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 November 5:

A Securities Litigation Stalwart Takes a Loss

The D&O Diary | Kevin LaCroix | Nov 5, 2010

Although the world of electoral politics may seem distant from the directors’ and officers’ liability arena, there was one development in Tuesday’s elections that potentially could affect the D&O claims environment, and it happened right here in The D&O Diary’s home state of Ohio. It has not drawn much national attention, but Ohio’s activist Attorney General Richard Cordray (pictured) lost his reelection bid to his Republican challenger, former U.S. Senator Michael DeWine.

Will Ernst & Young Ever Be Held Accountable for the Lehman Failure?

re: the Auditors | Francine McKenna | Nov 2, 2010

The more successful a fraud case is against Lehman’s executives, the less likely EY or any of its partners will suffer any consequences for their acquiescence to or complicity in the fraud. That’s not to say the firm won’t suffer slowly and painfully from the enormous amount of time and money devoted to defending themselves in Lehman litigation and the rest of the suits they face. And, of course, there is reputational damage with some clients. That’s why their Chairman has gone on the PR defensive. But with regard to Lehman cases, EY can now take a breath. When executives commit fraud and are held liable, and especially when there’s a bankruptcy involved, auditors are rarely held responsible.

C.F.T.C. Is Set to Get Tougher on Fraud

DealBook | Peter Henning | Nov 1, 2010

A little-noticed provision of the Dodd-Frank Act, Section 753, gives the C.F.T.C. the same authority to police “manipulative and deceptive” conduct in the commodities, futures and swaps markets as the S.E.C. has for securities fraud. A new rule proposed by the C.F.T.C. last week is patterned after the S.E.C.’s powerful Rule 10b-5 that has been used to prosecute everything from false financial statements to Ponzi schemes to insider trading. The C.F.T.C. is now a player in the fraud game.

Six Days in June: Behind Office Depot's Reg FD Violation

CFO.com | Roy Harris | Nov 1, 2010

When Office Depot's CEO and CFO determined in May 2007 that per-share earnings probably would fall short of analysts' 48 cent consensus, they devised an unorthodox strategy. Just after CEO Stephen Odland notified the board of the lower projections on May 31, according to a recent Securities and Exchange Commission settlement agreement, he and then-CFO Patricia McKay held back on issuing a press release, citing incomplete corporate estimates. Instead, on June 20 the Office Depot CEO proposed to the CFO that analysts should be approached one by one to get them to lower their estimates.... What happened during the next six days — before any 8-K filing or press release issuance — is detailed in an SEC complaint charging Office Depot with violating Regulation FD.