New York University’s Pollack Center on Law and Business hosted a zoom conference to commemorate  the 40th anniversary of  United States v. Chiarella, the origin of  modern insider trading cases.  The program  explored the fascinating backstories of the Chiarella prosecution and the Supreme Court argument as well as the SEC’s and DOJ’s insider trading enforcement strategies in the wake of the Court’s ruling.  

The morning’s panel, moderated by Professor Danna M. Nagy of Indiana University Maurer School of Law, reunited prosecution and defense:  LSW partners John Siffert and Rusty Wing, and the Honorable Jed Rakoff (U.S. District Judge SDNY) were at that time AUSAs on the Chiarella prosecution team for the United States Attorney’s Office SDNY, and Stanley Arkin (now of Arkin Solbakken) represented the defendant, Mr. Vincent Chiarella.  The four panelists engaged in a lively discussion of their perspectives on insider trading issues from 40 years ago, and the state of the law today.

The second panel of the day focused on responses to Chiarella, up to and beyond U.S. v. Newman.

The day honored the past as well as pointed to the future of insider trading prosecutions and jurisprudence.