Key Recent Developments In White Collar Law

We are now in a comment period regarding some proposed changes in the sentencing guidelines, with the definition of a couple of loaded terms – “intended loss” and “sophisticated means” – on the table. This is among a number of key developments and precedents summarized in the February “White Collar Roundup” from Day Pitney. Others include the SEC’s recent statement of its examination priorities for 2015, and a Third Circuit decision that said a Supreme Court ruling – that U.S. securities law liability does not apply to wholly foreign securities transactions – actually does apply if a U.S. market maker is involved. With that holding the conviction of the defendant in a “pump-and-dump” scheme was affirmed.