Day Pitney launches venture capital law blog

on
It surely won’t be as goofy as the “Bob Loblaw Law Blog” portrayed on TV show Arrested Development, but law firm Day Pitney on Monday launched a new online resource for entrepreneurs and investors in the northeast and Mid-Atlantic regions. The firm’s new law blog is called “The Venture Law Desk.” It plans to track […] [Read More]

Shelton High grad turned Citigroup CEO garnering praise

on
He was brought in, in part, to get Citgroup out from under the regulators’ microscope. He was brought in, perhaps, to be a little boring. Today, former Shelton High football star Michael L. Corbat — whom we profiled this past summer — got some rather unconventional praise in a New York Times piece that ran […] [Read More]

Attorney thinks SAC trader looking safe in trial

on
Today begins the latest step in the government’s probe of Stamford-based hedge fund SAC Capital Advisors — money manager Michael Steinberg goes on trial at Manhattan federal courthouse for insider trading charges. We at Financial Mines got an email from Chicago securities attorney Andrew Stoltmann, who thinks prosecutors face an uphill climb and are unlikely […] [Read More]

Steve Cohen gets big backing on CNBC

on
With rumors swirling that SAC Capital’s Steve Cohen and the government could finalize a billion-dollar settlement to insider-trading allegations any day now, the embattled Greenwich hedge fund magnate got some hefty backing from another hedge fund heavyweight on CNBC Monday: Skybridge Capital’s Anthony “Mooch” Scaramucci. “I think it’s sad for the people who have their […] [Read More]

Apple all alone in eBook conspiracy allegations

on
Consumers might sympathize with Apple over the tax thing, but this eBook business is a different story. Connecticut Attorney General George Jepsen announced Wednesday Penguin Group got cold feet in the fight against allegations by 32 states that it was part of a conspiracy of book publishers that joined with Apple to fix the prices […] [Read More]
Categories: General, Regulatory

Conn. gets piece of $500 million generic drug settlement from India

on
Connecticut Attorney General George Jepsen said Tuesday the state will get about $1.5 million from Ranbaxy, the India-based generic drug maker, who settled allegations this week that it was selling generics that were less than full strength or less than pure. Ranbaxy agreed to settle the charges after a whistleblower made allegations about its drugs […] [Read More]

Harrisburg a cautionary tale for bond investors and mayors

on
The SEC slapped Harrisburg, PA, with a cease and desist order Monday, saying the city’s government for allegedly violating securities law. Regulators found that city officials failed to come clean about the dire debt trouble at its Resource Recovery Facility and its general financial health while issuing bonds. This all happened in 2009 and since […] [Read More]

NY AG says Wells and Bank of America need to be sued

on
New York Attorney General Eric T. Schneiderman announced Monday he intends to sue Bank of America and Wells Fargo for violating the $25 billion national mortgage settlement with the states. As part of the 2012 deal, which Connecticut Attorney General George Jepsen helped craft, the nation’s five largest banks agreed to provide mortgage relief to […] [Read More]

SEC requires investor ID theft prevention

on
The problem of identity theft has sparked the SEC to require brokers, dealers, advisers and other investment pros to put in place prevention programs. Investment pros will have to create programs that will flag suspicious activity. The problem of ID theft has led to delays in processing tax returns for some individuals during the last […] [Read More]
Categories: Regulatory, Wall Street
Tags: |

Cohen’s hedge funds and advisories settle SEC allegations for $616 million

on
The U.S. Securities and Exchange Commission said advisories and hedge funds affiliated with SAC Capital have settled allegations of insider trading in two separate cases, agreeing to pay a total of $616 million. SAC’s affiliated advisory firm Sigma Capital in New York agreed to settle allegations of insider trading related to Dell for $14 million. […] [Read More]