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Securities Exchange Act › Rule 10(b) › Criminal Prosecution

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
Allen Matkins

Is The SEC's Shadow Trading Win Proof That There Is A Federal Common Law Of Crime After All?

Allen Matkins on

Last week, the U.S. Securities and Exchange Commission's Director of Enforcement  celebrated a jury verdict in its insider trading case against Matthew Panuwat...more

BakerHostetler

SEC and DOJ Bring Parallel Crypto Insider Trading Cases; SEC Alleges Nine Coinbase-Listed Tokens Are Securities

BakerHostetler on

Significant parallel actions commenced this week by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) bring crypto fraud enforcement into the spotlight, with the SEC alleging that multiple...more

Dorsey & Whitney LLP

Federal Fraud Statutes - Not A Short Cut to Proving Insider Trading

Dorsey & Whitney LLP on

The question of what constitutes insider trading has been litigated for decades.  Many thought that a series of Supreme Court cases such as Dirks v. SEC, 462 U.S. 646 (1983) and its progeny had largely resolved the question...more

Allen Matkins

Bharara Task Force Overlooks California Insider Trading Statute

Allen Matkins on

I have long advocated for a federal statutory definition of insider trading because I believe that the current approach has been for the courts to convict first and then explicate the theory supporting the conviction in a...more

Polsinelli

Prosecutors Not Required to Prove Tipper Received “Personal Benefit” to be Convicted Under Criminal Insider Trading Statute

Polsinelli on

On December 30, 2019 the Second Circuit issued its opinion in United States v. Blaszczak, finding that the government can criminally prosecute insider trading under 18 U.S.C. 1348 without proving personal benefit to the...more

Fenwick & West LLP

SEC and DOJ Charge Former Executives of Private Company for Misrepresenting the Company’s Technology - A Reminder that Private...

Fenwick & West LLP on

In a case reminiscent of last year’s blockbuster government actions against Theranos and its former executives, the U.S. Department of Justice and the U.S. Securities and Exchange Commission have separately charged two former...more

Dorsey & Whitney LLP

SEC-USAO Bring Insider Trading Case That is “Newman-Proof”

Dorsey & Whitney LLP on

When anyone discusses insider trading these days Newman invariably becomes a key topic. Prosecutors decry the decision and its tipping standard. Little doubt why. It has been offered as a defense in innumerable cases. A...more

Akin Gump Strauss Hauer & Feld LLP

SEC’s Authority to Interpret the Securities Laws Comes Under Fire in Criminal Enforcement

Akin Gump Strauss Hauer & Feld LLP on

A recent statement by Justice Antonin Scalia accompanying the Supreme Court’s denial of certiorari in a criminal insider trading case raises fundamental questions about how the courts interpret the federal securities laws and...more

Dorsey & Whitney LLP

SEC, DOJ Charge Brokers With Defrauding Clients

Dorsey & Whitney LLP on

The Commission brought charges against three subsidiaries of ConvergEx Group, LLC, and two employees of subsidiaries, based on a scheme to defraud brokerage customers by charging excessive fees. In the Matter of G-Trade...more

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