The securities laws are always in flux. Securities investment products grow like topsy. Professional and institutional investors continue to look for whatever “edge” they can find to generate returns. In recent years we’ve seen the biggest Ponzi scheme in history missed by regulators and professional investors alike, increasingly aggressive insider trading enforcement efforts, blossoming judicial skepticism of the traditional SEC enforcement and settlement model, the short-term demise of private securities litigation, new and opaque forms of computerized trading, the import of “social values” into SEC disclosure obligations, and near-annual securities law bombshells from the Supreme Court. There is a mass market for purported exposure of financial market excesses and abuses, and these headline publications often sacrifice accuracy, or choose to skim the surface, to generate media appeal. There is a general war on many of those who successfully, and lawfully, make money in the securities markets. Not much is written about how securities markets, by their nature, flourish by rewarding astute (and lucky) winners and punishing, or diminishing the returns of, less informed or able investors.
Securities Diary will do its best to apply years of securities litigation and enforcement experience to examine these developments from the standpoint of how markets, businesses, and investors actually function, and in doing so, to cut through the fog of media and regulatory hype, and reveal what clothes, if any, the Emperor is truly wearing.
In addition to our own posts, listed in reverse chronological order and through subject matter categories below, we provide links to pertinent articles by subject matter in the menu above. We also provide links to articles about new developments in the securities laws that can be reached through our Breaking News! link. There is a search tool below as well.