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White Collar Watch

JAN 19, 3:47 PM

WHITE COLLAR WATCH

BY PETER J. HENNING
Anthony Chiasson, a co-founder of Level Global, a hedge fund that is said to have made $53 million from illegal trades.

Mike Segar/Reuters
Anthony Chiasson, a co-founder of Level Global, a hedge fund that is said to have made $53 million from illegal trades.

Yet Another Insider Trading Case Begins to Unfold

White Collar Watch examines the next steps in the government’s insider trading case against a “circle of friends” that prosecutors say included a co-founder of the Level Global hedge fund.

Robert Khuzami, the S.E.C.'s enforcement director

Lucas Jackson/Reuters
Robert Khuzami, the S.E.C.’s enforcement director.

In S.E.C.’s Actions, a Hint at a Tougher Stance

In rejecting a proposed settlement with Spencer C. Barasch and requiring admissions in a small number of cases, the agency has taken two small steps toward burnishing its image as Wall Street’s top cop.

Rajat Gupta

John Marshall Mantel for The New York Times
Rajat K. Gupta, left, and his lawyer, Gary Naftalis, leaving court in October after Mr. Gupta was charged with insider trading.

Cat-and-Mouse Game in the Gupta Prosecution

As the insider trading case against Rajat K. Gupta heads toward trial, the prosecution and the defense are each seeking to gain the upper hand.

Potash Corporation investors gained when a buyout bid failed.

David Stobbe/Reuters
Potash Corporation investors gained when a buyout bid failed.

The Outer Limits of Insider Trading

The S.E.C. needs more than suspicious trading patterns to prove an insider trading case and must provide evidence that a trader acted on material nonpublic information.

From left, Rajat K. Gupta, Judge Jed S. Rakoff, Bernard L. Madoff and R. Allen Stanford.

Scott Eells/Bloomberg News, Fred R. Conrad/The New York Times, Stephen Chernin/Getty Images and Aaron M. Sprecher/Bloomberg News
From left, Rajat K. Gupta, Judge Jed S. Rakoff, Bernard L. Madoff and R. Allen Stanford.

What to Expect in White-Collar Crimes in 2012

At the precipice of 2012, White Collar Watch looks at some of the trends in criminal and civil enforcement cases that will continue in the next year.

Richard Syron, left, and Daniel Mudd before a House panel in 2008.

Chip Somodevilla/Getty Images
Richard F. Syron, left, and Daniel H. Mudd before a House panel in 2008.

Closer Look at S.E.C.’s Mortgage Fraud Charges

The fraud charges filed by the Securities and Exchange Commission against six former executives of Fannie Mae and Freddie Mac created a big splash, but a number of questions remain.

Barack Obama

Charlie Riedel/Associated Press
President Obama called last week for tougher penalties for corporate crime.

The Limits of Bigger Penalties in Fighting Financial Crime

White Collar Watch questions whether even tougher penalties for corporate crime would help to discourage it.

Jon S. Corzine, MF Global's former chief executive, testifying at a House hearing into the collapse of the firm.

Michael Reynolds/European Pressphoto Agency
Jon S. Corzine, MF Global’s former chief executive, testifying at a House hearing into the collapse of the firm.

Corzine’s Testimony Came With Plenty of Caveats

MF Global’s former chief executive, Jon S. Corzine, was gingerly questioned by the House Agriculture Committee for almost three hours on Thursday, in the end saying little enlightening about the firm’s collapse or missing customer money.

Jon S. Corzine, the former chief of MF Global.

Pool photo by Andrew Harrer
Jon S. Corzine, the former chief of MF Global.

10 Questions for Jon Corzine

If the former chief executive of MF Global does not invoke his Fifth Amendment right before the House Agriculture Committee, there will be many issues worth discussing.

Mary Schapiro

Joshua Roberts/Bloomberg News
Mary L. Schapiro

S.E.C. Seeks More Power, but Does It Need It?

Mary L. Schapiro, the S.E.C. chairwoman, wants her agency to be able to seek higher penalties in administrative proceedings, a move that may allow it to avoid having to pursue its cases in federal courts.

Jed Rakoff

Fred R. Conrad/The New York Times
Judge Jed S. Rakoff of Federal District Court in Manhattan.

Behind Rakoff’s Rejection of Citigroup Settlement

As he did with Bank of America, Judge Jed S. Rakoff wants Citigroup to take more responsibility for the “truth” of its wrongdoing in its settlement with the S.E.C.

Jon S. Corzine on the trading floor of MF Global last year.

David Goldman for The New York Times
Jon S. Corzine on the trading floor of MF Global last year.

Widening Hunt for Details of MF Global’s Collapse

Jon S. Corzine, the firm’s former chief, has been asked to appear at two Congressional hearings. Meanwhile, the appointment of Louis J. Freeh, the former F.B.I. director, as an MF Global trustee may open up more information.

Speaker John A. Boehner was questioned by "60 Minutes" about stock trading.

Win McNamee/Getty Images
Speaker John A. Boehner was questioned by “60 Minutes” about stock trading.

Murky Signals for Congress on Insider Trading

White Collar Watch examines proposals to tighten up restrictions on securities trading based on information gleaned from Capitol Hill.

Jon S. Corzine on the trading floor of MF Global last year.

David Goldman for The New York Times
Jon S. Corzine on the trading floor of MF Global last year.

MF Global and the Problems With Murky Accounting

The collapse of MF Global, brought on by its exposure to $6.3 billion of European sovereign debt, shows how easy it is to obscure risky investments and the pitfalls that occur when those problems surface.

Jon Corzine

Lucas Jackson/Reuters
Jon S. Corzine, the former chief executive of MF Global.

One Option for Corzine in MF Global Inquiry: the Fifth Amendment

Jon S. Corzine and other executives from MF Global will have to decide whether to talk early in the investigation of the firm’s collapse or wait until later when the legal issues are clearer.

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