Header graphic for print
The Securities Edge Securities Blog for Middle-Market Companies

Category Archives: SEC Enforcement

Subscribe to SEC Enforcement RSS Feed

It was me! SEC to toss “neither admit nor deny” policy in certain cases

Posted in SEC Enforcement

SEC Chair Mary Jo White has indicated that the SEC will require that, in certain cases, admissions be made as a condition of settling rather than permitting the defendant to “neither admit nor deny” the allegations in the complaint of its enforcement action.  The move marks a departure from the typical practice at the SEC… Continue Reading

Continued increased enforcement of Foreign Corrupt Practices Act (FCPA) shift toward financial services industry

Posted in SEC Enforcement

The Foreign Corrupt Practices Act (“FCPA”), enacted to deter bribery and other corrupt practices in the conduct of international business, originally claimed jurisdiction over U.S. companies and individuals who used the mail or other instrumentalities of interstate commerce to further a bribe.  A 1998 amendment, however, expanded the FCPA’s jurisdictional reach to include, among others,… Continue Reading

Federal prosecutors: Mafia gives new meaning to ‘hostile takeover’

Posted in SEC Enforcement

Although this was a news story that hit about six months ago, we saw very little coverage on, what we think, is a very novel alleged hostile takeover bid by organized crime.  On October 26, 2011, a federal grand jury indicted Nicodemo S. Scarfo, an alleged member of the Lucchese crime family, Salvatore Pelullo, an… Continue Reading

S.E.C. Takes a Harder Line on Admissions of Guilt

Posted in SEC Enforcement

Earlier this month, the S.E.C. changed its long standing practice of allowing defendants of securities violations to “neither admit nor deny” criminal wrongdoing.  This change is effectively the S.E.C.’s response to critics that say that the agency should not let criminal defendants simply pay a fine and avoid an admission of guilty.  The new policy… Continue Reading