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Question of the Week — Three Years in Prison for Insider Trading – Too Harsh or Not Harsh Enough?

Posted  06/28/19
stock market numbers
A London judge sentenced former UBS compliance officer Fabiana Abdel-Malek and day trader Walid Choucair to three years in prison for insider trading. At trial, the jury saw evidence suggesting that Abdel-Malek and Choucair were in constant communication as the compliance officer learned of potential takeover deals and other confidential company information through UBS’s internal databases. Abdel-Malek and Choucair...

American Success Story or an Illegal Tipster for Jury to Decide

Posted  04/11/18
By the C|C Whistleblower Lawyer Team On Tuesday, attorneys delivered opening arguments in the trial of Benjamin Chow, a Chinese immigrant who has been charged with securities fraud in connection with Canyon Bridge Capital Partners’ failed $1.3 billion acquisition of Lattice Semiconductor Corp. Last year, the Trump Administration blocked the Chinese-backed private equity firm from buying the U.S.-based chipmaker,...

Equifax Executives May Find Themselves in Trouble with the SEC

Posted  09/11/17
By the C|C Whistleblower Lawyer Team Last Thursday, Equifax revealed that it experienced a data breach that affected 143 million people. Equifax is one of the largest credit rating agencies in the world, holding personal identifying information, and financial metrics of millions of Americans. On Friday, it became public that three Equifax executives sold nearly $2M worth of stock within hours of the breach. The...

SEC Uncovers Wide-Reaching Insider Trading Scheme

Posted  08/18/17
By the C|C Whistleblower Lawyer Team The SEC announced insider trading charges against seven individuals who generated millions in profits by trading on confidential information about dozens of impending mergers and acquisitions.  Data analysis allowed the SEC’s enforcement staff to uncover the illicit trading despite the traders’ alleged use of shell companies, code words, and an encrypted, self-destructing...

In Their Own Words -- Ceresney

Posted  10/12/16

--  “This has been a strong year for the Enforcement Division, with groundbreaking insider trading and FCPA [Foreign Corrupt Practices Act] cases and other important actions across the full spectrum of the securities laws.”

Andrew J. Ceresney, Director of the SEC’s Enforcement Division, commenting on the agency’s enforcement activities over the past year.

SEC Whistleblower Program Continues to Gain Steam With No Signs of Slowing Down

Posted  11/30/12
By Jason Enzler The SEC just released its second annual report on its whistleblower program (available here).  While there are no major surprises, there are some interesting facts to take away and even some trends that can be deduced.  Consistent with our report in a previous post, the number of attorneys staffing the SEC’s Whistleblower Office has doubled.  See Business Is Booming At The SEC Whistleblower...

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