Washington, D.C., March 5, 2009 (LAWFUEL)- Securities and Exchange Commission Chairman Mary L. Schapiro announced today that the agency is moving to improve the handling of whistleblower complaints and enforcement tips in order to better protect investors.

The SEC has enlisted the services of the Center for Enterprise Modernization, a federally funded research and development center operated by The MITRE Corporation, to begin immediately working with the SEC to conduct a comprehensive review of internal procedures used to evaluate tips, complaints, and referrals. The agency is seeking to establish a more centralized process that will more effectively identify valuable leads for potential enforcement action as well as areas of high risk for compliance examinations.

“As we continue to reinvigorate our enforcement efforts as an agency, it’s vitally important that we move very aggressively to improve staff’s use of tips and complaints from investors and whistleblowers,” said Chairman Schapiro. “This comprehensive review will help us identify and improve areas within the agency where gaps or lack of communication may cause breakdowns that prevent us from ensuring swift and vigorous enforcement.”

The SEC typically receives hundreds of thousands of tips and complaints per year from investors and the general public as well as from those the SEC regulates, including broker-dealers, investment advisers, and public companies. These communications come through a variety of means, including Web forms, e-mail, phone calls, mail, messengers, and faxes. Tips and complaints can come into several different divisions and offices within the SEC’s Washington, D.C., headquarters, and each of the SEC’s 11 regional offices around the country. The SEC also receives referrals from self-regulatory organizations (SROs), other government agencies, and foreign regulators.

The SEC’s review will scrutinize the agency’s processes for receiving, tracking, analyzing, and acting upon the tips, complaints, and referrals from these outside sources. The goal of the review is to improve the efficiency, effectiveness, and overall management of how the agency addresses tips, complaints, and referrals, and how SEC staff utilizes the information received to protect investors.

The Center for Enterprise Modernization of The MITRE Corporation will help the SEC identify ways to improve the quality and efficiency of the agency’s current procedures, and to recommend potential technology solutions that can assist the SEC staff in more effectively managing and utilizing tips, complaints, and referrals. The MITRE Corporation (www.mitre.org) is a not-for-profit organization that provides systems engineering, research and development, and information technology support to the government.

Washington, D.C. – Sidley Austin LLP announced today that Jonathan Cohn, former Deputy Assistant Attorney General, has rejoined Sidley as a partner in the firm’s Washington, D.C. office. Mr. Cohn will rejoin the firm’s Appellate practice.

Mr. Cohn most recently served as Deputy Assistant Attorney General in charge of the Civil Division’s Appellate Staff at the Department of Justice, where he personally handled and supervised the most sensitive civil cases for the federal government, including administrative law cases, national security cases, and suits challenging the constitutionality of federal statutes and regulations.

Mr. Cohn managed over 200 lawyers, supervising the Civil Division’s Appellate Staff and the Division’s Office of Immigration Litigation during his tenure.

“Jon is a skilled advocate with extensive experience litigating highly significant matters for the United States government in nearly every circuit,” said Carter G. Phillips, managing partner of the firm’s Washington, D.C. office. “We are thrilled to welcome Jon back to the firm.”

While at the Department of Justice, Mr. Cohn developed litigation strategies with numerous client agencies, including the Departments of Treasury, Homeland Security, Health and Human Services, Defense, and State, and he advised the Attorney General, the Deputy Attorney General, and other senior Justice Department officials on pending litigation. Mr. Cohn has argued twenty-nine cases in the United States Courts of Appeals, including six en banc cases.

“My time at the Department of Justice could not have been more rewarding, but I am ready to return to private practice, and I am thrilled to rejoin my old colleagues at Sidley to further enhance its already significant appellate practice,” said Mr. Cohn.
Mr. Cohn received his JD from Harvard Law School, magna cum laude, where he served as primary editor of the Harvard Law Review, and his BS from the University of Pennsylvania, summa cum laude. He also served as a law clerk to Supreme Court Justice Clarence Thomas and Ninth Circuit Judge Diarmuid F. O’Scannlain.

One of the first law firms to have a dedicated appellate group, Sidley’s appellate practice is national in scope, consisting of more than 100 lawyers representing clients before the United States Supreme Court, state supreme courts, federal courts of appeals and other appellate forums. In the 2007-2008 Term, five different lawyers from Sidley’s appellate team argued eight cases before the U.S. Supreme Court, topping the list of law firm appearances before the Court during the Term. Additionally, Sidley’s team was involved with almost 40 percent of the argued cases on the Supreme Court docket, representing either a party or an amicus. In the 2008-2009 Term, Sidley’s appellate team is scheduled to argue eight cases.

Sidley Austin LLP is one of the world’s largest full-service law firms, with more than 1800 lawyers practicing in 16 U.S. and international cities, including Beijing, Brussels, Frankfurt, Geneva, Hong Kong, London, Shanghai, Singapore, Sydney and Tokyo. Every year since 2003, Sidley has been named to Legal Business’ Global Elite, its designation for the 18 firms “that define the pinnacle of the legal profession.” BTI, a Boston-based consulting and research firm, has named Sidley to their Client Service Hall of Fame as one of only two law firms to rank in the Client Service Top 10 for seven years in a row, and to the BTI Power Elite as one of only seven law firms demonstrating the best client relationships for the fourth consecutive year.

For purposes of the New York State Bar rules, this press release may be considered Attorney Advertising and the headquarters of the firm are Sidley Austin LLP 787 Seventh Avenue, New York, NY 10019, 212.839.5300 and Sidley Austin LLP One South Dearborn, Chicago, IL 60603, 312.853.7000. Prior results described herein do not guarantee a similar outcome.