Categories
Classroom Insiders

Classroom Insiders, Season 2 – Exploring the Complexities of SEC vs. OBIS and the Misappropriate Theory

Welcome to Season 2 of Classroom Insiders, a podcast with Professor Karen Woody and her Insider Trading Seminar students from Washington and Lee University. They explore the arc and evolution of insider trading over the last century. Each episode will feature a discussion between Karen Woody and students about insider trading and regulation. Find out what the future lawyers of the university think about past and current legislation and learn more about this fascinating area of law.

In this episode of Classroom Insider Season 2, Professor Woody chats with Noah Gallagher and Ahmed. Together, they explore the intricate details of the famous insider trading case, SEC vs. OBIS. The episode dives into the initial allegations, the roles of various individuals involved, and the complex theories of insider trading used in the case, including the classical and misappropriation theories. The discussion also highlights the various legal challenges and court rulings that shaped the case’s outcome, mainly focusing on fiduciary duty, personal benefit, and scienter requirements.

Listeners will understand how the courts handle insider trading cases and the nuances that legal practitioners face. Noteworthy is the conversation on the impact of the court’s interpretations on the personal benefit test and how this case stands about the broader legal landscape of insider trading.

Key highlights:

  • Overview of SEC vs. OBIS Case
  • Details of the Insider Trading Allegations
  • Theories of Insider Trading Explained
  • Court Proceedings and Initial Rulings
  • Appeal and Trial Outcomes
  • Implications and Legal Interpretations

Resources:

Washington and Lee School of Law

Professor Karen Woody

Categories
Blog

Compliance Podcast Network Podcasts Honored by the 2022 Communicator Awards

Recently multiple podcasts on the Compliance Podcast Network have been selected by the Academy of Interactive and Visual Arts to be recognized as a Communicator Award winners for podcast excellence.
Hidden Traffic, hosted by Gwen Hassan was awarded a 2022 Communicator Awards Excellence for Individual Episodes, in the podcast category of Business. Gwen Hassan has developed a passion for exposing human trafficking within supply chains. Her podcast,  Hidden Traffic educates, enlightens, and equips the compliance professional to understand what human trafficking is, the risks your organization will face, where it happens, and what you can do to combat it. For a taste of this podcast, check out Episode 1, where Gwen talks about her passion for this topic.
Classroom Insider, hosted by Karen Woody was honored with a 2022 Communicator Awards Distinction for Individual Episodes, in the Crime & Justice for Podcasts category. In this podcast series, Washington & Lee Professor Karen Woody and her Insider Trading Seminar students from Washington and Lee University explored the arc and evolution of insider trading over the last century. Each episode will feature a discussion between Karen Woody and a student about insider trading. For a taste of the podcast, check out this episode “How Justice Powell Weakened the SEC’s Control” where Karen hosted Lidia Kurganova.
Presidential Leadership Lessons for the Business Executive, a podcast co-hosted by myself and Richard Lummis, was awarded the 2022 Communicator Awards Excellence for Individual Episodes, in the podcast category for Business. In this podcast, Tom and Richard look at what lessons can the modern-day business leader learn from our 46 Chiefs of State. We delve into the great and not so great Presidents to mine their successes and failure for today’s business executive. For a taste of the podcast, check out their 4-part serieson leadership lessons from George Washington.
Understanding Lyme Disease was honored in two categories. In this first, the podcast, hosted by Tom Fox and featuring as guests Dr. Ben Locwin and Scott Endicott, was honored with the 2022 Communicator Awards Distinction for Individual Episodes, in this category of Science & Medicine for Podcasts. The second award was in the category of Features for Storytelling. This 5-part special podcast series dealt with those who have been, had a loved one or friend afflicted with Lyme Disease. Endicott is a Lyme Disease sufferer. There are many different ways to go about diagnosing and treating Lyme incorrectly, and very few ways to do it right. In this special podcast series, we uncovered the shortcomings in the current standards and practices and opened up a dialog about how we can better help patients with this disease. You can check out the entire 5-part series here. If you or a loved one have suffered from this disease, you should check out this award-winning podcast series.
My signature podcast, the FCPA Compliance Report was honored with the 2022 Communicator Awards Distinction for Individual Episodes-Professional Services for Podcasts. The FCPA Compliance Report is the longest running podcast in the in compliance and business ethics arena. Hosted by myself, the Voice of Compliance I visit with top compliance practitioners, key figures from business, the government and law firms in the top podcast dedicated to all things compliance. For a great taste of this podcast check out my two-part series with Dan Kahn and Matt Galvan on dealing with the DOJ. Part 1 and Part 2.
The Compliance Life was honored with the 2022 Communicator Awards Distinction for Individual Episodes for Business. The Compliance Life details the journey to and in the role of a Chief Compliance Officer. How does one come to sit in the CCO chair? What are some of the skills a CCO needs to success navigate the compliance waters in any company? What are some of the top challenges CCOs have faced and how did they meet them? These questions and many others will be explored in this podcast series. Each month I host one person how has traveled to and sometimes from the CCO chair through four episodes. Check out this month’s guest Mark Beyer who has one of the most non-traditional journeys around.
I had two passion projects honored as well.
The first was a 5-part podcast series on the Enron Trial of Ken Lay and Jeff Skilling. It was awarded a 2022 Communicator Awards Distinction, for Individual Episodes, in the podcast category of Business. 2021 was the 15th anniversary of the business Trial of the Century. In this series,  with my co-host Loren Steffy, who covered the trial gavel to gavel, we explored this portion of the Enron Saga. The Enron trial had everything; massive egos, bigger than life lawyers and a massive fraud. Loren and myself provided our reflections and insights on the first Trial of the Century for the 21st Century and how it still resonates today. Check out the full 5-part Trial of the Century, the Enron Trial here.
The second award was for a passion podcast, The Hill Country Podcast which also received two awards. The first was a 2022 Communicator Awards Distinction for Individual Episodes, in the category of Society & Culture. The second was a 2022 Communicator Awards Distinction in the category of Individual Episodes for Lifestyle. I moved to the Texas Hill Country last year as I have always thought it is one of the most beautiful places on earth. In this podcast, I visit with the people and organizations that make this the most unique areas of Texas. Join me as I explore the people, places and their activities of the Texas Hill Country. For a great introductory episode into the Hill Country Podcast, check out Episode 22 with the Cookie Lady, Julia Cardioshinsky about her journey from baking cookies to get through the grief of losing her father to opening her own bakery during the pandemic, all underlaid with her faith.
I would love to host you and your podcast on the Compliance Podcast Network. It is the only podcast network dedicated to compliance but as you can see by many of these award-winning podcasts we are not limited strictly to compliance. In fact the only thing we are limited by is our collective imaginations. So do you have an idea for a podcast? (Like Karen Woody) Do you have a passion you want to discuss? (Like Gwen Hassan) Then give me a call or shoot me an email.