The Justice Insiders Podcast: Jarkesy’s Implications for the Administrative State
Turning up the Heat – A Look at the FTC’s Groundbreaking Fine Against Bankrupt Digital Asset Services Provider Celsius Network LLC - The Crypto Exchange Podcast
Blue Sky Laws: Defending State-Level Securities Violations
The Justice Insiders: The Administrative State is Not Your Friend - A Conversation with Professor Richard Epstein
Four Decision Points in SEC Securities Investigations
Business and Legal Issues Around Blockchain and Cryptocurrencies
The "Compass Rose" Method for Corporate Witness Interviews
Podcast: Credit Funds: Compliance Considerations for Valuation
Life Sciences Quarterly (Q3 2019): SEC Enforcement and Class Actions Regarding FDA Communications
Insider Trading News - Ralph Siciliano discusses US v. Newman
SEC Whistleblower Program: What Employers Need to Know
Throughout the history of the U.S. stock market, individuals have used insider access to information to gain an unfair advantage over other investors. The use of material non-public information (“MNPI”) in financial trading...more
It is generally understood that it is unlawful to trade on nonpublic, market-moving information, or tips from someone with inside information—but what if the tip was not unlawful in the first place? When someone receives a...more
On December 5, 2022, a large telecommunications company (the Company) and the US Securities and Exchange Commission (SEC) agreed to settle long-standing charges that executives allegedly had selectively disclosed material...more
On December 27, 2022—nearly 18 months after hearing oral arguments—the Second Circuit issued its new opinion in United States v. Blaszczak, an important insider trading case involving the misappropriation of confidential...more
On Tuesday, the Insider Trading Prohibition Act passed the house by a pretty big bipartisan majority—350 to 75. Currently, there is no explicit statutory prohibition on insider trading and prosecutors have relied on general...more
The Second Circuit yesterday affirmed the insider trading conviction of the principal of a potential acquiror who, in breach of a nondisclosure agreement with a potential target company, had provided a tippee with nonpublic...more
On January 11, 2021, the U.S. Supreme Court vacated the 2019 decision of the U.S. Court of Appeals for the Second Circuit in United States v. Blaszczak, which substantially broadened the scope of criminal insider trading...more
Last year, we reviewed the Second Circuit decision in United States v. Blaszczak, which made it easier to prosecute trading on inside information. A divided panel of the Second Circuit Court of Appeals declined to extend the...more
Several members of Congress have been implicated in potential insider trading scandals stemming from stock transactions that occurred at the beginning of COVID-19 crisis before the major stock market decline. As reported by...more
This winter has seen insider-trading trending – and not just because President Trump pardoned Michael Milken. In sequence, several legislative proposals have been working their way through Congress, the Second Circuit...more
In a ruling with far-reaching implications, the U.S. Court of Appeals for the Second Circuit recently held that pre-announcement information at the Centers for Medicare & Medicaid Services (CMS) about reimbursement rates...more
The Second Circuit recently took an unexpected plunge into the torrid waters of insider trading law. Following several years of decisions limiting the government’s broad interpretation of what constitutes a personal benefit...more
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
The U.S. Court of Appeals for the Second Circuit issued an opinion in United States v. Blaszczak on December 30, 2019 that could significantly affect the prosecution of criminal insider trading cases. The Second Circuit...more
Because of the December 30, 2019 decision of the Second Circuit Court of Appeals in United States v. Blaszczak, prosecutors appear to have an easier task sustaining insider trading cases under alternatives to Title 15...more
A recent ruling from the Second Circuit could make it easier for federal prosecutors to pursue insider trading charges. In U.S. v. Blaszczak, the panel made two major rulings that could have a significant impact on future...more
For the first time since the Supreme Court’s 1983 decision in Dirks v. SEC, the United States Court of Appeals for the Second Circuit affirmed an insider trading conviction without proof of a personal benefit to the insider...more
On December 30, 2019, the Second Circuit issued its landmark decision in United States v. Blaszczak, which widened the berth for federal prosecution of insider trading activities under Title 18 of the United States Code. The...more
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
On December 30, 2019, the Second Circuit issued a consequential insider trading decision in United States v. Blaszczak. In Blaszczak, the Second Circuit faced the question whether the “personal benefit” test set forth in...more
The Second Circuit held earlier this week that the criminal statute proscribing securities fraud permits convictions for insider trading without proof that the provider of material, nonpublic information received a personal...more
On Dec. 5, 2019, the U.S. House of Representatives passed the Insider Trading Prohibition Act (ITPA) by a vote of 410-13. If passed by the Senate and signed into law by the President, the bill will establish the first...more
December 9th, 2019, the full House of Representatives approved H.R. 2534, otherwise known as the Insider Trading Prohibition Act. If passed by the Senate and signed by the President, this legislation would mark an important...more
Insider trading has frequently been splashed across headlines in recent months, with a congressman, an NFL player, a comedy writer, and a Silicon Valley executive all facing charges. In the background of these headlines are...more
The most basic story of insider trading goes something like this: a corporate insider learns secret company information in the course of doing her job. She then goes out and trades on it, making (or saving) a bunch of...more