A genius adviser, but not a broker? SEC consent decree limits role in new deals to that of door-opener
Article Abstract:
The SEC is investigating possible violation by Michael Milken of his lifetime ban from the securities industry with his consulting work on mergers and acquisitions deals. If Milken is deemed to be what John Polanin, Jr., a former SEC counsel, calls a 'finder,' he would be exempt from registration as a securities professional. SEC standards exist to protect the public, however, and people of the wealth that Milken deals with may be sophisticated enough that they do not need protection. Martin A. Siegel, another veteran of the Drexel, Burnham and Lambert scandals, also may have violated his ban on securities industry participation.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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Inside trading is still big, but traders 'average Joes'; the SEC brought a record 45 insider trading cases in 1994, but few of them involved market professionals
Article Abstract:
The Securities and Exchange Commission continues to pursue insider-trading cases, bringing a record 45 in 1994, but the targets are no longer the Wall Street titans of the 1980s. Most of the accused are now less sophisticated investors who happen across a route to inside information, as was former bar owner Robert Flanagan of Hicksville, NY. Lawyers who defend in such cases say 90% of their clients are now from Main Street, not Wall Street, and that they often make Flanagan's error of talking to the SEC without counsel.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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N.Y.'s SEC targets insider trading in bankruptcy debt
Article Abstract:
The SEC's New York office is thought to be investigating several instances of a new kind of insider trading, members of creditors' committees using information gained in bankruptcy actions for personal gain. The SEC's Richard Walker states that insider trading cases are easier to prosecute in the bankruptcy arena because of the fiduciary duties that exist in this situation are different from other securities duties.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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- Abstracts: Gifts made under a durable power of attorney were held includable in estate. Gifts made under a durable power of attorney are ruled revocable
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- Abstracts: When admissibility is the issue. Making evidence: how a lawyer presents the available facts is crucial to a case