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Showing posts with label Security and Exchange Commission. Show all posts
Showing posts with label Security and Exchange Commission. Show all posts

Wednesday, July 16, 2014

Executive Beware: The SEC Now Wants To Police Unethical Corporate Conduct

By John Carney and Jenna Felz
Forbes
Originally posted on June 26, 2014


With the appointment of Chairwoman Mary Jo White, President Obama made clear that a tough cop would run the Securities Exchange Commission (SEC) and make enforcement a top priority.  This pro-enforcement, “tough cop,” stance is nothing new to an agency with a storied history of investigating and civilly prosecuting some of the biggest frauds on Wall Street.  But what is new is the Chairwoman’s tactical decision to redeploy significant enforcement resources on small, non-criminal violations.  Chairwoman White underscored the importance of the SEC’s role as “tough cop” especially in cases “when there is no criminal violation,” declaring that the SEC “is the only agency that can play that role.”  These bold statements signal the SEC’s renewed focus on policing not only illegal, but also unethical, conduct.

Thursday, July 26, 2012

Five Doctors Settle SEC Insider Trading Charges

Reuters Health Information
Originally published July 10, 2012

Five doctors have agreed to pay $1.9 million to settle U.S. Securities and Exchange Commission civil charges that they conducted insider trading in shares of a medical professional liability insurer that was preparing to be sold.

The SEC said Apparao Mukkamala routinely tipped the other doctors in 2010 about confidential details of the sale process for American Physicians Capital Inc ("APCapital"), where he had been chairman at the time.

It said the other doctors bought nearly $2.2 million of the East Lansing, Michigan-based company's stock between April 30 and July 7, 2010, based on the tips, and that Mukkamala himself bought shares through a charitable organization where he was president.

The entire story is here.