Insider trading is an area of risk that hedge
fund management finds very difficult to identify and prevent. While the
problem has become increasingly prevalent, the tools to be able to assist hedge
fund managers have not expanded proportionately. A...
On this edition, Professor James Fanto discusses the Obama administration's proposal for the creation of a new consumer financial protection agency. Copyright© 2009 LexisNexis, a division of Reed Elsevier Inc.
Click here to play this audio...
In a May 31, 2012 study of the FDIC failed bank litigation that contains a number of interesting observations and projections, NERA Economic Consulting projects at the current filing rate, the FDIC's failed bank litigation ultimately could total 86...
be a new problem facing financial institutions from commercial real estate
loans becoming due in 2010 and will thereafter need refinancing. If small and
mid-size banks become concerned about the losses, they will likely make fewer
by Paige S. Fitzgerald and Alan Wingfield
The Office of the Comptroller of the Currency (OCC) in its Spring 2014 Semiannual Risk Perspective report has stated that signs of risk in the auto lending industry are beginning to emerge, based on data that...
The Consumer Financial Protection Bureau has issued a proposal
to supervise nonbank servicers of private and federal student loans who qualify
as "larger participants" in the student loan servicing market. Comments on the
proposal will be...
The SEC has been poking around valuations for a while.
First it was from the chaos of the 2008 financial crisis. The sudden
illiquidity and drop in prices left many scratching their heads about the
proper valuations for their assets.
That was the...
by Kathleen Scott
1. How can international banks operate in your jurisdiction?
Non-US banks can engage in banking activities in the US through direct offices such as branches, agencies and representative offices or through bank subsidiaries. Branches...
You would expect that a publication with a libertarian
tilt like The Economist would not look favorably at the Dodd-Frank
Wall Street Reform and Consumer Protection Act . They call it Too big not to fail . Being The
Economist , the article argues with...
One of the perennial D&O insurance coverage questions is whether or not subsequent claims are "interrelated" with a prior claim and therefore deemed first made at the time of the prior claim. This question can be particularly critical when...
On April 3, the Federal Reserve Board ("Board") published
a final rule ("Rule") specifying when a financial company that may be made
subject to systemic regulation under Title I of the Dodd-Frank Wall Street
Accountability and Consumer...
by Knox Dobbins
On June 23, the Bureau of Consumer Financial Protection (CFPB) invited preliminary comment on future rulemaking the Bureau will undertake under Section 1024 of the Consumer Financial Protection Act of 2010. Under Section 1024, the Bureau...
Federal prosecutors unveiled charges against two more
former employees of convicted Ponzi schemer Scott Rothstein's now-defunct law
firm Rothstein Rosenfeldt Adler ("RRA"), accusing them of playing a
role in Rothstein's massive fraud...
The United States Government forced online poker sites to
the fringes of the financial system. The U.S. government has long argued that
online poker gambling is illegal under the Wire Act, a 1961 law that explicitly
prohibits sports betting conducted...
On June 30, 2010,
the House adopted the conference report on H.R. 4173, the Dodd-Frank Wall
Street Reform and Consumer Protection Act ("Dodd-Frank Bill" or
"Bill"). The Senate is expected to follow suit when it returns from...
A Consumer Financial Protection Agency has been put forth as one of the proposals to address regulatory deficiencies that allowed of institutions offering those selling consumer financial products to overreach. Professor Jennifer Martin looks at the proposed...
There are indications from Washington that hedge funds,
long exempt from anti-money laundering reporting rules, may soon be
brought into the fold under new rules proposed by the Treasury
Department's Financial Crimes Enforcement Network (FinCEN...
by Dan Crowley, Karishma Shah Page, Bruce Heiman, Collins
R. Clark and Justin D. Holman
On December 11, the
House of Representatives passed H.R. 4173, the Wall Street Reform and Consumer
Protection Act of 2009 (see H.R. 4173 as introduced...
NEW YORK - Four Bernard L. Madoff Investment Securities
LLC feeder funds and several of their current and former owners and officers
have agreed to pay nearly $220 million to settle claims that they breached
their fiduciary duties under the Employee...
We have another update regarding litigation involving the United States Treasury’s Home Affordable Modification Program (“HAMP”). See some of our HAMP related posts here, here and here . As explained in some of our prior posts, the HAMP...
If you're a fund manager getting ready to register
because you've been Dodd-Frank'ed, then you are likely in the middle of
drafting Part 2 of Form ADV, the brochure. One item that caused my to pause was
the risk factor requirements in Item...
Eric J. Brown,
Matthew J. Collins, Kevin J. Walsh, Mark W. Wells , Exchange Act Rel. 66469,
February 27, 2012
The Commission upheld sanctions against three respondents in connection with
sales or supervision of sales of variable annuities. It...
The online coupon industry, led by companies such as Groupon Inc. , is growing
rapidly, and it's still not clear which company or companies will end up the
winners. With so much money potentially at stake, it's not surprising that
When Southern District of New York Judge Naomi Reice
her order in the consolidated LIBOR litigation on March 29, 2013, she
dismissed the plaintiffs' antitrust and RICO claims against the LIBOR
rate-setting banks, and she also...
Last year, I looked a the top 30 real estate private
equity fund managers to see which are already registered with the SEC. The 2011
version of the PERE 30 just came out, so I decided to look at the list
again. (Disclosure: my company is on the list...