SEC's new top cop goes on the record; he says lawyers must waive privilege for a good deal
Article Abstract:
Richard Walker, who takes William McLucas's place as SEC Enforcement Div head in 1998, admits that the strong economy has affected SEC ability to attract top legal talent and that agency resources are stretched very thin. Walker states that such factors as recidivism, criminal intent, and civil sanctions' not being effective will influence the referral of a case to criminal prosecutors. Walker speaks in detail on what constitutes cooperation in his division's eyes. highlighting coming in without a subpoena and telling the unvarnished truth.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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SEC general counsel calls it quits
Article Abstract:
On Nov 30 Securities and Exchange Commission General Counsel Simon Lorne tendered his resignation, ending a divisive conflict between his office and that of William R Lucas, Enforcement Division chief. Lorne strongly backed legislation restricting investor class-action lawsuits, while McLucas and Lorne's own staff opposed it. If such legislation is enacted, as now seems likely, the SEC may have to triple its caseload of fraud actions. Longtime Lucas friend Richard H Walker, now a SEC regional head, replaces Lorne.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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The SEC's clairvoyant; he has visions, but his indifference to politics has crippled his influence
Article Abstract:
Steven M.H. Wallman, the SEC Commissioner, would like public companies to implement electronic ways of giving disclosure to investors and his term has been marked by many experimental proposals. These have included replacing transaction-based securities with company registration and a proposal for simplifying the way companies raise their capital. Wallman does not expect renomination as he has neglected cultivating political interests as part of his policy-making duties.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1997
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- Abstracts: Showdown in Senate on tort reform. Back to the start for Senate tort bill. Did tort reform make general aviation take off? A limited products liability law, signed last year, is held up as a model in the debate
- Abstracts: Guarding liberties in new political era: the outgoing president asks lawyers to challenge 'reforms' that curb core rights
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- Abstracts: In some states, holiday parties raise the specter of employer liability for the alcohol-related accidents caused by employees
- Abstracts: Class actions curtailed; but the Senate's version of securities bill has a more moderate 'safe harbor.' House, Senate reach pact on securities bill