LINKS
SAN DIEGO
CHICAGO
CONNECT
USERWAY
Disclaimer: The information on this website is provided for general informational purposes only, and may not reflect the current law in your jurisdiction. No information contained on this site should be construed as legal advice from The Law Offices of Jeffrey T. Petersen or the individual author, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this content should act or refrain from acting on the basis of any information included in, or accessible through, this website without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.
© The Law Offices of Jeffrey T. Petersen 2024
site design by digitalstoryteller.io
© The Law Offices of Jeffrey T. Petersen 2024
site design by digitalstoryteller.io
UBS ANNOUNCES HONG KONG SECURITIES REGULATORS INVESTIGATING ITS WORK ON IPOS
/in News /by The Law Offices of Jeff Petersen TeamNow, there’s news this week that Hong Kong’s Securities and Futures Commission is investigating UBS’s conduct in sponsoring IPOs. UBS made the announcement in its most recent quarterly earnings report. UBS announced that the Commission gave notice it would take action against the company and certain unnamed employees for their work in sponsoring IPOs.
SEC RESPONDS TO SAN DIEGO INVESTMENT ADVISER RAYMOND LUCIA’S PETITION FOR REHEARING ON CLAIM SEC IN-HOUSE COURTS ARE UNCONSTITUTIONAL
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamSan Diego-based investment adviser Raymond Lucia’s request that the court consider his challenge to the constitutionality of the SEC’s use of in-house courts was recently rejected by a panel of the U.S. Court of Appeals for the District of Columbia Circuit. Lucia, a well-known investment adviser with a long career, was charged by the SEC with conducting misleading investment seminars that promoted a “buckets of money” investing strategy that was purportedly supported by empirical testing, when no such reliable testing had been done. The SEC proceeding resulted in what Lucia’s own attorneys described as a “career-ending lifetime industry bar”.
INVESTMENT ADVISER PLEADS GUILTY TO INSIDER TRADING
/in News /by The Law Offices of Jeff Petersen TeamThe U.S. Attorney’s office for the Southern District of New York announced today that David Hobson, who served as an investment adviser in the Providence, Rhode Island, offices of two different national broker-dealer and investment advisers, pled guilty to engaging in a scheme to commit insider trading on deals involving pharmaceutical company Pfizer.
OPENING ARGUMENTS BEGIN IN SEC CASE AGAINST PARTRIARCH’S LYNN TILTON
/in News /by The Law Offices of Jeff Petersen TeamThe SEC asserted that Tilton and her firm improperly collected the money in fees and other payments for over 10 years without disclosing to investors that companies were defaulting on loans the investors had made to the failing companies attempting turnarounds.
HONG KONG EXCHANGE TO INSTITUTE VOLATILITY CONTROL MECHANISM FOR DERIVATIVES MARKET
/in News /by The Law Offices of Jeff Petersen TeamHong Kong Exchanges and Clearing Limited (HKEX), which operates stock and futures markets in Hong Kong, announced a plan to institute a Volatility Control Mechanism (VCM) designed to prevent extreme price volatility for its derivatives market in November of 2016. The institution of this mechanism follows the HKEX’s adoption of a VCM for the securities market in August of this year.
CHAIR OF SEC DELIVERS SPEECH ON NEED FOR GREATER REGULATION OF THE U.S. TREASURY MARKET
/in News /by The Law Offices of Jeff Petersen TeamMary Jo White, chair of the SEC, discussed the need for increased regulatory oversight of U.S. Treasury trading in a speech at the Evolving Structure of the U.S. Treasury Market Conference at the New York Federal Reserve Board yesterday.
CHINESE SECURITIES REGULATOR ANNOUNCES IPO INVESTIGATIONS ON SIX COMPANIES
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe China Securities Regulatory Commission (“CSRC”) released a statement Friday on its investigation into six companies over alleged securities violations pertaining to initial public offerings and disclosures.
TECHNOLOGY COMPANY AGREES TO $2.5 MILLION FINE WITH SEC OVER ACCOUNTING VIOLATIONS
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe SEC just announced that a Houston technology solutions company agreed to pay a $2.5 million penalty to settle charges that it overstated profits, as well as that two former executives of the company agreed to settle charges of causing the violations.
SEC CHARGES ATTORNEY WITH USING BOARD ACCESS TO ENGAGE IN INSIDER TRADING
/in News /by The Law Offices of Jeff Petersen Teamcommittee of the board of directors at Nashville-based Pinnacle Financial Partners to trade on nonpublic information he learned about an impending merger.
SEC REFILES FRAUD COMPLAINT AGAINST TEXAS AG
/in News, Securities Law /by The Law Offices of Jeff Petersen TeamThe SEC refiled federal fraud charges against Texas Attorney General Ken Paxton, after the agency’s initial civil complaint was dismissed by a judge for lack of sufficient evidentiary allegations.
DOJ ANNOUNCES INSIDER TRADING CHARGES AGAINST FORMER TECH EXEC AND TWO OTHERS
/in News /by The Law Offices of Jeff Petersen TeamThe Department of Justice announced this week that a former Palo Alto, California, based global vice president of SAP SE and two others were indicted for their roles in a scheme to commit insider trading and money laundering, allegedly resulting in hundreds of thousands of dollars in profits.
SEC ANNOUNCES HIGHS IN ENFORCEMENT ACTIONS FOR FISCAL 2016
/in News /by The Law Offices of Jeff Petersen TeamThe SEC recently announced its enforcement results for fiscal year 2016 (ending September 30), stating that it reached new highs in the number of actions filed and in the money that was forfeited through disgorgement and penalties.
SEC PENALIZES DEUTSCHE BANK $9.5 MILLION FOR FAILING TO SAFEGUARD RESEARCH INFORMATION
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe SEC announced today that Deutsche Bank Securities agreed to pay a $9.5 million penalty for failing to properly safeguard nonpublic information generated by its research analysts. Deutsche Bank also published an improper research report and failed to properly preserve and provide certain electronic records sought by the SEC during its investigation.
SEC RECORDS RELEASE SHOWS NEAR UNANIMITY IN BRINGING ACTIONS
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamRecords just released by the SEC pertaining to its votes to bring legal action against companies and individuals revealed that the Commission is less divided on such votes than was commonly thought.
CREDIT SUISSE AGREES TO PAY $90 MILLION PENALTY TO SEC
/in Corporate Transactional Law, News /by The Law Offices of Jeff Petersen TeamThe SEC announced today that Credit Suisse AG agreed to pay a $90 million penalty and admit wrongdoing to settle charges of misrepresenting how it determined a key performance metric in its wealth management business. In addition, a former executive of Credit Suisse agreed to settle charges that he was a cause of the violations.
SEC CHARGES OIL & GAS COMPANY WITH WIDESPREAD SECURITIES FRAUD
/in News /by The Law Offices of Jeff Petersen TeamAegis Oil, LLC and its CEO and President were charged by the SEC with widespread securities fraud in offering $35 million in unregistered stock to 250 investors across the country.