U.S. Securities and Exchange Commission News

Q&A: Liability Insurance Implication for Admitting Wrongdoing in SEC Settlements

Earlier this year, the U.S. Securities and Exchange Commission reached a settlement with New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners. The agreement was the first to require a defendant to admit wrongdoing …

New York Bans Fund Manager Falcone From Insurance Unit

Hedge fund manager Philip Falcone, banned from the securities industry for five years by U.S. regulators, is also being banned for seven years from decision-making roles at Fidelity & Guaranty Life Insurance, a unit of his firm, New York officials …

IPO-Seeking China Companies Pay More to Avoid Boards Going Naked

Stephen Markscheid holds one of the riskiest jobs in the world — or so say directors and officers liability insurers. The 59-year-old former banker, a Mandarin-speaking American, sits on the boards of five U.S.-listed Chinese companies, including Jinko Solar Holding …

Former Colorado Insurance Exec Guilty Of Securities Fraud

Former insurance executive Michael Van Gilder has pleaded guilty to securities fraud in an insider-trading case connected to billionaire Kirk Kerkorian’s 2008 investment in Denver-based Delta Petroleum. According to the Denver Post, Van Gilder admitted Wednesday he traded on details …