Insider Trading and Political Intelligence: How to Stay on the Right Side of a Very Gray Line
At the same time, the STOCK Act of 2012 now applies insider trading laws to congressional members and their staff, and the U.S. Securities and Exchange Commission has begun a high-profile investigation of a congressional staffer under the Act.
In addition, the Second Circuit’s recent decision in United States v. Newman has fundamentally altered the playing field for insider trading prosecutions. Our experienced panel, including a former congressman, will help you wade through these shifting sands and address the following questions:
- What, exactly, is “non-public” information when it comes from the halls of Congress rather than private industry?
- What type of “personal benefit” must a tipper of political intelligence receive in order to trigger insider trading liability?
- What is the significance for fund, investment advisor, financial institution, and other company compliance programs?
Foley Partners Beth I.Z. Boland and Jonathan N. Halpern and former Congressman Dennis A. Cardoza invite you to attend a web conference discussing the role of political intelligence and insider trading.
Hon. Dennis A. Cardoza is a former congressman from California’s 18th District and currently serves as public affairs director, co-chair of the Federal Public Affairs Practice, and chair of the California Public Affairs Practice of Foley & Lardner LLP. He advises a broad range of clients on legislative, regulatory, and public policy and advocacy matters, and has extensive policy experience with respect to water resource, banking, housing, infrastructure, energy, agriculture, education, foreign affairs, and health care issues. Prior to joining Foley, Mr. Cardoza served five terms in the U.S. House of Representatives. His committee roles included serving four years on the powerful House Rules Committee, while he was also a key member of the House Democratic Leadership Team.
Beth I.Z. Boland is chair of the firm’s Securities Enforcement & Litigation Practice. Recently named one of the most “influential” attorneys in the Commonwealth by Massachusetts Lawyers Weekly, Ms. Boland regularly represents corporations and institutional investors in connection with insider trading issues, accounting fraud, corporate control issues, and derivative actions. Earlier in her career, Ms. Boland served as a clerk in the U.S. District Court for the Southern District of New York and worked on the Ivan Boesky and Michael Milken insider trading litigations. Since 2013, Chambers USA has named Ms. Boland as a leading lawyer in securities litigation.
Jonathan N. Halpern leads the Government Enforcement, Compliance & White Collar Defense Practice in its New York office and is a former federal prosecutor in the Southern District of New York (SDNY), where he was chief of the Major Crimes Unit. Mr. Halpern counsels and defends corporate and individual clients in a wide array of criminal and regulatory matters, including allegations of insider trading and other securities law violations. Mr. Halpern has been recognized by The Best Lawyers in America© for Criminal Defense: White Collar (2013 – 2015) and received the U.S. Department of Justice Director’s Award for Superior Performance, while he served as a prosecutor in the SDNY.
This web conference is complimentary, but advance registration is required. If you have any questions, please contact John Vicars at [email protected] or 312.832.5122.
Foley & Lardner LLP will apply for CLE credit after the program, wherever applicable. Foley & Lardner LLP certifies that this activity has been approved for California MCLE credits by the State Bar of California in the amount of one General credit. Foley & Lardner LLP is a State Bar of California MCLE approved provider. Please note that participants must log in to the Web portion on the date of the event and answer the CLE polling question; credit may not be obtained by viewing and/or listening to a program recording after the event.
