Dusting Off SEC Cooperation Rules For Individuals

Law360, New York (July 1, 2009, 12:00 AM EDT) -- Section 3.3.5.3.1. of the U.S. Securities and Exchange Commission's Enforcement Manual allows enforcement staff, with commission approval, to reward a cooperating witness with forbearance of all charges for providing useful information, testimony and documents.[1]

Until now, this provision of the manual has been largely dormant; typically, only organizations receive cooperation credit from the commission and only in the context of the Seaboard Order.[2]

However, with the appointment of one former Southern District prosecutor to head the SEC’s Enforcement Division and another its New York regional office,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.