Good morning! Here’s what’s up.
SEC Rescinds Policy Regarding Denials of Settlements in Enforcement Actions The Securities and Exchange Commission today rescinded a policy, codified in Rule 202.5(e) of its informal rules of procedures, stating that when it chooses to settle an enforcement action in which a sanction is imposed, it will not settle unless the defendant or respondent also agrees not to publicly deny the allegations in the complaint or administrative order. Rescinding Rule 202.5(e) aligns the Commission with the overwhelming majority of federal agencies that do not have a similar rule and gives the Commission more flexibility in settling enforcement actions, which conserves resources, provides certainty, and potentially expedites the return of money to injured investors. The recission recognizes that the effect on the public interest from such denials may be minimal and that the policy itself may have created an incorrect impression that the Commission is trying to shield itself from criticism. “For more than 50 years, the Commission has conditioned settlement on a defendant’s promise not to publicly deny the Commission’s allegations. I am pleased that we are rescinding the no-deny policy today,” said SEC Chairman Paul S. Atkins. “Speech critical of the government is an important part of the American tradition. This recission ends the policy prohibiting such criticism by settling defendants.” by SEC Press Release |
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👉 The press release adds: "There is no known instance of the Commission seeking to reopen an administrative or civil proceeding as a consequence of a defendant or respondent violating a no-deny provision to which they have consented."
Is this true? Please hit "reply" and email me with any "known instances."
Trump administration ends civil, criminal cases against Adani after $10 billion investment promise The Trump administration on Monday moved to dismiss criminal fraud charges against Indian billionaire Gautam Adani, while also settling alleged Iran sanctions violations involving one of his companies. The resolution of outstanding cases against one of the world's richest people came after Adani's attorney, who is also a personal attorney of U.S. President Donald Trump, said last month his client wanted to invest $10 billion in the United States but could not do so while the cases proceeded, according to a source familiar with the matter. by Reuters: Business |
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Sometimes Andrew Left Was Right Anyway the trial started last week, and the government called as witnesses some retail traders who followed Left and lost money. You might think: “Ah, yes, retail traders who followed Left’s advice, shorted stocks that he said he was short, and then lost money because he was lying and just pushing around those stocks to make a quick buck.” But no! The government called witnesses who proved Left’s point. [...] I do not understand why this guy was a witness against Left? “Andrew Left heroically spotted a fraud and told everyone about it, but I ignored him and lost money, so put him in prison”? What on earth? Shouldn’t he be mad at the people who told him to buy these stocks? by Matt Levine – Bloomberg Opinion |
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Prediction market ‘watchdog’ launches six-figure ad campaign ahead of Senate hearing A group that says its mission is to serve as a prediction market “watchdog” is launching a six-figure ad buy focused on digital and billboards this week in the Washington, D.C., media market, timed to coincide with a Senate Commerce Committee hearing examining the expansion of gambling and prediction markets. The group, called FairPredicts, touts itself as a nonpartisan group that holds “the prediction market industry accountable.” It has specifically been critical of Kalshi, one of the largest prediction markets that spent nearly $500,000 in 2026 alone lobbying Congress and the Commodity Futures Trading Commission, the federal agency that regulates the industry. by msnbc.com: Business |
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👉 I would include the Dr. Evil "One Million Dollars" .gif here but that would be seven figures.
Supreme Court won’t hear ex-lawmaker’s bid to toss insider trading conviction The Supreme Court on Monday declined to take up a former congressman’s bid to toss his conviction on insider trading charges.
Former Rep. Stephen Buyer (R-Ind.) was convicted in 2023 on four federal charges tied to hundreds of thousands of dollars he earned trading inside information, which he acquired as a consultant in the telecommunications industry after leaving Congress. A federal appeals court affirmed his conviction last year, but he denies wrongdoing. The former congressman asked the justices to decide whether stock trading on an exchange whose physical headquarters is based in Manhattan is enough to require that a case be tried in the Southern District of New York for insider trading charges. by thehill.com |
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Drawing on decades of asset management experience, Mr. Marin explains why complex structures, valuation practices, and evolving liquidity features are setting the stage for disputes around disclosure, covenants, and fiduciary duties. A timely perspective for counsel navigating an increasingly stressed credit environment.
Connect with us to discuss what this means for your credit-related litigation and expert witness needs.
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