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To many this will come as a complete surprise, but there is no federal law that explicitly outlaws insider trading. Rather, for decades the SEC and the Department of Justice, with the endorsement of federal judges, have used the general securities fraud statutes to patch together a complex and problematic insider trading common law. After years of criticism, however, that could now be changing. On May 18, the U.S. House of Representatives passed legislation, which, for the first time in history, would explicitly outlaw insider trading in the United States. It is unclear whether the Senate will act to pass this law, which would require bipartisan support. But if so, it would represent a dramatic change for how the government prosecutes insider trading — and a likely increase in enforcement.
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Sorting Through the Trump Financial Documents: How Prosecutors Will Search for Clues
By Nicholas Gaffney
A Q&A with Bobby Malhotra, Munger, Tolles & Olson LLP, Los Angeles
Best Practices for Investigations In Remote Environments
By Colin Jennings, David Meadows, Nicole Wells and John Winkler
The landscape of corporate investigations has changed dramatically in the last year. New regulations, new market pressures, new data sources and more challenging…
Attorney Competence In Technology Is In the Spotlight. Are You Competent?
By Tomas Suros
A summary of the key technology principles addressed in Formal Opinion 498, in which the ABA revised Model Rule 1.1 addresses virtual work environments and practices.
Use of Deferred Prosecution Agreements In White Collar Investigations
By Elkan Abramowitz and Jonathan S. Sack
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA’s new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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