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 24. 

Cloud hangs over crime agencies as chiefs step down

Caroline Binham, Financial Times

A change of guard is under way in the fight against economic crime in the UK. All three heads of the main agencies charged with tackling white-collar crime will have left their posts by the end of the year, leaving behind them questions over how effectively Britain targets insider traders, cartelists and fraudsters. 

Foolish And Unprofessional' Behavior Infected FCPA Prosecutions

Mike Koehler, The FCPA Blog

The DOJ's once invincible FCPA unit isn't just losing high profile prosecutions. It's getting clobbered. And a common theme in the setbacks is a lack of professionalism and preparation.

Red Flags Pointed Directly to Madoff

Tracy Coenen, Sequence Inc. Fraud Files Blog

It turns out there were plenty of red flags pointing squarely at the scheme Madoff was running. It was clear years ago to Harry Markopolos, the author of “No One Would Listen: A True Financial Thriller.” …

Markopolos spent hours digging into Madoff's activities, looking for any way he could to prove that Madoff wasn't legitimate. But no one would listen to him. The SEC couldn't have had it any easier. Markopolos gave them a simple roadmap that outlined exactly why Madoff was lying about his investment strategy and the returns he was generating. He had no returns and no strategy, and Markopolos laid out the air-tight red flags time and again for the SEC.

Securities Litigation Year in Review 2011

Haynes and Boone

2011 was a remarkable year in the world of securities class actions, with notable decisions from the Supreme Court, and a number of interesting rulings from Circuit and District Courts as well. The Supreme Court issued three decisions covering important merits and class certification-related issues in securities class actions, following two significant securities decisions in 2010. Three of these five decisions from the last two years could be characterized as “plaintiff-friendly”— from a Supreme Court generally considered to be “pro-business.” Although the numbers may vary among Circuits, the overall pace of securities class action filings will likely continue unabated. NERA's year-end review projects 232 securities class action filing s in 2011, broadly in line with levels observed over the past three years.