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Title

The Wild World Of Insider Trading: Investment Opportunity or Illegal Behavior?

Event Start Date

Wednesday, October 24, 2012
Joan B. Kroc Institute for Peace & Justice Theatre

Event Start Time

5:15 pm - 7:30 pm

Message

Event Overview

Insider trading prosecutions, both criminal and civil, are on the rise. On June 15, 2012, a jury found Rajat Gupta, a former director at Goldman Sachs and Procter & Gamble, guilty of conspiracy and securities fraud for leaking boardroom secrets to his former friend and business associate, Raj Rajaratnam. Previously, on May 11, 2011, a jury found hedge fund billionaire and Galleon founder Raj Rajaratnam guilty, who is currently serving an 11-year prison sentence, the longest ever imposed in an insider trading case. The number of insider trading civil actions brought by the SEC increased more than 50 percent from 2009 through 2011. Many of these cases involved financial professionals, hedge fund managers, corporate insiders, attorneys, and even government employees who unlawfully traded on material non-public information, all of which undermine the integrity of the capital markets. In April 2012, the SEC announced a settlement in a $32 million insider trading case filed last year against a corporate attorney and a Wall Street trader.

Illegal insider trading is buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about a security. Insider trading violations may also include “tipping” such information, securities trading by the person “tipped,” and securities trading by those who misappropriate such information. The line between what is legal and illegal can be blurry. What might initially appear to be an “investment opportunity” in reality may require illegal conduct to execute.

Distinguished Speakers

Moderator: Mark Anson, Managing Partner, Oak Hill Investment Management, Menlo Park, CA; former President and Executive Director of Investment Services for Nuveen Investments; former Chief Executive Officer of Hermes Pensions Management and British Telecom Pension Scheme, respectively; and former Chief Investment Officer of CalPERS
Attorney Joshua Klein, Co-founder of Petrillo, Klein & Boxer LLP, New York, NY; former Assistant U.S. Attorney for the Southern District of New York where he served as Co-lead Counsel in the investigation and prosecution of Raj Rajaratnam and Galleon, the largest insider trading case in decades; and former Counsel with the Securities and Exchange Commission Enforcement Division
Carol Moody, Esq., Senior Portfolio Manager for CalPERS Investment Compliance and Operational Risk; former Senior Vice President and Chief Risk Officer of Wilmington Trust; former Senior Vice President and Chief Compliance Officer at Nationwide Insurance; former Chief Compliance Officer at TIAA-CREF; and former Head of Compliance for Citicorp’s Global Relationship Bank
Carolyn Miller, Esq., former Chief Legal Officer of Galleon Group, and now Counsel at Goodwin Procter, LLP in New York, NY

Schedule

5:15 p.m. – Reception with food and beverage
6:15 p.m. – Introductory program remarks: Cynthia Richson, co-director of USD School of Law Center for Corporate and Securities Law
7:30 p.m. – Event concludes after program and audience Q & A

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Registration Information

There is no charge to attend the event, but reservations are required.

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MCLE

The University of San Diego School of Law is a State Board of California-approved MCLE provider, and certifies that this event is approved for MCLE credit in the amount of 1.25 hours of general credit.

Review a PDF of the suggested reading material for this event, The Law of Insider Trading: Legal Theories, Common Defenses, and Best Practices for Ensuring Compliance by Bradley J. Bondi and Steven D. Lofchie.

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Location & Directions

Joan B. Kroc Institute for Peace & Justice
Peace & Justice Theatre
University of San Diego
5998 Alcala Park, San Diego CA 92110

From the North	From the South	From the East
> Use I-5 South > Exit Sea World Dr. & Tecolote Rd. > Proceed left at stoplight toward Morena Blvd. > Turn right on Morena Blvd. > Left on Napa > Left on Linda Vista Rd. > Turn left on Marian Way for West Entrance to campus	> Use I-5 North > Exit Morena Blvd. (signs will say: Morena Blvd. use I-8 East) > Stay to the right and follow signs for Morena Blvd. > Take the first right onto Linda Vista Rd. > Turn left on Marian Way for West Entrance to campus	> Use I-8 West > Exit at Morena Blvd. > Go right onto Linda Vista Rd. > Turn left on Marian Way for West Entrance to campus

From all directions, once you enter the west entrance, stop by the parking kiosk for a complimentary visitor permit, then:

Proceed up the hill to the Institute for Peace & Justice, which will be the first building on your right side (across from Mother Rosalie Hill Hall)
Then make a right on Camino Way (first 4-way stop).
Turn right in the first driveway for parking.
After you park, go to the 1st floor.
Check-in is located in the Rotunda.
Campus Map. Look for building #12 on the map.

Mass Transit
For attendees wishing to use mass transit, please be advised that schedules and services are limited; consulting schedules in advance is highly recommended. The most convenient hub is the Old Town Transit Center, which is served by bus, the San Diego Trolley, and the Coaster commuter train. The Old Town station is served by USD shuttle buses.
Click here for USD shuttle bus information.
Click here for Old Town Transit Center information.

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