"PLI Hedge Fund and Private Equity Enforcement & Regulatory Developments," Practising Law Institute, New York, November 19, 2013
“Leading Current Issues in Securities Regulation and Enforcement,” Symposium at Columbia Law School Center on Corporate Governance, November 15, 2013
A U.K. court ruling Friday keeping intact lawsuits accusing Barclays PLC and Deutsche Bank AG of manipulating the London interbank offered rate will encourage more investors to bring litigation over the rate-fixing scandal, attorneys say.
The Second Circuit on Tuesday refused to revive a class action in which investors claimed they'd been misled about Freddie Mac’s financial condition ahead of the subprime mortgage crisis, saying the investors failed to show their losses had been caused by Freddie’s misstatements.
“SEC and FINRA Investigations of Hedge Funds, Asset Managers, Broker-Dealers and Other Investment Entities,” Securities Docket Enforcement Forum, Washington, October 9, 2013
On October 22, the SEC and DOJ announced that they had settled a joint FCPA enforcement action against Diebold Inc., the Ohio-based global provider of ATMs and bank security systems. The settlement comes almost three years after Diebold first announced that it was the subject of such an investigation. The SEC and DOJ settlements concern allegedly illicit business activities in China, Indonesia, and Russia. In settling the matter, Diebold agreed to (i) pay approximately $48 million to the US government, (ii) appoint an independent compliance monitor for eighteen months, and (iii) continue to implement a compliance and ethics program designed to prevent and identify violations of the FCPA.