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Securities Regulation Keyed to Coffee
SEC v. Banca Della SvizzeraItaliana
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*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
- Case Key Terms, Acts, Doctrines, etc.: A case specific Legal Term Dictionary.
- Case Doctrines, Acts, Statutes, Amendments and Treatises: Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
- Brief Facts: A Synopsis of the Facts of the case.
- Rule of Law: Identifies the Legal Principle the Court used in deciding the case.
- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
An action was filed by the SEC against BSI and its foreign principals for insider trading in call options. On the Philadelphia Stock Exchange the options were traded for the stock of the New York Stock Exchange traded, St. Joe Minerals Corp. (St. Joe). Immediately preceding a tender offer by a subsidiary of Joseph E. Seagram & Sons, Inc., the purchases of all common stock of St. Joe for $45 (vs. $30 a share pre-announcement) a share were made. BSI’s transactions in their options brought profits nearing $2 million overnight and because of this undue activity, caught the eye of the SEC, an investigation ensued and due to its findings, brought suit. The SEC procured a temporary restraining order requiring that "insofar as permitted by law," BSI needs to disclose the identity of its principles; the SEC tried to attain the identities in various ways but no disclosure was provided and BSI adhered to its avowal of the banking secrecy law. In conclusion, harsh contempt sanctions were threatened by the court if the SEC interrogatories remained unanswered and in response, BSI procured a waiver of Swiss confidentiality laws and answered some of the interrogatories.
- Issue(s): Lists the Questions of Law that are raised by the Facts of the case.
- Holding: Shares the Court's answer to the legal questions raised in the issue.
- Concurring / Dissenting Opinions: Includes valuable concurring or dissenting opinions and their key points.
- Reasoning and Analysis: Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
- Policy: Identifies the Policy if any that has been established by the case.
- Court Direction: Shares where the Court went from here for this case.