Should The SEC Ask What Would Blackstone Do?

The Securities and Exchange Commission recently trumpeted its enforcement successes for its 2014 fiscal year.  For an agency dedicated to full disclosure, there were some notable omissions, including: A California federal jury verdict finding the former Chief Executive Officer of STEC, Inc. innocent of insider trading; A New York federal jury verdict finding hedge fund

This International Shoe Doesn’t Fit: Subsidiary May Not Be Parent’s Agent

Is a wholly-owned subsidiary per se an agent of the parent?  In an opinion issued yesterday, the Nevada Supreme Court answered “not necessarily”.  The legal issue was whether the German parent of a Delaware corporation doing business in Nevada was subject to the jurisdiction of the Nevada courts.  Viega GMBH v. Eighth Judicial Dist. Court, 130

Court Holds That Same Attorney May Advocate Before The ALJ and Agency Head

The Department of Corporations, like many state and federal agencies, does not observe a strict separation of powers.  Indeed, the Department performs quasi-legislative functions in the form of rule making, prosecutorial (executive) functions in the form of investigation and advocacy and quasi-adjudicative functions in the form of making decisions.  The combination of prosecutorial and adjudicative functions within a single agency is

Californians Like To Whistle While They Work

California Ranked No. 1! The staff at the Securities and Exchange Commission recently released the 2012 Annual Report on the Dodd-Frank Whistleblower Program.  It turns out that California leads the other states in terms of the number of tips received.   According to the report, California accounted for 17.4% of all tips received.  The next highest ranking state,