In this Q&A with The Lawbook, Mallett discusses her time at the SEC, the challenges facing the SEC’s Fort Worth Regional Office, the SEC’s expansion of its whistleblower program and the impact on Texas businesses, and other SEC enforcement trends that impact companies and those in the financial investment world.
FW SEC Office Penalizes NY Investment Firm $6.5M for Failure to Preserve Electronic Records
According to an SEC order, employees of Senvest Management, which oversees $3 billion in assets, repeatedly discussed company business in personal texts and other “off-channel” platforms in violation of federal securities laws.
Retired Dallas FBI Agent’s Accomplice in Bizarre ‘Secret Probation’ Scam Gets 70 Months
Joseph DeLeon, who helped former FBI agent Bill Stone cheat a Granbury woman out of more than $750,000, apologized and said he, too, was a victim of the grift. But U.S. District Judge Ada Brown was having none of it.
Fifth Circuit Says Challenge to SEC’s Gag Order Policy is ‘Procedurally Improper’
In a case that presented the court with an issue of first impression, the panel wrote that it would “decline to open that Pandora’s box of frivolous appeals” by exercising jurisdiction in the case. Christopher Novinger had unsuccessfully tried to undo the gag order provision he agreed to in July 2022, and failed again Tuesday.
Come ‘World War or Power Outages,’ SEC’s FWRO Charges 17 in Alleged CryptoFX Fraud Scheme
The U.S. Securities and Exchange Commission filed federal fraud charges Thursday against 17 sales workers with a Houston-based cryptocurrency trading company for allegedly operating a $300 million Ponzi scheme targeting more than 40,000 investors — most of them Latinos.
Narrowing the Scope: The SEC Finalizes Its Climate Disclosures Rule
Following a nearly two-year wait, the Securities and Exchange Commission released its Final Rule — The Enhancement and Standardization of Climate-Related Disclosures for Investors — on March 6. The Final Rule requires publicly listed U.S. companies and foreign private issuers to disclose certain climate-related information in their registration statements and annual reports. This article identifies five key takeaways from the Final Rule.
Top Executives Sentenced for Roles in Kickback Schemes
U.S. District Judge Brantley Starr sentenced former Medoc Health Services Chief Executive Kevin Kuykendall and his wife, former vice president of finance, Sabrina Kuykendall on Wednesday. A poignant moment came from the judge at the conclusion of the hearing, when he addressed the Kuykendalls’ two adult sons who sat in the gallery.
As FW Trial Begins, Tax Preparer Pleads to $2.6M Scam
Federal investigators said Anthony Floyd of Kennedale, Texas, would tweak tax returns he prepared for clients, causing the government to overpay refunds, which he then pocketed.
14 Indicted in Alleged Prescription Kickback Scheme
Ten doctors, two executives and their businesses have been indicted on federal conspiracy charges by a Dallas grand jury for allegedly perpetrating a kickback scheme. At the center of the alleged scheme are two businessmen who were also part of the massive Forest Park Medical Center kickback scheme.
SEC: Houston Man Illegally Used Wife’s Insider Info for $1.76M in Profits
Correction: This story has been updated to correct the spelling of the last name of the man accused of insider trading. The Lawbook regrets the error.
The U.S. Securities and Exchange Commission filed federal insider trading charges Thursday accusing a Houston man with using information he obtained from his wife, who worked in the M&A division at BP, to illegally profit from the British-based oil conglomerate’s $1.3 billion acquisition of TravelCenters of America one year ago.
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