In a case that gives the term “family values” an entirely new meaning, the Securities and Exchange Commission (“SEC”) recently charged a father and son in Lexington, S.C., with operating a fraudulent investment program designed to illegally profit from the deaths of terminally ill individuals. On September 20, 2013, the…
Written by: Jay B. Gould On September 17, 2013, the Securities and Exchange Commission (“SEC”) announced enforcement actions against 23 firms for short selling violations as the agency increases its focus on preventing firms from improperly participating in public stock offerings after selling short those same stocks. The enforcement actions…
This article was published by The FCPA Report and is reprinted here with permission. More and more, venture capital firms are investing in start-ups seeking to expand internationally or with nascent cross-border operations in place. Such investments offer opportunities for lucrative returns but also carry significant anti-corruption risk that VC firms are…
Written by: Kimberly V. Mann The Security and Exchange Commission’s recent enforcement action against Lawrence D. Polizzotto serves as a reminder to all issuers that Regulation FD enforcement is alive and well. The Polizzotto Case Polizzotto, the former vice president of investor relations at First Solar, Inc. (and, ironically, a…
The 4th Annual Excellence In Investing: San Francisco, in partnership with The Sohn Conference Foundation, will be held on October 23, 2013 at The Bentley Reserve. Excellence In Investing: San Francisco is the premiere Bay Area investor conference benefiting local and national education and other children’s causes. For more…
Written by: Jay B. Gould and Jessica Brown In response to the devastating effect of Hurricane Sandy which temporarily crippled U.S. equity and options markets in October 2012, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert on business continuity and disaster recovery planning…
Written by: Jay B. Gould On September 23, 2013, the JOBS Act rules that roll back the 80 year old ban on the use of general advertising and public solicitation by issuers of unregistered securities will be a reality. At least it will be a reality for fund managers that…
Written by: Jessica Brown On July 25, 2013, the Securities and Exchange Commission’s (“SEC”) Division of Investment Management released its first annual report to Congress, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), regarding how it used private fund data collected from investment advisers on…
Jay Gould discussed the SEC’s vote to lift a ban on hedge fund advertising with Deirdre Bolton on Bloomberg Television’s “Money Moves.”
Written by: Kimberly Mann Private investment fund structures frequently include one or more vehicles that are organized under the laws of the Cayman Islands. The Cayman Islands is a preferred jurisdiction because there is no tax on income, profits or capital gains, nor is there withholding tax. In addition, at…