Banking & Finance
Lex Disturbia: The Impact of Smart Contracts on the Law
Article
Even though they are still largely theoretical, smart contracts are being hailed as a force that will disrupt a number of industries, write Mark Hines and Niklas Holmberg of Gowling WLG in a post on Lexology.com.
Austin Lawyer Headed to Prison for Aiding Stock Scammer
News
According to witnesses, Patrick Lanier traveled to Mexico to provide legal counsel for his fugitive client under several of the client’s various false names.
SEC Is Not ‘Targeting Compliance Professionals’
Article
Industry concerns about regulators targeting CCOs gained steam last summer after the SEC brought an enforcement action against BlackRock and its CCO in a case turning on the failure to disclose a conflict of interest and other compliance lapses.
Vendor Contracting and GLBA’s Safeguards Rule
Article
Transactions between financial institutions and their technology services providers are often regulated by GLBA. GLBA includes both privacy and safeguard rules related to customer information. These rules require financial institutions to implement adequate administrative, procedural, and technical safeguards designed to safeguard customer information.
Job Applicant Waited Too Long to Sue Over Credit Report
News
The statute of limitations on an unsuccessful job applicant’s Fair Credit Reporting Act claim began to run when he discovered that his credit report had been pulled.
Trump Bankruptcy – Icahn Takes Away the Keys
News
Former debt holder Carl Icahn provided Trump Entertainment Resorts with $82.5 million in exit financing, meaning he now owns its properties, including the Trump Taj Mahal and Trump Plaza Hotel and Casino in Atlantic City.
Katz, Marshall & Banks Issues New Guides for SEC and CFTC Whistleblower Programs
Article
Katz, Marshall & Banks, LLP is offering for free download practice guides for the whistleblower programs for the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC).
VimpelCom to Pay $795 Million to Settle U.S. Bribery Claims
NEWS
More than $114 million in bribes, according to federal prosecutors, was funneled to the Uzbek official during a six-year period by the firm, which issues publicly-traded securities in the U.S. The companies concealed the bribes through various payments to a shell company.
M&A and Transaction Risk Oversight Examined
White Paper
The National Association of Corporate Directors is offering a complimentary copy of the summary from a recent meeting of the NACD Advisory Council on Risk Oversight, which focused on the board’s oversight of M&A transactions.
Goldman Sachs Bankers Said to Depart on Guidelines Breach
NEWS
Three bankers have left Goldman Sachs Group Inc. after the U.S. firm determined they breached internal guidelines in connection with the bank’s advisory role on the planned acquisition of a consumer company in the Middle East, reports Bloomberg News.
Morgan Stanley to Pay $3.2B Penalty in Securities Deal
NEWS
Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities (RMBS), the Justice Department reported Thursday.
Former GC Gets 18 Months for Stealing $2.6m From Company Account
NEWS
The former in-house counsel of an Ocean County, New Jersey-based home health care company was sentenced Thursday to 18 months in prison for using his attorney trust account to steal more than $2.6 million from his employer.
The Life of a White Collar Fugitive Not All It’s Cracked Up to Be
Article
Walter Pavlo tells the story of once-fugitive Lawrence “Larry” Hartman, a Columbia Law School graduate who once thought himself a king of penny stocks.
Pennsylvania Lawyer Convicted in Insider Trading
NEWS
A former partner at the law firm Fox Rothschild was found guilty on Friday of engaging in insider trading after learning that a client at his law firm was about to announce a merger, according to a Reuters report.
Fortune 500 General Counsel David Black Joins Carrington Coleman
NEWS
Former Fortune 500 general counsel David W. Black has joined Dallas-based Carrington, Coleman, Sloman & Blumenthal, LLP as a partner working in corporate transaction and counseling services.
Wells Fargo to Pay $1.2B Federal Mortgage Settlement
NEWS
The government had accused the banking company of ‘reckless’ underwriting practices that led to thousands of federally-insured loans defaulting.
Former GC Will Receive $850K for Alleged Defamation by Ex-Employer
Former general counsel Chet Taylor $600,000 in a jury verdict and accepted an additional $250,000 to avoid trying a subsequent punitive damages claim.
Court Rules on Convention on Contracts for the International Sale of Goods
Article
A court has ruled that the UN Convention on Contracts for the International Sale of Goods applied in a contract case in which the plaintiff claimed that the defendant had delivered a nonconforming product.
Report Describes Lawyers’ Advice on Moving Suspect Funds Into U.S.
NEWS
Global Witness said 12 of the 13 lawyers its investigator had met with discussed ways to move money.
HSBC Says It Successfully Defended Attack on Online Banking System
HSBC customers were locked out of internet banking for several hours after the company was targeted by online criminals in a denial of service attack.
