Securities Regulation & Law Report Index-Summary

HAITI

– Affinity fraud, alleged scheme targeting Haitian-Americans halted (S.D. Fla.), 14

HANDICAPPED PERSONS

HEALTH CARE

– Accounting scheme, Natl. Century Financial Enter. executives receive prison sentences (S.D. Ohio), 639
– Auditor liability, settlement with Ernst & Young over HealthSouth audits approved (N.D. Ala.), 640
– Baxter securities fraud claims dismissed (N.D. Ill.), 283
– Class actions against biotechnology companies, accounting and financials most common cause of claims in 2008, survey says, 773
– FCPA, attorneys warn conferees of risks in medical device and pharmaceutical sectors, 1306
– Insider trading, McKesson executive settles claims over health care firm acquisition (N.D. Cal.), 765
– Managed care company, securities fraud suit may proceed (M.D. Fla.), 1846
– Medical devices

– – Implantable defibrillator, dismissal with prejudice of investor complaint over nondisclosure approved (7th Cir.), 1935
– – Medtronic, shareholder derivative claims dismissed for failure to make presuit board demand (D. Minn.), 983
– – Surgical products company, misleading IPO prospectus claims survive dismissal motion (S.D.N.Y.), 212

– Medical receivables company offering fraud, emergency freeze of operations ordered (C.D. Cal.), 1493
– Medical transcription, phony billing scheme suit transferred (S.D.N.Y.), 1426
– Medicare pilot program, claims re misleading disclosures may proceed (M.D. Tenn.), 569
– Mergers, post-closing calculation dispute re care company must be arbitrated (Del. Ch.), 92
– Pharmaceuticals

See PHARMACEUTICALS

– Revenue inflation

– – Cardinal Health officers settle claims (S.D.N.Y.), 1039
– – Reimbursement fraud, Tenet Healthcare COO settles charges (C.D. Cal.), 1762

– SLUSA, medical management company, post-acquisition action falls under Delaware carve-out (9th Cir.), 258
– Special meetings, AMN Healthcare Serv. may not omit proposal (SEC No-Action Letter), 142
– Stock option backdating

– – Physician services provider settles charges (S.D. Fla.), 433
– – United Health Group and general counsel settle charges (D. Minn.), 33

HEDGE FUNDS

– Arbitration award to investors who relied on broker statements at odds with offering documents not improper (C.D. Cal.), 1165
– Assets, SEC staff to confirm holdings through third-party verification, 451
– Bribery, brokers and advisers charged in scheme to route hedge fund trades (S.D.N.Y.), 460
– Broker-dealers, FINRA reviewing advisory businesses, 109
– Conn., registration and disclosure bill considered, 626
– Cooperation, international group supports regular disclosure measures, 353
– Credit crisis, related claims jumped significantly in 2008, study says, 1204
– Disgorgement based on reasonable approximation of ill-gotten gains may stand (11th Cir.), 967
– Dismissal as sanction for violation of protective order in claim that funds spread false information re Biovail (D.N.J.), 345
– Due diligence, SEC official expects to see more cases, 1936
– European Union

– – Member states call for new charter at G-20 summit, 349; measures to be presented, 350; broad supervision initiatives introduced, 402; legislative agenda, 403; G-20 announces intent to regulate and require disclosure, 598
– – Reporting requirements, legislation proposed for hedge funds and private equity, 801; draft directives criticized by UK officials, 1298; U.S. legislators say EU proposals should be scaled back, 1669

– Examinations, preparation is recommended for routine SEC action, 1779
– Fabricated client used to lure customers, SEC alleges (D.R.I.), 461
– False statement to SEC investigators, attorney argues permanent bar is reversible error (SEC), 56; SEC affirms permanent bar, 302
– Fees, CalPERS proposes ending short-term performance fees, 604
– Forged brokerage statements overstated assets, emergency relief ordered (W.D. Tex.), 813
– Fund of funds, manager faces civil and criminal claims (S.D.N.Y.), 377
– Futures trading report communicated but did not cause loss, claim dismissed (S.D.N.Y.), 676
– High risk firms, SEC official announces nationwide sweep, 1157
– Insider trading

See INSIDER TRADING

– Kickbacks, “pay to play” scheme, manager settles criminal and civil charges (N.Y. Sup. Ct, S.D.N.Y.), 731; equity firm founder charged in scheme (N.Y. Crim. Ct.), 826; Cuomo announces subpoenas and multistate task force, 880
– Late trading

See LATE TRADING

– Life insurance portfolio, final judgment entered against adviser of unregistered fund (D. Mass.), 659
– Madoff fraud

See MADOFF FRAUD

– Managed Funds Ass'n forms affiliations with regional groups, 1896
– Market timing and late trading, Bahamas fund settles claims (S.D.N.Y.), 1244
– Marketing, rosy claims lead to civil and criminal charges (S.D.N.Y.), 357
– Mass., administrative action over unregistered securities did not violate free speech (Mass. Super. Ct.), 1835
– Merger, no factual support for claims that fund would finance cable acquisition, claims dismissed (Del. Ch.), 1173
– Nadel, missing adviser alleged to have overstated value of funds, emergency relief granted (M.D. Fla.), 117; adviser arrested on criminal fraud charges (S.D.N.Y.), 162; indictment (S.D.N.Y.), 818; investors seek to consolidate claims, 1491
– NASAA urges SEC oversight and disclosure, 175
– Penny stock price manipulation, trader pleads guilty (S.D. Fla.), 817; head of firm ordered to pay disgorgement, criminal trial date set, 869
– Phony balances, emergency relief granted against manager and firm (D. Minn.), 355
– Pleading, lack of particularity dooms claims false representation claims (S.D.N.Y.), 1530
– Ponzi schemes

See PONZI SCHEMES

– President's Working Group issues recommendations for asset managers and investors, 107
– Prime bank scheme, assets frozen (M.D. Fla.), 1111
– Prime brokers

See BROKER-DEALERS

– Public-Private Investor Program, support is unlikely without valuation mechanisms for toxic assets, 298; competition mechanism proposed in updated plan, 550; new deadlines set for private investors, 656
– Real estate promissory notes fraud, former broker charged (S.D.N.Y.), 11
– Redemptions, concealment by funds and manager claimed (N.D. Tex.), 1304
– Regulation

– – Adviser registration

See LEGISLATION, FEDERAL, HR 711, S 344, S 1276

– – Asset test, Obama plan proposes for registration, 1137
– – Bipartisanship is key to successful reform, Kanjorski (D-Pa) tells conferees, 810
– – Common approaches to regulation being considered by SEC and UK regulator, 1732
– – Congressional Oversight Panel calls for identification and regulation of systemically risky institutions, 155
– – Gaps in regulation, Kanjorski (D-Pa) and Paredes give opposing views, 861
– – Outlook, new rules likely due to systemic risk, Special Report, 131
– – Registration

See LEGISLATION, FEDERAL, HR 3818

– – Securities and Exchange Commission

– – – Compliance office, internal audit finds no security issues in computer systems, 610
– – – Efficiency measures to be implemented, 246
– – – Jurisdiction, Commissioner seeks, 156; SEC and systemic risk regulator likely to share oversight, 266; Geithner outlines proposals for registration and disclosure, 545; Schapiro says inspection and examination is also required, 806; SEC director favors closing regulatory gap, 866; House to grant powers to SEC, Frank (D-Mass) tells conferees, 904; speakers agree on likelihood of federal intervention, disagree on regulation of funds, 906; Obama plan would require advisers to disclose information to allow SEC to assess systemic risk, 1143; Schapiro questions if registration of advisers is sufficient, may require registration of funds as well, 1152; Analysis and Perspective, 1209; Obama administration sends draft legislation to Congress, 1347

– – Surveys

– – – International support for hedge fund regulation, 1525
– – – Managers view excessive regulation as biggest threat to business, 1360; Donohue faces questions at Am. Bar Ass'n meeting, 1532

– – Systemic risk oversight

– – – Failure, Levitt calls for creation of resolution authority, 1772
– – – Federal Reserve debated as possible regulator, 393; Senate Banking Committee witnesses debate regulator, 450; former Fed chairman objects to Treasury-led council as monitor, 1771; Bernanke supports oversight council, 1814
– – – ICI white paper outlines regulatory framework suggestions, 396
– – – International approach to be explored at G-20 Summit, Obama says, 552
– – – IOSCO releases report and recommendations on hedge fund regulation, 495
– – – Shadow panel warns of moral hazard in “too big to fail” label, 267

– Sham certifications, SEC brings claims against firms and operator (S.D.N.Y.), 271
– Short sales

– – Bankruptcy trustee for scheme may not recover margin security from Bear Stearns (2d Cir.), 1065
– – Restrictions have not achieved market stabilization, hedge fund groups say, 17

– Short-swing profits, preliminary settlement approval with funds in CSX action (S.D.N.Y.), 81
– Solicitation fraud, indictment unsealed against manager on the run (N.D. Ill.), 1178
– Standards, board proposes more stringent best practices, 1300
– Tender offer fraud, funds acting without reliance may not bring claims (7th Cir.), 60
– Touting, assets of fund manager frozen over phony claims and forgeries (N.D. Cal.), 513
– UK, Serious Fraud Office creating warning system, 977
– Warrants, investment adviser settles charges re taking securities without compensation (SEC), 414
– Year in review, Analysis and Perspective, 519