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Takeaways for In-House Counsel from the SEC’s “Shadow Insider Trading” Trial

JD Supra: Mergers

On April 5, 2024, a jury in California federal court found a former corporate executive liable for insider trading in SEC v. Panuwat, a novel enforcement action involving a theory known as “shadow trading.” In Panuwat, the U.S. By: Morrison & Foerster LLP

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Bank of England and FCA to launch joint Digital Securities Sandbox

The TRADE

Examples of financial instruments which could be issued and traded in the DSS include equities, corporate and government bonds, and money market instruments.

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SPAC Trend Gives Rise to Securities Enforcement and Litigation Risks

Cooley M&A

In light of the trend, the US Securities Exchange Commission’s Division of Corporation Finance recently issued SPAC disclosure guidance. The combined company benefits from the target’s operations and the liquidity of the SPAC’s publicly traded securities.

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Certificate of Deposit (CD)

Wall Street Mojo

Some of these are banks, NBFCs, investment companies, brokerage firms, insurance companies and trust corporations. Also referred to as an aftermarket, it allows investors to trade securities freely without interference from those who issue them. Bond Governments, municipalities, or corporations can issue it.

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The SEC’s equities overhaul: Necessary plumbing changes or a liquidity drain?

The TRADE

“Proposals to reduce and harmonise tick sizes across exchanges and off-exchange venues make sense but must be appropriately calibrated to prevent any adverse impact on price discovery and lit liquidity,” says Edward Monrad, head of corporate strategy at Optiver.

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The 20 greatest trading innovations

The TRADE

Tradeweb launched its all-to-all corporate bond trading functionality in 2017. Rival fixed income trading venue Bloomberg launched its global all-to-all bond trading service in 2022. However, first off the bat was MarketAxess which launched its Open Trading all-to-all trading environment in 2012.

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