Throughout the week over at Securities Docket, I highlight the most interesting columns and blog posts from around the web on the subjects of SEC enforcement and securities litigation. Here is a digest of my picks for the week ending February 25.

Manager Took Down Best Friend in Insider-Trading Probe

WSJ.com | Steve Eder, Michael Rothfeld and Jenny Strasburg | Feb 21, 2011

The broken bond between the two men shows how the government's insider-trading investigation is attempting to splinter the tight-knit circles of traders that share illegal investment data, prosecutors allege, in an environment where friendship is key.

After The Vivendi Verdict

The 10b-5 Daily | Lyle Roberts | Feb 26, 2011

A trial verdict that results in $9.3 billion in potential damages is likely to engender a slew of post-trial motions. The court's decision on those motions in the Vivendi securities class action was made public this week. The media focus has been on the court's application of the National Australia Bank (NAB) decision to dismiss the fraud claims by purchasers (including U.S. purchasers) of Vivendi shares on foreign exchanges.... The Vivendi court's other rulings are at least as interesting and two of them stand out.

UK Bribery Act: Big Questions, Little Guidance, More Delay

Reuters Legal | Robin Bergen and Shawn Chen | Feb 23, 2011

Companies around the globe are anxious for guidance. They want to know the jurisdictional reach of the Act, how they can satisfy the “adequate procedures” defense, and how the Ministry views the inherent tension between the Act and the FCPA regarding issues like facilitation payments. The anticipated guidance should offer some clarity. However, delays in its publication likely evince the difficult and complex task the Ministry has faced in drafting guidance that resolves these, and other, complex issues.

Top 10 SEC Enforcement Developments of 2010

Foley & Lardner | Marc Dorfman and Ellen Wheeler | Feb 23, 2011

This article highlights significant developments during 2010 in the enforcement program of the U.S. Securities and Exchange Commission (‘‘SEC''). Developments were selected because they may signal future trends or establish new legal standards.