Court Allows Use of Wiretap Evidence in Galleon Insider Trading Case – On November 24, Judge Richard J. Holwell of the Southern District of New York denied defendant Raj Rajaratnam’s motion to suppress the government’s wiretaps in the highly publicized Galleon insider trading case, allowing the admissibility of volumes of wiretap recordings to be used as evidence for the first time in a criminal insider trading case. Click here to read more.

SEC Proposes Rules Exempting Certain Private Fund Advisers from Investment Adviser Registration – The SEC has published for comment proposed rules to implement certain new exemptions from registration under the Investment Advisers Act of 1940.  Click here to read more.