Jesse Litvak v. SEC

On March 7, 2014 Jesse Litvak was convicted of ten counts of securities fraud on the basis of alleged misrepresentations made by Mr. Litvak in connection with the purchase and sale of residential mortgage-backed securities, in violation of 15 U.S.C. §§ 78(j) & 78ff

POSTED IN Banking & Finance, Broker-Dealer, Derivatives, Financial Markets Regulation, Government, SEC Investigations, White Collar Crime

S.E.C. Tells High Frequency Trading Firm Athena “Not So Fast!”

On Oct 16, 2014 the Securities and Exchange Commission (“SEC”) settled with Athena Capital Research (“Athena”) over their High Frequency Trading (“HFT”) system, known as “Gravy,” that defrauded the Nasdaq. Athena carried out a series of “marking the close” orders in an attempt to illegally alter the prices of “tens of thousands” of publicly traded securities.

POSTED IN Broker-Dealer, Corporate Law, SEC Investigations, Securities Regulation

Fordham’s Business Law Practitioners Series: Andrew M. Calamari, Director of the New York Regional Office of the SEC

On October 21st, Fordham’s Business Law Practitioners Series For Students held their third event of the semester inviting Andrew M. Calamari to speak. Mr. Calamari is the Director of the New York Regional Office of the U.S. Securities and Exchange Commission. Mr. Calamari is also distinguished Fordham alum, graduating in 1985. His legal career began in private practice, as a litigation partner at Donovan Leisure Newton & Irvine. Before coming to the SEC in 2000, he worked for five years at his own firm, and co-authored a treatise on Complex Litigation as well as a chapter on securities litigation in a Matthew Bender treatise on securities law. His work at the SEC earned him immense recognition, including the Arthur F. Matthews Award in 2004, and the Stanley Sporkin Award, one of the SEC’s top awards for its enforcement officials, in 2009.

POSTED IN Banking & Finance, Broker-Dealer, Corporate Law, Financial Markets Regulation, Fordham Corporate Law Center, Government, Lectures Series, SEC Investigations, Securities Regulation

Second Circuit to Shed Light on Personal Benefit Requirement for Tippee Liability

Anthony Chiasson’s infamous insider trading case has shed much light on the inequity underlying the inconsistencies of tippee liability.

POSTED IN Banking & Finance, Corporate Law, Securities Regulation

Escaping Secondary Liability: the Ever-Increasing Scope of SLUSA

On October 7, the Supreme Court heard oral argument in Proskauer Rose LLP v. Troice, a case stemming from the seven billion dollar Ponzi scheme perpetrated by “Sir” Allen Stanford. This case concerns the scope of the preclusion provision under the Securities Litigation Uniform Standards Act of 1998 (“SLUSA”), which was designed by Congress to fill in the perceived gaps left under the Private Securities Litigation Reform Act of 1995 (“PSLRA”). PSLRA’s objective is “to combat abusive and extortionate securities class actions” by implementing “uniform standards” and heightened pleading requirements for securities fraud class actions brought in federal courts. In order to avoid the PSLRA’s requirements, plaintiff’s attorneys began filing their federal securities fraud class actions in state court.

POSTED IN Litigation, Securities Regulation, Supreme Court

14th Annual A.A. Sommer, Jr. Lecture, Featuring SEC Chair Mary Jo White

On Thursday, October 3, the 14th Annual A.A. Sommer, Jr. Lecture on Corporate, Securities and Financial Law was held in the McNally Amphitheatre at Fordham Law School.  The lecture series, established by Morgan, Lewis & Bockius LLP, provides a venue for leading regulators and policymakers in the global financial world to share insights into relevant […]

POSTED IN A.A. Sommer Jr. Lecture, SEC Investigations, Securities Regulation

Deal or No Deal

While it stretches the bounds of imagination to think of Mary Jo White as bald and with a small soul patch beneath her lower lip, she and her fellow Commissioners at the U.S. Securities and Exchange Commission (“SEC”) have recently morphed into a role akin to Howie Mandel in his popular television show “Deal or […]

POSTED IN SEC Investigations, Securities Regulation

Bitcoiners in the Court Room, Part I: Government Oversight

(Editor’s note: the following post comes to us from William B. Fleming and Joseph Evans from Gage Spencer & Fleming LLP.  You can also find the full article here.) Bitcoiners beware, in SEC v. Shavers, No. 4:13-cv-416, 2013 WL 4028182 (E.D. Tex. Aug. 6, 2013) the Eastern District of Texas ruled that investments in Bitcoin […]

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POSTED IN Litigation, Practitioner Post, SEC Investigations, Securities Regulation

Announcement: Fordham Journal of Corporate & Financial Law’s 2012 Symposium – “Regulation of Over-the-Counter Derivatives” – February 13, 2012

The Fordham Journal of Corporate & Financial Law (FJCFL) and the Fordham Corporate Law Center are proud to announce that this year’s annual FJCFL symposium will be titled “Regulation of Over-the-Counter Derivatives” and will take place on Monday, February 13th, 2012 at 113 West 60th Street, Lowenstein Building, 12th Floor Lounge. Overview: This year’s symposium, titled “Regulation of Over-the-Counter […]

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POSTED IN Dodd-Frank, Securities Regulation, Symposia

Press Coverage of Twelfth Annual Sommer Lecture featuring SEC Commissioner Troy A. Paredes

  Click on the article title to jump to piece: Regulating Wall Street In The Age of Disclosure Overload by Bill Singer Less but better disclosure may be more, U.S. SEC Commissioner Paredes says by Stuart Gittleman   Regulating Wall Street In The Age of Disclosure Overload By Bill Singer Forbes Pinch me. Please. Again. […]

POSTED IN News & Events

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