Securities Law Prof Blog

Recent Posts from Securities Law Prof Blog

• FINRA Fines Terra Nova Financial for Improper Soft Dollar Payments

  FINRA fined Terra Nova Financial, LLC, of Chicago, $400,000 for making more than $1 million in improper soft dollar payments to or on behalf of five hedge fund managers, without following its own policies to…

• Fifth Circuit Holds Stanford Receiver Could Not "Clawback" Interest Payments from Innocent Investors

  The Fifth Circuit, in Janvey v. Adams (No. 09-10761 Nov. 13, 2009)(Download Opinion_of_Appeals_Court_from_Hearing_Regarding_Claw_Backs), recently held that the receiver for the Stanford interests, appointed to conserve, hold, manage and preserve the value of the receivership estate,…

• SEC's Inspector General Makes Recommendations on Inspection of Investment Advisers

  The SEC's Office of Inspector General released its final report on its investigation into why the SEC did not discover Madoff's Ponzi scheme, even after his investment advisory business registered with the SEC. The Review…

• Bhagat & Romano on Executive Compensation

  Reforming Executive Compensation: Simplicity, Transparency and Committing to the Long-Term, by Sanjai Bhagat, University of Colorado at Boulder - Department of Finance, and Roberta Romano, Yale Law School; National Bureau of Economic Research (NBER); European…

• Higginbotham on Developing Policy for Disclosure

  'See No Evil, Hear No Evil, Speak No Evil' - Developing a Policy for Disclosure by Counsel to Public Corporations, by F. Michael Higginbotham, University of Baltimore School of Law, was recently posted on SSRN.…

• SEC Charges Former Shuffle Master Executive with Insider Trading

  On November 19, 2009, the Securities and Exchange Commission filed a civil injunctive action in the United States District Court for the District of Nevada against R. Brooke Dunn, a former executive at Shuffle Master,…

• Henry Hu's Testimony on Derivatives Legislation

  Testimony Concerning the Over-the-Counter Derivatives Markets Act of 2009 by Henry T. C. Hu, Director of the Division of Risk, Strategy, and Financial Innovation, U.S. Securities and Exchange Commission, Before the House Committee on Financial…

• SEC Finds Broker-Dealer Orchestrated Lating Trading Fraud

  The SEC, in an administrative proceeding, found that Joseph John VanCook, a former salesperson and partial owner of Pritchard Capital Partners, LLC, a registered broker-dealer, willfully violated Section 10(b) of the Securities Exchange Act of…

• House Financial Services Committee Passes Amendment to Dismantle Firms "Too Large to Fail"

  On Nov. 18 the House Financial Services Committee passed an amendment offered by Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, to the…

• SEC Sues Investor Relations Firm and Others for Illegal Sales of Securities

  The SEC filed a civil action in the U.S. District Court for the Middle District of Florida, alleging that investor relations firm Big Apple Consulting USA, Inc. ("Big Apple"), its wholly-owned subsidiary MJMM Investments, LLC…