U.S. Supreme Court limits timing of federal enforcement actions *

USA - March 7 2013
On February 27, 2013, the U.S. Supreme Court in Gabelli v. U.S. Securities and Exchange Commission limited the time frame in which federal regulators…

Co-authors: Arthur G. Jakoby, Philip W. Raimondi.

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Second Circuit expands SEC's reach in charging aiding and abetting securities fraud *

USA - August 21 2012
On August 8, 2012, the Second Circuit issued an important clarification regarding the statutory authority of the U.S. Securities and Exchange Commission ("SEC") to charge aiding and abetting liability in civil enforcement actions in U.S. Securities and Exchange Commission v. Apuzzo.

Co-authors: Arthur G. Jakoby.

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SEC Cooperation Initiative *

USA - March 27 2012
On March 19, 2012, the Securities and Exchange Commission issued a press release (the "Press Release") praising a former executive of AXA Rosenberg Group LLC ("AXA") for providing material assistance under the SEC's Cooperation Initiative.

Co-authors: Arthur G. Jakoby.

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Federal court awards investment bank restitution for legal fees expended conducting internal investigation and interacting with the SEC and DOJ, plus partial return of insider trader's past compensation *

USA - March 27 2012
A federal judge last week ordered a former Morgan Stanley portfolio manager convicted of insider trading to pay the bank more than $10 million in restitution to compensate it for legal fees and related costs it paid as a result of the defendant's criminal conduct.

Co-authors: Steven D. Feldman, David M. Rosenfield, Arthur G. Jakoby.

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CFTC finalizes changes to CPO and CTA registration and compliance rules *

USA - February 23 2012
On February 9, 2012, the Commodity Futures Trading Commission ("CFTC") issued final rules that significantly alter the registration and compliance requirements of many commodity pool operators ("CPOs") and commodity trading advisors ("CTAs").

Co-authors: Arthur G. Jakoby.

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