Category: News

The SEC rewarded an industry expert with more than $700,000 after evaluating four whistleblower requests for a reward. In the press release concerning the award, the SEC encouraged other outsiders who do not work for the company but suspect violations of the federal securities laws to report them. Andrew Ceresney, Director of the SEC’s Enforcement...

Class Action Litigation Report Settlements in all types of workplace class actions in 2015 reached an all-time high of $2.48 billion according to the 12th Annual Workplace Class Action Litigation Report published by Seyfarth Shaw, a law firm representing employers in the defense of workplace lawsuits. The report identifies and analyzes key trends and settlements...

Exchange Traded Funds and Variable Annuities Expect the Securities and Exchange Commission to take a harder look at whistleblower tips related to Exchange Traded Funds and Variable Annuities after adding these two categories to its examination priorities for 2016 at the Office of Compliance Inspections and Examinations. The OCIE administers examinations of broker-dealers, investment advisers,...

Morgan Stanley Agrees to Settlement Morgan Stanley Investment Management has agreed to pay $8.8 million to resolve an investigation into mortgage backed securities that its portfolio manager parked at a broker before buying back the securities into other customer accounts on favorable terms. The brokerage firm, SG Americas, has agreed to pay more than $1...

End of the Year Settlements It must be the last weekend before Christmas because health care companies are looking to resolve government investigations into their wrongdoing before we leap into the new year! In the last two days, we’ve now seen four multi-million dollar settlement announcements in False Claims Act cases. A pharmaceutical company settled...

Settlement Agreements for JP Morgan An investigation into the adequacy of disclosures to clients of its wealth management business has resulted in a settlement of $367 million with U.S. securities regulators to resolve their investigations into the practices at JPMorgan. JPM clients were steered toward certain mutual funds and hedge funds without disclosing the bank’s...

Bloomberg is reporting that investment banks are under investigation by the Securities and Exchange Commission for manipulation of the credit default swap market. Employees or former employees of investment banks with information about their price manipulation or collusion in the CDS market should consider contacting an attorney for assistance reporting the evidence to the SEC...