While lawmakers on Capital Hill continued to struggle with financial reform, prosecutors lost two key criminal option backdating cases, as the SEC worked through an inventory of old cases. In the Broadcom criminal option backdating cases, the court took the extraordinary step of dismissing the cases because of prosecutorial witness [...]
NERA released statistics on the SEC enforcement program this week showing that the number of cases settled by enforcement declined for the second straight year. Those results contrasted with the presentation made to the AICAP by the Enforcement Director. Those remarks detailed a series of statistics depicting significant increases over [...]
Market reform was a key topic on Capital Hill this week, as the House Financial Services Committee reported out and sent to the floor a major piece of market form legislation. During the week, House committees also heard additional testimony on the necessity for comprehensive regulation of the derivatives markets. [...]
From Capital Hill, the SEC heard expressions of concern this week about the fact that its proposed rules regarding high speed trading, dark pools and market structure will not take effect until next summer. The Commission also received evidence about its renewed insider trading investigation into Pequot Capital Management.
Securities [...]
