from Alison Frankel:

SCOTUS history backs 2nd Circuit insider trading opinion in Newman: law prof

By Alison Frankel
July 17, 2015

The first day of August is the Justice Department's deadline for asking the U.S. Supreme Court to review the most consequential ruling on insider trading in recent memory, the 2nd U.S. Circuit Court of Appeal's decision in U.S. v. Newman. You might think that seeking certiorari would be an easy decision for the government, since both federal prosecutors and the Securities and Exchange Commission have said the 2nd Circuit's Newman ruling will cost them cases because it restricts the definition of what constitutes a "personal benefit" for corporate insiders who pass along confidential information.

from Alison Frankel:

Why the SEC can’t easily solve Appointments Clause problem with ALJs

By Alison Frankel
June 17, 2015

(Reuters) - It seems as though there ought to be an easy way for the Securities and Exchange Commission to stomp out claims that its in-house judges are unconstitutionally appointed through a bureaucratic process, a defense theory that has spread as fast among SEC defendants as viral cute-animal memes on the Internet. But the SEC has so far avoided even addressing the potential consequences of that quick fix - perhaps because the solution isn't so simple after all. If the SEC changed the way it appoints in-house judges, the fix could call into question the outcome of scores of past and present SEC enforcement actions as well as cases at other regulatory agencies.

from Financial Regulatory Forum:

Lessons learned: BHP Billiton fined for providing public officials luxury travel

By Guest Contributor
June 3, 2015

By Julie DiMauro, Regulatory Intelligence

NEW YORK, June 3, 2015 (Thomson Reuters Regulatory Intelligence) - The Securities and Exchange Commission on Wednesday charged global resources company BHP Billiton with violating the Foreign Corrupt Practices Act (FCPA) when it sponsored foreign government officials as guests at the 2008 Summer Olympics in Beijing.

from Financial Regulatory Forum:

Finance, legal professionals question impact of OSC Whistleblower Program on ‘culture of compliance’

By Guest Contributor
June 2, 2015

By Helen Chan, Compliance Complete

TORONTO, June 2, 2015 (Thomson Reuters Accelus) - The Ontario Securities Commission (OSC) recently closed the consultation period on its proposed whistleblower program, but debate over the draft rules appears to be far from over. Finance and legal professionals have raised concerns over the program, particularly the absence of requiring eligible whistleblowers to report misconduct to internal compliance personnel prior to approaching the OSC.
Modeled after the Dodd-Frank Whistleblower Program, the OSC's Whistleblower Program seeks to encourage individuals with information of financial misconduct at their firms to come forward.

from Alison Frankel:

SEC commissioners order affidavits on hiring of in-house judges

By Alison Frankel
May 28, 2015

(Reuters) - The commissioners of the Securities and Exchange Commission seem to think there may just be something to the latest defense arguments that its in-house administrative law judges are unconstitutional.

from Financial Regulatory Forum:

Former U.S. CFTC chair criticizes Volcker call to merge agency with SEC

By emmanuelolaoye
May 20, 2015

A former head of the Commodity Futures Trading Commission has questioned Paul Volcker's call to merge U.S. regulatory agencies under the leadership of the Federal Reserve.

from Breakingviews:

Wall Street owners finally get breakup bona fides

March 19, 2015

A Bank of America ATM sign is pictured in Encinitas, California

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Breakingviews:

SEC gets tough on auditors and soft on China

February 9, 2015

By John Foley 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Breakingviews:

U.S. insider trading cops risk pasting from bench

January 30, 2015

By Reynolds Holding

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

from Alison Frankel:

N.Y. judge to Wylys: You can’t keep SEC away by declaring bankruptcy

By Alison Frankel
November 5, 2014

Onetime Texas billionaire Sam Wyly and the estate of his late brother Charles just can't seem to outsmart the Securities and Exchange Commission. Their latest attempt to evade the consequences of their allegedly fraudulent offshore trust scheme failed Monday, when U.S. District Judge Shira Scheindlin of Manhattan, in a ruling of first impression in the 2nd U.S. Circuit Court of Appeals, said that the SEC is entitled to freeze the Wylys' assets, even though both Sam and Charles' estate declared Chapter 11 bankruptcy in late October, after the SEC began to take steps to collect the nearly $200 million (plus interest) Scheindlin awarded the agency in September.