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When Parallel Tracks Cross: Applying The New Insider Trading Regulations Under Dodd-Frank Derails, Gregory J. Melus
When Parallel Tracks Cross: Applying The New Insider Trading Regulations Under Dodd-Frank Derails, Gregory J. Melus
Gregory J Melus
Abstract: When Parallel Tracks Cross: Applying the New Insider Trading Regulations under Dodd-Frank Derails On March 11, 2011, the U.S. Securities and Exchange Commission (SEC) brought an administrative proceeding against former Goldman Sachs Director, Rajat Gupta for participating in the insider trading scheme of Raj Rajaratnam. The complaint was the first application of the SEC’s expanded authority under the Dodd-Frank Act to charge an unregistered entity for securities violations in an SEC enforcement hearing. This Comment argues that bringing an SEC administrative proceeding against Rajat Gupta would not succeed because the retroactive application of the Dodd-Frank law would fail the …