Daily Update from Securities Docket

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• Securities Docket News Wire for Oct. 15, 2010
• Where To Next for the Supreme Court?
• Should Congress Be Subject to Insider Trading Rules?
• Groundhog Day: The Congressional Insider Trading Cycle

Securities Docket News Wire for Oct. 15, 2010 Posted: 15 Oct 2010 04:30 AM PDT Panalpina, Shell Near Settlement in Bribery Case http://p2.to/ZdY # Watergate-Era Law (FCPA) Revitalized in Pursuit of Corporate Corruption http://p2.to/ZdX # Mozilo, SEC Talk Settlement in Countrywide Case http://p2.to/ZdW # More Indicted In Spongetech Fraud http://p2.to/ZdV # 2nd Circuit Recognizes Firm’s Contribution, but Rebuffs $17 Million Fee Request http://p2.to/ZdU #

Where To Next for the Supreme Court? Posted: 14 Oct 2010 12:55 PM PDT From The 10b-5 Daily: As the U.S. Supreme Court begins its October term, a securities litigator’s fancy naturally turns to what cases the court might take next. A leading indicator is cert petitions where the Court has asked the government to provide its input. On Monday, the Court made this request in two separate cases: Halliburton (5th Cir.) and Omnicare (6th Cir.). Read more from “Where to Next”

Should Congress Be Subject to Insider Trading Rules? Posted: 14 Oct 2010 12:48 PM PDT From The Atlantic: Salmon’s point is well-taken. Despite WSJ’s effort, it doesn’t appear to have identified a mountain of evidence that Congressional staffers have been taking advantage of their insider knowledge. He said he would be fine with legislation to prevent it, but doesn’t see a scandal here. But so what? Whether there’s a true scandal here or not doesn’t change the fact rogue staffers could profit in this way, and they shouldn’t be permitted to. For example, if dog fighting rings were exceedingly rare, that doesn’t mean it would be okay if they were legal. You don’t need a gigantic scandal involving a famed NFL quarterback to create a law against dog fighting. Read more from “Should Congress Be Subject to Insider Trading Rules?”

Groundhog Day: The Congressional Insider Trading Cycle Posted: 14 Oct 2010 12:31 PM PDT From Compliance Week’s Enforcement Action: Oh, dear, we we go again. Since 2006, the circular story line on "Congressional insider trading" has repeated itself numerous times….  The October 2010 version of this story, however, has one new twist. According to the WSJ, Rep. Baird appears to be losing faith in his ability to get the STOCK Act passed, and has moved on to Plan B. Read more from “Groundhog Day: The Congressional Insider Trading Cycle”

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