SEC Proposes Rules on "Selective Disclosure" and Insider Trading Liability
Sidley Austin LLP
The Securities and Exchange Commission (the "SEC") recently proposed new rules intended to (1) address "the problem.
Goodmans Update: Corporate Securities
of Goodmans LLP
A panel of the Ontario Securities Commission has recently released its unanimous decision in dismissing allegations by OSC Staff of insider trading by Kwok Yuen Ho, the Chairman and Chief Executive Officer of ATI Technologies Inc., and his wife Betty. Three issues that were discussed by the OSC in the ATI decision are relevant to corporate insiders and are worth reviewing.
Court Rejects "Knowing Possession" as Basis for Insider Trading Liability
Deborah R Meshulam of DLA Piper LLP
This article discusses the opinion in SEC v. Adler, 137 F.3d 1325, where the Eleventh Circuit adopted a test requiring the SEC to show that the defendant in an insider trading case used the material nonpublic information when trading.
SEC Selective Disclosure Rules
D. Michael Jones and Jane Whitt Sellers of McGuireWoods LLP
This article reviews the SEC adopted Regulation FD that will require public companies to look at the way they deal with analysts and intuitional investors. In this article, the authors have summarized the scope of Regulation FD, provides a list of frequency asked questions and recommendation to develop corporate policy dealing with the disclosure materials.
SEC Adopts Selective Disclosure Rules and Rules Clarifying Insider Trading Laws
Buchanan Ingersoll & Rooney PC
The Securities and Exchange Commission (SEC) has adopted Regulation FD (for "fair disclosure") to address the issu.
Insider Trading: Information on Bounties
U.S. Securities and Exchange Commission
Pamphlet from the Securities and Exchange Commission designed to provide interested persons with information on insider trader bounties under Section 21A(e) of the Securities Exchange Act of 1934.
New Insider Trading Rules
Dan Bailey, Esq. of Arter & Hadden LLP
This provides a quick look at changes in securities law in different situations.
Insider Trading Liability: "Use v. Possession"
Cadwalader, Wickersham & Taft LLP
ALTHOUGH there is no statute expressly proscribing "insider trading," Sec.10(b) of the Securities Exchange Act of 1.
The Return of Insider Trading
Tower C. Snow, Jr. of Brobeck Phleger & Harrison LLP
This article takes in a in-depth look at insider trading.
SEC Proposes Selective Disclosure Restrictions and Rules Clarifying Insider Trading Laws
Cadwalader, Wickersham & Taft LLP
On December 15, 1999, the Securities Exchange Commission ("SEC") released proposed rules which, if enacted, w.
SEC Clarifies Insider Trading Rules
Faegre & Benson LLP
This article reviews the SEC's release clarifying certain principles of insider trading. In addition, this article summarizes Regulation FD, a new regulation that prohibits public companies from selectively disclosing material information to analysts and institutional investors before making the same disclosures to individual investors and the general public.
Practical Guidance for Compliance with New-SEC Regulation FD
Pepper Hamilton LLP
This paper reviews the guidelines for complying with the new SEC Regulation FD.
Some Rules of the Road for Taking it to The Street: The Impact of Item 12 of Form 8-K and Regulation FD on Quarterly Earnings Announcements and Related Disclosure
Robert P. Whalen and Eric J. Graham of Goodwin Procter LLP
The Securities and Exchange Commission published new rules effective March 28, 2003 that require most public companies to furnish to the SEC on Form 8-K all press releases and other public announcements that contain material nonpublic information concerning results of operations or financial condition for completed quarterly or annual periods.
SEC Charges Siebel Systems, Inc. with Second Violation of Regulation FD and Brings First Case Charging a Violation of Rule Requiring Issuers to Maintain Adequate Disclosure Controls and Procedures
Morrison & Foerster LLP
On June 29, 2004, the Securities and Exchange Commission filed a civil action in Federal District Court against Siebel Systems, Inc., charging that Siebel violated Regulation FD and a prior SEC cease-and-desist order. Regulation FD prohibits issuers from selectively disclosing material nonpublic information to certain persons - including securities analysts, broker-dealers, investment advisers and institutional investors - before disclosing the same information to the public.
Minimizing the Risk of Insider Trading Liability
Karen Y. Bitar of Paul, Hastings, Janofsky & Walker LLP
During the past year, there have been two major developments in the law regarding SEC enforcement actions involving alleged insider trading.