Banking & Finance
Dubious Corporate Practices Get a Rubber Stamp From Big Investors
News
Institutional asset managers carry enormous clout across corporate America. So it’s unfortunate that so many of these managers choose to support the status quo for boards, even when investors are ill served, points out The New York Times.
Hackers Face $8.9 Million Fine for Law Firm Breaches
News
Three Chinese stock traders were ordered to pay $8.9 million in fines and penalties for hacking into two law firms and stealing information on upcoming mergers and acquisitions and then leveraging the information to trade stocks.
Creating Material Wealth for Business Owners & Labor with ESOPs
Event, June 1, 2017, New York
ESOPs are commonly used by an owner seeking to retire, however, in today’s business market of successful start-ups, there’s an opportunity to consider them earlier in the lifecycle of the company.
Best Practices for Limiting Liability Arising from Smart Contract Vulnerabilities
Insight
Jared Butcher, writing in the Steptoe Blockchain Blog, offers six best practices to consider when implementing a smart contract.
Not an Inside Job: How Two Analysts Became SEC Whistleblowers
News
Reuters tells the story of how two analysts who liked to swap notes on numbers they thought looked odd took a fateful step and tipped off U.S. regulators about a company that one of them had watched for months.
U.S. Bank Fined, Ordered to Pay Remediation for Bankruptcy Filing Violations
News
The OCC said that as a result of the bank’s bankruptcy practices, U.S. Bank “has made or will make approximately $29 million in remediation to approximately 22,000 account-holders.”
Jay Peak Resort Receiver Reaches $150 Million Settlement with Raymond James
News
Michael I. Goldberg, the SEC appointed receiver in charge of the Jay Peak Resort and Burke Mountain Hotel in Vermont, reached a settlement agreement with Raymond James that will significantly benefit the defrauded investors and creditors of the receivership estate.
Webcast: Looking to Oil ETFs Ahead of May 25 OPEC Meeting
On-Demand
The ETF Trends webinar discusses various factors that could affect the crude oil prices, including OPEC and policy changes, and looked to investment opportunities to potentially capitalize on the energy market.
Liability of Compliance Officers at Financial Institutions
Event, May 3, 1 p.m. EDT
Practical Law and Norton Rose will present a webinar titled “Liability of Compliance Officers at Financial Institutions” on Wednesday, May 3, 2017, beginning at 1 p.m. EDT.
Madden Remand Muddles Contract Law: SDNY Decision or Sign of National Trend?
Insight
Madden is the latest decision to look past the contractual agreement of the parties to apply state usury and other consumer protection requirements to consumer credit and collections activity, according to an article published by Paul Hastings LLP.
Leon Cooperman Ordered to Trial in Insider-Trading Case
News
A billionaire investor could face trial on allegations that he reaped more than $4 million in illegal profits after conversations with a company insider, Bloomberg reports.
Too Much Wine: Ex-BigLaw Partner’s Insider Tip to Broker Leads to His Conviction
News
Robert Schulman of McLean, Va., was convicted of securities fraud and conspiracy charges. Post-trial defense motions are due April 14, reports Bloomberg Law.
U.S. Justice Department Targets Executives in Wells Fargo Probe
News
Reuters is reporting that a U.S. Justice Department probe into a phony accounts scandal at Wells Fargo & Co. is asking whether executives hid details from the company board and regulators as the problem grew over years.
JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours
News
A new JPMorgan Chase & Co. a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours, according to a Bloomberg report.
U.S. Extends Its Search for Dirty Money in Real Estate
News
The U.S. Treasury Department said it will extend its search for criminals who seek to launder money by buying U.S. real estate, according to a Reuters report.
Current Trends in Loan Terms: Large Cap and Middle Market Loans
Event, March 8, 1 p.m. EST
On March 8, Practical Law and experts from Davis Polk & Wardwell LLP and Thompson & Knight LLP will host a free webinar to discuss the effects of market forces on loans and agreement negotiations.
A Tax Overhaul Would Be Great in Theory, But Hard in Practice
News
Decisions that lawmakers made decades or even a century ago have essentially locked us into ways of doing things, as the cost of changing looms more heavily than the potential benefits of trying something different, writes Neil Irwin for The New York Times.
Republican Plan Would Ease Wall St. Rules, As Party Embraces Deregulation
News
Hensarling’s plan would roll back Wall Street rules and consumer protections conceived after the 2008 financial crisis, a step that will largely define the financial deregulation debate in the Trump era, reports Reuters.
Jury Awards Ousted General Counsel $8M
News
A federal jury awarded the former general counsel of BioRad Laboratories $8 million in back pay and damages – which will increase to $11 million – for whistleblower retaliation involving potential bribery in China, according to a Courthouse News article.
Judge Wants Review of Legal Bills After Firms Reveal 9,000 Hours Of ‘Inadvertent’ Double-Billed Times
News
The hourly rates claimed in the firms’ filings, which ranged from $335 to $500 an hour, were often 10 times more than what the lawyers normally earned, according to The Boston Globe.
