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To: scion who wrote (21869)	4/6/2012 11:06:09 AM
From: scion	Respond to of 53574

THIS WEEK IN SECURITIES LITIGATION (Week ending April 6, 2012) April 05, 2012 secactions.com At the start of the second quarter the focus was on the White House where two pieces of securities litigation were signed into law by the President. First, the STOCK Act, prohibiting the already illegal insider trading by Congress was signed. Later in the week the President signed the JOBS Act which is intended to facilitate raising money by small companies by adopting provisions which deregulates portions of the initial offering process for smaller companies, raises the ceiling for Exchange Act reporting, lifts certain restrictions on the sale of private placement share, pulls back portions of the consent decrees in the analysts cases and contains crowdfunding provisions. The SEC brought another SOX 304 strict liability clawback cases against a CEO and CFO who had no involvement in the underlying financial fraud. The CFTC brought two significant enforcement cases. One was brought against the Royal Bank of Canada alleging millions of dollars in wash sales – a claim denied by the bank. The second is a settled action against JPMorgan for violating the customer segregation rules regarding Lehman clients before and after the firm collapsed. Finally, the OECD made available a report on UK corruption enforcement. While the report was complementary to the increased enforcement efforts it also contains a number of recommendations for improvements in the future. [...] more secactions.com

To: scion who wrote (21869)	4/6/2012 11:44:31 AM
From: jaxstraw	Read Replies (1) \| Respond to of 53574

The thing is that discovery in this case will be a very one sided affair, in favor of the SEC, as far a exploratory fishing. While JBII counsel will certainly participate, they really can't go after a fishing expedition on the SEC that is not case related. But on the other hand, the SEC will be given the wide latitude that is the standard of all discovery requests pertaining to just about everything related to JBII and it's directors, associates and their affairs. Both public and private. .