by wittenberglaw | May 11, 2010 | w-law-blog
Earlier today, the New York Attorney General’s office took action against former Madoff feeder Ivy Asset Management. The NYAG’s entire press release is informative. Thus, I reprint the NYAG’s press release in its entirety below. NEW YORK, NY (May 11,...
by wittenberglaw | May 6, 2010 | w-law-blog
Commissioner Luis A. Aguilar of the Securities and Exchange Commission (SEC) gave a speech on April 29, 2010 on the topic of fiduciary duties owed by investment advisers and (not owed) by broker-dealers. Let’s start with some context. SEC v. Capital Gains...
by wittenberglaw | Apr 16, 2010 | w-law-blog
On April 16, 2010, the Securities and Exchange Commission (SEC) filed a complaint against Goldman, Sachs & Co. and one of its employees alleging that they made materially misleading statements and omissions in connection with ABACUS 2007- AC1, a synthetic...
by wittenberglaw | Apr 15, 2010 | w-law-blog
On April 15, the Securities and Exchange Commission (SEC) filed a complaint against Richard H. Nickles, and three companies that he controls: (1) Innovative Advisory Services, Inc., (2) Innovative Advisory Services LLC, and (3) Island Trader LLC. The SEC alleged that,...
by wittenberglaw | Apr 9, 2010 | w-law-blog
On March 29, Bill Lockyer, Treasurer of the State of California, sent an identical letter to each of six banks requesting disclosure concerning each bank’s “market activities related to credit default swaps on municipal bonds in general, and State of...
by wittenberglaw | Apr 2, 2010 | articles, w-law-blog
On March 29, 2010, the Inspector General of the Securities and Exchange Commission (SEC) issued a report assessing the SEC’s bounty program (i.e., payments to whistleblowers). The report concludes that the bounty program has been virtually useless to date and...
