GLG News by SEC Regulations Experts: Lawyers

Orlan JohnsonChairmanSecurities Investor Protection Corporation

Potential Fines and Penalties for Energy Transfer Partners

November 12, 2007

Analysis of:Is Enron Saga Entering The Final Chapter | news.glgroup.com

A clear understanding of this area of the law has become critical  because the risks from noncompliance can subject an entire entity, including upper management, to significant fines ($1 million per day/ per violation), criminal penalties and disgorgement of undue profits.  Many energy entities need to update and in some case create substantive compliance programs to the new powers granted FERC in the Energy Policy Act of 2005.  FERC has recently begun to assess the first round of fines and penalties on entities that it determines are not demonstrating a "culture of compliance." 

Robert HeimPartnerMEYERS & HEIM LLP

SEC Stock Option Backdating Probes Heating Up – Apple Computers the Latest to be Hit by the Backdating Scandal

January 5, 2007

Analysis of:Apple ‘falsified’ files on Jobs’ options | www.ft.com

1. Companies are completing their internal investigations of stock option backdating.

2. Settlements with the SEC and the Department of Justice are likely to be reached in the first quarter of 2007.

Robert HeimPartnerMEYERS & HEIM LLP

Stock Options Backdating Probe is Heating Up

July 27, 2006

Analysis of:Backdating Battle Focuses on Fraud | www.thestreet.com

1. The filing of criminal charges by the Department of Justice and civil charges by the SEC against two former officers of Brocade signals that regulators are ready to begin enforcement actions in the stock option backdating scandal.

2.  The early cases that are filed by regulators will serve as precedent for future actions against those involved in back dating stock options.

3.  The DOJ and SEC probes into stock option back dating still have a long way to go before they are completed.

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