The SEC charged a divisional merchandise manager at a department store with assisting financial fraud. According to the SEC, the scheme caused a public company to materially misstate its net income and expenses in several financial reporting periods between 2004 and 2009. View complaint in full here (links externally to SEC website). See also: Press Release.

The SEC charged a former senior executive at a Silicon Valley technology company for illegally tipping Raj Rajaratnam with non-public information. View complaint in full here (links externally to SEC website). See also: Press Release.

On October 24, 2012, the Internal Revenue Service issued Announcement 2012-42, which (i) delays withholding on gross proceeds under the "Foreign Account Tax Compliance Act" ("FATCA") provisions until 2017, (ii) extends the deadlines under FATCA for completing due diligence with respect to counterparties and financial account holders to conform to the deadlines set forth in the Model Intergovernmental Agreements released in August, and (iii) expands the grandfathering exemption for several instruments. In particular, under the Announcement, obligations that give rise only to foreign-source

Final rule; delay of effective date of amendments to Regulation D adopted by the Board of Governors of the Federal Reserve System.

The SEC charged an insurance company CEO with insider trading based on confidential information he obtained in advance of a private investment firm acquiring a stake in an oil and gas company. View complaint in full here (links externally to SEC website).