U.S. SEC, DOJ Charge Former Senior Siemens AG Executives Over Alleged Argentine Bribery Scheme

The DoJ and the SEC announced parallel charges under the Foreign Corrupt Practices Act against former senior Siemens AG executives over an alleged decades-long bribery scheme to retain a $1 billion contract to produce national identity cards for Argentine citizens…

SEC Proposes New Rules to Establish Business Conduct Standards for Swap Deals

The Securities and Exchange Commission June 29 unanimously agreed to propose new rules to establish business conduct standards for security-based swap dealers and major SBS participants that enter into swap transactions with counterparties…

Citing Morrison Ruling, Court Narrows Class Suit over Alleged Fraud by France’s Vivendi SA

In a long-awaited ruling, the U.S. District Court for the Southern District of New York Feb. 22 significantly narrowed class securities fraud charges against Vivendi Universal S.A. and two former executives who allegedly made material misstatements about the French media conglomerate’s finances, causing its stock to trade at artificially high levels between 2000 and 2002…

Hedge Funds with Swaps May Not Sue in U.S. over Porsche’s Handling of VW Shares, Court Rules

The hedge funds that held swap agreements tied to German corporation Volkswagen’s shares cannot pursue U.S. securities fraud claims that Porsche Automobil Holding SE, also a German corporation, and two of its executives manipulated the price of VW’s shares, the U.S. District Court for the…

SEC Maintains Dodd-Frank Act Reverses Morrison Ruling for Enforcement Purposes

The Securities and Exchange Commission believes that the financial reform legislation effectively overturned the U.S. Supreme Court’s landmark decision in Morrison and restored the so-called “conduct and effects” test for commission enforcement actions, a senior official said…

SEC, U.K. FSA Allege Former Deloitte Partner Was Key to Family-Run Insider Trading Ring

The Securities and Exchange Commission Nov. 30 announced that it and the U.K.’s Financial Services Authority disrupted what they believe to be a multi-million dollar insider trading network anchored by a…

Insider Trading ‘Rampant,’ Becoming Harder to Detect, Says U.S. Attorney for Southern District of New York

Insider Trading ‘Rampant,’ Becoming Harder to Detect, Says U.S. Attorney for Southern District of New York…

SEC Seeks Comments on Extension of Private Actions to Transnational Securities Fraud

The Securities and Exchange Commission Oct. 25 began the process, mandated by the recent financial reform law, of examining whether the…

Chinese Credit-Rating Agency First to Be Denied in Bid to Be Registered as Nationally Recognized Statistical Rating Agency

In a first-of-its kind action, the Securities and Exchange Commission recently denied the application of…

UBS Securities Case Raises Issues Regarding Scope of Recent Supreme Court Ruling in “Foreign-Cubed” Case

A motion by Swiss bank UBS AG to dismiss a class securities case—filed in the U.S. District Court for the Southern District of New York—is testing the boundaries of the U.S. Supreme Court’s recent ruling in…

Next Page »