Series: SEC Enforcement Program 2007, Projecting Trends and Key Issues (Part IV)
The next several segments of our series on SEC enforcement trends will examine significant cases in key areas from 2006. Specifically, we will analyze cases concerning:
· Backdated Options
· Hedge Funds
· Insider Trading
· Financial Fraud
· Market Timing
· Trading Practices
· Gate Keepers
In our analysis we will tie significant cases in these areas from 2005 to inquiries and actions being currently brought by the Enforcement Division to project trends for 2007 and beyond. Identification of those trends will give companies the opportunity to examine key compliance programs and take other necessary precautions to ensure compliance and avoid liability. At the same time, it may also serve as a caution to those facing expanding liability, such as, directors, in-house and outside counsel, auditors and consultants. Identification of these trends should also aid those dealing with an SEC investigation or enforcement action, and a parallel inquiry or action being brought by DOJ or the AUSA, and facilitate its resolution.
Next: Backdated stock options: A rapidly expanding area.