Information About Risk Management & Crisis Response
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- Second Circuit upholds insider trading conviction in Gupta v. United States
In a decision released last week, the Second Circuit Court of Appeals in Gupta v. United States upheld the insider trading conviction of former banker Rajat Gupta, rejecting Gupta’s argument that the jury instructions given by U.S. prosecutors did not meet the “personal benefit” standard set by the … Read more »
- Individual defendant receives three-year sentence for Canadian corruption conviction
On December 17th, 2018, Quebec’s Superior Court of Justice sentenced Yanaï Elbaz, a former senior manager of the McGill University Health Centre (MUHC), to a three-year prison term for his involvement in a bribery scheme in which SNC-Lavalin secured a $1.3 billion contract to build MUHC. The trial a … Read more »
- OSC approves $30 million settlement with Katanga over financial misstatements and failure to disclose DRC risks
Reflecting the trend toward increasing monetary penalties, the Ontario Securities Commission (the “OSC”) accepted an eye-popping $30 million settlement payment in the Katanga Mining Limited (“Katanga”) matter. On December 18, 2018, an OSC Panel approved a settlement with Katanga concerning misstatem … Read more »
- Recent initial coin offerings settlements show broadening SEC enforcement campaign
A series of recently announced settlements relating to initial coin offerings (ICOs) show the continuing efforts of the U.S. Securities and Exchange Commission (SEC) to take enforcement action in relation to ICOs that do not comply with securities laws. Under two settlements with companies that cond … Read more »
- Alberta Securities Commission implements whistleblower program
On November 20, 2018, the Alberta Securities Commission (ASC) announced the creation of its whistleblower program and the Office of the Whistleblower (OWB). The program is implemented through the adoption ASC Policy 15-602 Whistleblower Program and accompanying amendments to the Securities Act (Albe … Read more »
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