Each year, the Department of Justice ("DOJ"), the Securities and Exchange Commission ("SEC"), and in recent years, the Commodity Futures Trading Commission ("CFTC") dedicate substantial resources to investigating and...more
On May 18, 2022, the Court of Appeals for the Fifth Circuit ruled that key aspects of the SEC's in-house enforcement regime for securities fraud cases were unconstitutional. The decision, Jarkesy v. SEC, has significant...more
5/23/2022
/ Adjudicatory Process ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appeals ,
Constitutional Challenges ,
Enforcement Actions ,
Enforcement Authority ,
Lack of Authority ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Violations
The Second Circuit reemphasized that conclusory allegations that a transaction took place in the United States will not pass muster under Morrison.
On March 4, 2021, the Second Circuit issued a Summary Order affirming...more
On August 23, 2017, the Second Circuit Court of Appeals affirmed the insider trading conviction of Matthew Martoma, a former portfolio manager for SAC Capital Advisors LLP ("SAC Capital"). In doing so, the court overturned...more
10/2/2017
/ Appeals ,
Breach of Duty ,
Criminal Convictions ,
Criminal Prosecution ,
Illegal Tipping ,
Insider Trading ,
Personal Benefit ,
Portfolio Managers ,
Reaffirmation ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
US v Newman ,
US v Salman