Tagged: Madoff

SEC cracking down on insider trading

After fumbling the probe into Bernie Madoff’s multibillion-dollar fraud, the Securities and Exchange Commission reportedly is ramping up insider-trading investigations.  Law Professor Elizabeth Nowicki, a former SEC and Wall Street attorney, says traders at hedge funds, investment banks, and brokerages should beware. “The SEC has finally aggressively asserted itself — in what appears to be […]

Bounty for financial fraud whistleblowers?

The inspector general probing the SEC’s failure to discover Bernard Madoff’s $65 billion Ponzi scheme recommends that whistleblowers should be paid a bounty for information about financial fraud.  School of Law Professor Tamar Frankel, an authority on securities law, says such rewards would be a two-edged sword and probably limited to outsiders (insiders thereafter couldn’t […]

Madoff probe targets wealthy clients

Reports say investigators into Bernard Madoff’s alleged “Ponzi scheme” are looking at some of his wealthy clients who may have known that the returns on their investments were unrealistically high.  School of Law Professor Tamar Frankel, a securities law expert and Israeli native, says this would violate both securities law and Jewish law. “Jewish law […]

Madoff musings

Journalism Professor Mitchell Zuckoff, author of “Ponzi’s Scheme: The True Story of a Financial Legend,” says in a New York Times blog that Bernard Madoff has become an emblem of a bad financial era. “Once in a rare while, a financial fraud is so audacious and extraordinary, yet so in tune with larger societal forces and […]

Madoff pleading guilty

Law Professor Tamar Frankel, an authority on securities law and legal ethics who is writing a book on Ponzi schemes, says Bernard Madoff is smart to plead guilty. “It seems that Madoff’s strategy is to confess, shorten all proceedings as much as possible, avoid jury trial almost at all costs, perhaps serve some time in prison […]

SEC to bolster whistle-blower policy

Law Professor Tamar Frankel, an authority on securities law and legal ethics, says the SEC’s plan to revamp its whistle-blower policies in light of the Madoff affair also should incorporate other market “signals” of wrongdoing. “Regulators should pay close attention not only the whistle blowers but also other signals of foul play.  When the promises of a money […]