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Court Decision Makes Fund Managers Engaged in Insider Trading Personally Liable for Fund Trading Profits
February 20, 2014
Howard R. Elisofon, Steven D. Feldman
Securities Alert
The cost of insider trading just got more expensive for those who get caught.  In a February 18, 2014 decision by the U.S. Court of Appeals for the Second Circuit, a split appeals court panel found that an individual held liable for civil insider trading while working at an investment fund can be required to disgorge not only the profits he or she individually made by arranging for the winning trades for the fund, but can also be required to personally disgorge all of the profits that the fund reaped as a result of the illegal trades.
SEC Announces Examination Priorities For 2014
January 2014
Irwin M. Latner, Patrick D. Sweeney, Colin Bowes-Carlson
Securities Alert
On January 9, 2014, the Securities and Exchange Commission (the "SEC") published its annual letter announcing examination priorities for 2014 (the "Priorities Letter"). The Priorities Letter, which addresses both industry-wide and area-specific initiatives, aims to provide investment advisers, funds, broker-dealers, and other industry participants with a preview of key risks that the SEC intends to monitor and examine in 2014 through the National Examination Program.
Dodd-Frank Wall Street Reform Outline
Irwin M. Latner, Stephen D. Brodie, Patrick D. Sweeney, Julie Albinsky, Jessica D. Wessel
This outline, a briefing on the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, was used during the Fourth Annual Capital Markets Symposium on September 16, 2010.
The Road to Expungement Grows Longer
September 2010
Howard R. Elisofon
Securities Arbitration Commentator
Howard Elisofon and Grant Cornehls co-authored the article "The Road to Expungement Grows Longer," in Securities Arbitraion Commentator--the leading national publication on broker dealer arbitration.
1st Use Of New Pooled Investment Anti-Fraud Rules
December 19, 2008
Securities Law 360
Steven Feldman advises securities law practitioners to familiarize themselves with the SEC's new anti-fraud rules promulgated under the Investment Adviser Act. He predicts that the SEC and federal prosecutors will employ those rules in efforts to target hedge funds.
U.S. SEC Insider Trading Suits Against Foreign Citizens Increasingly Lead to Freezing of Assets
July 2008
Howard R. Elisofon
World Securities Law Report
Howard Elisofon authored this article, originally printed in Securities Regulation & Law Report entitled "Crossing Our Borders: Insider Trading, A Global Perspective."
Crossing Our Borders: Insider Trading, A Global Perspective
June 9, 2008
Howard R. Elisofon
Securities Regulation & Law Report
Howard Elisofon authored "Crossing Our Borders: Insider Trading, A Global Perspective" for Securities Regulation & Law Report.