LexisNexis® Legal Newsroom
Robert Fusfeld
FINRA Failure to Supervise Sanctions Upheld

John B. Busacca, III , Exchange Act Rel. 63312, November 12, 2010 FINRA found Busacca failed to supervise back office operations at the clearing firm he was president of. FINRA also found he permitted the firm to employ an unregistered chief...

David Gibbs
Leeds Conference on Directors' Duties and Shareholder Litigation

I recently attended a conference on Directors' Duties and Shareholder Litigation in Wake of the Financial Crisis at Leeds University. Discussion focused mainly on s172 and the new statutory derivative claim, but there was also interesting...

David S. Rich
Dodd-Frank Act Prohibits Public Companies’ Subsidiaries and Affiliates From Retaliating Against Employees Who Report Fraud

On July 21, 2010, President Obama signed into law, effective July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act," "Dodd-Frank," or the "Act"), H.R. 4173. Sections 922 and...

Thomas O. Gorman
Insider Trading – Still a Key Focus of Regulators

Financial reform and the implementing Dodd-Frank continue to be key topics for market regulators. The SEC, CFTC and others are busy writing rules to implement the Act. Many on Capital Hill are studying ways to limits or repeal portions of the landmark...

Gary Larkin
Reports: Small Companies Like to Separate Chair/CEO While Big Firms Go for Lead Directors

While the big takeaway from the inaugural Korn/Ferry Market Cap 100 report on Board Leadership is that few public companies among the large capitalization public companies have non-executive chairs, it doesn't mean there isn't a trend towards...

Doug Cornelius
Europe’s New Directive on Alternative Investment Fund Management

The European Parliament has approved the Directive on Alternative Investment Fund Managers. European countries will now be setting up a framework for regulating hedge funds and private equity funds. The AIRM Directive passed with 513 votes to 92 with...