In U.S. v. Lay, No. 08-3893 (6th Cir. July 14, 2010), the court upheld an instruction that permitted the jury to find that a hedge fund adviser had a fiduciary relationship with a client. Defendant Mark Lay began serving as …

SIXTH CIRCUIT UPHOLDS CONVICTION OF HEDGE FUND MANAGER Read More »

As SEC Enforcement savors its settlement in Goldman and continues to retool into a new and more aggressive program, Congress is giving it new tools. The Dodd-Frank Wall Street Reform and Consumer Protection Act has a number of provisions which …

DODD-FRANK: NEW AUTHORITY FOR SEC ENFORCEMENT Read More »