SECURITIES LAW
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Ex-Goldman Sachs director charged with insider trading
October 26, 2012
On October 26, 2011, former Goldman Sachs director Rajat Gupta was arrested for securities fraud and conspiracy to commit securities fraud. The US Securities and Exchange Commission (SEC) claimed that Gupta disclosed non-public materials from board meetings to the co-founder of the Galleon Group, Ra....... [more]

Federal judge blocks congressional insider trading law
September 14, 2012
A judge for the US District Court for the District of Maryland on Thursday blocked the enactment of the Stop Insider Trading on Congressional Knowledge Act (STOCK Act). Judge Alexander Williams, Jr. granted the plaintiffs' motion for a temporary preliminary injunction against the STOCK Act, which w....... [more]

UN rights chief urges Venezuela to stay in human rights court
September 12, 2012
UN High Commissioner for Human Rights Navi Pillay urged Venezuela on Tuesday to re-commit to the American Convention on Human Rights, the treaty that empowers the Inter-American Court of Human Rights (IACHR). Venezuela, under the edict of President Hugo Chavez, withdrew from the court in July, bu....... [more]

Federal judge allows suit against SEC over Stanford Ponzi scheme
September 10, 2012
A judge for the US District Court for the District of Southern of Florida ruled Friday that a suit against the Securities Exchange Commission (SEC) over the agency's failure to report Allen Stanford and his Ponzi scheme may proceed. The suit alleges that the SEC had identified that Stanford was runn....... [more]

Wells Fargo reaches $6.5 million settlement with SEC over risky mortgages
August 14, 2012
The US Securities and Exchange Commission (SEC) announced Tuesday that Wells Fargo will pay a $6.5 million fine for improperly selling high-risk mortgage securities to investors during the housing market crash in 2007. The SEC claimed that Wells Fargo did not adequately inform investors of the risk....... [more]

Venezuela high court upheld corruption blacklist
August 5, 2012
On August 5, 2008, the Venezuelan Supreme Court upheld a list blocking 272 political candidates from running for office because of suspected corruption. Opponents alleged that many of the names on the list were opponents of President Hugo Chavez. His opposition had previously accused Chavez of pushi....... [more]

SEC charged GE with fraud
August 4, 2012
On August 4, 2009, the US Securities and Exchange Commission (SEC) filed fraud charges against General Electric Co. (GE), resulting in GE agreeing to pay a $50 million settlement. The SEC accused GE of misleading investors by reporting false and misleading information in its financial statements. GE....... [more]

Tenth Circuit ruled ex-Qwest CEO Nacchio improperly sentenced
July 31, 2012
On July 31, 2009, the US Court of Appeals for the Tenth Circuit ruled that Joseph Nacchio, former CEO of Qwest Communications, was incorrectly sentenced, due to flawed methodology, to a six year prison sentence. Nacchio was convicted of insider trading for approximately $28 million in net profits, a....... [more]

Venezuela announced release of 40 percent of prisoners to reduce overcrowding
July 31, 2012
On July 31, 2011, Venezuelan Minister of Prisons Iris Varela announced plans to release up to 40 percent of the country's prisoners in order to reduce overcrowding. Other countries have implemented similar measures, including Bangladesh, which released inmates in June 2008 and August 2010. In June 2....... [more]

Federal court grants emergency order freezing trader assets in SEC case
July 29, 2012
The US District Court for the Southern District of New York granted an emergency order Friday freezing the assets of traders operating in Hong Kong and Singapore. The Securities and Exchange Commission (SEC) is accusing the brokers of insider trading related to the July 23 acquisition of Cana....... [more]

Venezuela withdraws from human rights court
July 25, 2012
Venezuelan President Hugo Chavez on Tuesday announced that the country would withdraw from the Inter-American Court of Human Rights (IACHR). In a statement during a military ceremony, Chavez announced the withdrawal and criticized the regional court, saying it is not fit to be called a human right....... [more]




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