CANCELLED - Putting Faces On The Cases In Securities Law

CANCELLED - Putting Faces On The Cases In Securities Law
Putting Faces On The Cases In Securities Law: Todd Newman, Tom Harden ("Tipper X") and Nick Leeson Talk About Their Landmark Cases
2 NY Credits: 1 Ethics; 1 PP; 2 NJ Credits: 1 Ethics; 1 General

Program Co-sponsor: NYCLA’s Center for Corporate Governance

Moderator: Gregory Markel, Seyfarth Shaw LLP, Chair NYCLA’s Center for Corporate Governance

Faculty: Tom Hardin, mystery FBI informer ("Tipper X") in Galleon Insider Trading Case; Nick Leeson, trader at Baring Bank whose rogue trading accounts led to the insolvency of the bank and his criminal conviction;  Todd Newman, former hedge fund portfolio manager, Diamondback Capital and Defendant in 2d Cir. Newman decision;  Walt Pavlo, Contributor on federal criminal cases for and New York University Law Schools Program on Corporate Compliance and Enforcement

Join the  Chair of NYCLA’s Center for Corporate Governance Greg Markel, as he moderates a discussion by key figures who were at the center of historic securities cases --  Todd Newman (The Newman Decision on insider trading), Tom Harden ("Tipper X," mystery FBU informer) and Nick Leeson (former trader at Barings Bank).  This candid conversation will provide little known facts about these cases from the people who were at the center of them, including  their experiences, perspectives and insights.

The discussion will focus on:

•           Firsthand accounts of the historic cases

•           Insights into compliance programs within their organizations (policies and reaction to crisis)

•           The collateral consequences of a criminal cases

•           Legal risk exposure of those who work in the finance industry

•           Insights into the criminal justice system from defendants’ perspective

•           Opportunities that exist inside organizations where fraud occurs

•           Challenges facing compliance professionals in today’s regulatory environment

•           Understanding the scope of criminal investigations

Todd Newman was a successful hedge fund portfolio manager at Diamondback Capital based in Stamford, CT.  In November 2010, Diamondback was raided by FBI agents as part of Operation Perfect Hedge and Newman became the focus of their investigation after a group of rogue analysts cooperated against him.  Newman would be indicted, convicted and sentenced to 54 months in federal prison.  Allowed to remain free pending appeal to the 2nd Circuit, Newman worked diligently with his attorneys and in December 2015 his conviction was overturned in what is now known as The Newman Decision. 

Tom Hardin  was a hedge fund analyst who went from making millions to becoming a government informant in one of the most well-known crackdowns on insider trading, “Operation Perfect Hedge.”  It is one of the biggest mysteries on Wall Street: Who is Tipper X, the secret witness at the center of the biggest insider-trading case in a generation?  The answer was Thomas Hardin — a young investment analyst who, the authorities claim, traded on inside information and ledprosecutors to other crucial players in the sprawling investigation into the billionaire Raj Rajarantnam and his hedge fund, the Galleon Group.According to the S.E.C., Mr. Hardin traded on confidential information while at Lanexa and passed information to another figure in the Galleon case, Gautham Shankar, a former trader at the Schottenfeld Group.  Mr. Hardin’s supposedly illicit trades involved the pending takeover of Hilton Hotels and Kronos Inc., a software company in Massachusetts, according to the S.E.C. Mr. Shankar, whom the authorities characterize as a friend of Mr. Hardin’s, later admitted trading on inside information about that deal.

Nick Leeson, through rogue trading accounts, accumulated over $1.3 billion in trading losses while working at Barings Bank (Singapore Office) in 1995.  In what became an international story, the 233 year old Barings become insolvent and soon after the fraudulent trades were discovered Leeson disappeared.  A global manhunt began for the trader that brought down the storied bank.  Leeson would be arrested in Frankfurt Germany and extradited to Singapore where he would plead guilty to his crimes.  He was sentenced to 7 years in prison and has since returned to his home in the UK. Leeson's story was portrayed in the movie “Rogue Trader” starring Ewan McGregor.

5/9/2018 6:00 PM - 5/9/2018 8:00 PM
14 Vesey St 2nd Floor Auditorium New York 10007

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