Steven D. Feldman highlights three cases involving art and cultural objects in 2012 in the Spring 2013 issue of The Journal of Art Crime.
Pension funds have recently been in the public eye due to major scandals in New York State and elsewhere in which investment advisers were accused of making payments to help themselves get government business.1 As part of a three year investigation into New York State’s $125 billion pension fund by former Attorney General Andrew Cuomo, eight individuals pleaded guilty in relation to the administration of these funds.2 As a result, the U.S. Securities and Exchange Commission (‘‘SEC’’) approved new regulations to curtail these payments by limiting political contributions. Although the new regulatory scheme promises to diminish the possibility of ‘‘pay-to-play,’’ it presents a new series of questions as to how it will impact statutorily protected employee lifestyle choices outside of the workplace, particularly employees’ involvement in the political process. The SEC failed to consider these lifestyle statutes when creating the new rules. While the SEC may be able to regulate investment advisers, will employers be able to control, punish or fire employees who violate the rules?
Joseph Spinelli of Navigant and Herrick, Feinstein partner Steven D. Feldman discuss the Justice Department's increased enforcement, and detail methods to prevent FCPA violations now that more corporate transactions will be subject to the department's scrutiny making FCPA safeguards more important than ever.
In every criminal case, the defendant must make a critical decision: go to trial or plead guilty. A slew of factors go into that decision. Three questions loom largest: how likely will the defense prevail at trial, what sentence do we anticipate if the defendant pleads guilty, and what is the likely sentence if the defendant is found guilty after trial? Here, we will concentrate on the latter two questions, which touch on the vagaries of sentences in securities fraud cases in the post-guidelines world.
Securities law practitioners should take note of a recent decision by United States District Judge Gerard E. Lynch, which marks the first use of the Securities and Exchange Commission’s new anti-fraud rules promulgated under the Investment Adviser Act.