger Capital Partners LLC (Harbinger Capital), have agreed to settle allegations of misappropriation of client assets, market manipulation and client betrayal.
United States
22 Aug 2013
Into The Breach - Managing Cyber Security Threats In The Digital Age
To ensure the ability to conduct assessments of such vendors and suppliers, a company should use a contract that requires the cooperation of the third party in ongoing security assessments, audits, and incident management, including security breaches.
United States
1 Aug 2013
A Brave New SEC? The SEC Rejects Proposed Settlement with Hedge Fund Harbinger Capital and Its Manager Falcone
In a regulatory filing made on July 19, 2013, Harbinger Group, Inc. (Harbinger Group), a publicly traded investment company, announced that the US Securities and Exchange Commission (SEC) had rejected an agreement in principle that Harbinger Group had reached with the staff of the SEC’s Enforcement Division.
United States
20 Jul 2013
US Court of Appeals for the Second Circuit Holds Rapid Post-Fraud Stock Rebound Does Not Bar Securities Fraud Suit
The failure to allege economic loss and loss causation—essential elements of a securities fraud claim—should be fatal to a Rule 10b-5 complaint.
United States
6 Aug 2012
US Court Of Appeals for the Second Circuit Clarifies Standard for "Domestic Transactions" Prong of Morrison
In Morrison v. National Australia Bank Ltd., the US Supreme Court sharply restricted the extraterritorial applicability of the antifraud provisions of the securities laws.
United States
25 Apr 2012
Southern District Court Rejects Plaintiffs’ Bid to Conceal Identities of Confidential Witnesses
In the last few years, plaintiffs in securities actions have increasingly relied on allegations attributed to "confidential witnesses."
United States
14 Mar 2012
Second Circuit Rejects Application of RICO to Foreign Criminal Enterprises
The US Supreme Court’s 2010 decision in Morrison v. NAB created a sea change in private securities litigation by sharply limiting the extraterritorial application of the securities laws while employing language suggesting skepticism of extraterritoriality more generally.
United States
9 Feb 2012
California District Court Dismisses Securities Claims Against Chinese Corporation for Failure to Plead Falsity
On November 30, 2011, Judge John A. Kronstadt of the US District Court for the Central District of California dismissed a putative class action brought by shareholders of China Century Dragon Media based on the inconsistencies between revenue and profit figures reported to the US Securities and Exchange Commission (SEC) and the Chinese State Administration for Industry and Commerce (SAIC).
United States
5 Jan 2012
Appellate Division, First Department Rules J.P. Morgan Cannot Require its Insurers to Pay $250 Million SEC Settlement
Settlements with the US Securities and Exchange Commission (SEC) often take the form of a complaint filed contemporaneously with a settlement agreement and administrative order.
United States
3 Jan 2012
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