Trading in Opaque Markets: False Statements, Materiality and Securities Fraud

Program Number: 2736

Program Date: 08/15/2017

Description

The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have brought four cases charging six traders from two major firms with fraud. The actions are all similar, claiming that the traders made multiple misrepresentations when dealing with counter parties in either the residential mortgage-backed securities (RMBS) or commercial mortgage backed securities (CMBS) markets. The misrepresentations are detailed in electronic communications. Two criminal cases have, however, ended largely in acquittals. Yet the government continues. In this program, Tom Gorman critically examines these cases, distilling important lessons for trading houses and their compliance professionals while pointing to a likely area of future focus for the SEC inspection program.

$95.00Audio CD Add to Cart $95.00Online Audio Add to Cart

Available in states

California, Colorado Eligible, Florida, Georgia, New Jersey Eligible, New York, New York - BOTH New and Experienced Attorneys, Texas Self Study

Credit Information

50 minute credit hour - 1.0 General CLE credit, based on a 50-minute credit hour
60 minute credit hour - 1.0 General CLE credit, based on a 60-minute credit hour

State Program Numbers

Credit Eligible for BOTH New and Experienced Attorneys in NY

Presenters


Thomas O. Gorman, Esq.

Dorsey & Whitney LLP

Thomas O. Gorman, Esq. is a partner in the Washington, D.C. office of Dorsey & Whitney LLP. Mr. Gorman, whose practice involves a wide range of civil and criminal securities and business litigation matters, including conducting internal corporate investigations, defending public companies and individuals in SEC and DOJ investigations, and defending securities class action and derivative suits, is Co-chair of the ABA White Collar Crime Securities Section, and a former member of the staff of the Securities and Exchange Commission's Enforcement Division and Office of the General Counsel. He is a frequent speaker and author of articles regarding securities litigation topics and publishes a blog (www.SECActions.com), which comments on trends and current events in SEC and DOJ securities enforcement investigations and actions. Among his other honors, and those awarded for his blog, he has been selected since 2007 for inclusion in Super Lawyers in the area of securities litigation and Washington Business Journal previously recognized him as one of the five top lawyers in Washington, D.C.

 

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