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By Legal Week | April 21, 2010
The co-general counsel of Goldman Sachs has strongly defended his company, telling investors that the suit against the Wall Street giant took him by surprise, reports The Am Law Daily. Speaking in a conference call on Goldman's first quarter earnings report, Gregory Palm said his legal department spent the past 18 months talking and providing records to the Securities and Exchange Commission (SEC), but that the agency did not notify the company that it was filing suit last Friday (16 April).
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By Legal Week | April 19, 2010
Sullivan & Cromwell and Allen & Overy (A&O) are taking key advisory roles after the US Securities and Exchange Commission (SEC) on Friday (16 April) filed a civil suit accusing Goldman Sachs of securities fraud. The suit, which claims Goldman created and sold a collateralised debt obligation (CDO) secretly designed to fail, is the first action by taken by regulators against those that capitalised on the collapse of the US housing market.
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By Claire Ruckin | April 14, 2010
For years competition policy in the UK seemed to be a case of plenty of talk but little action. But the Office of Fair Trading's (OFT) move last month in fining Royal Bank of Scotland (RBS) a hefty £28.6m for breaching competition law is the latest in a series of recent reminders that the years of hot air are finally translating into a more robust enforcement policy.
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By Legal Week | April 12, 2010
Bingham McCutchen has sealed the hire of the former enforcement head at the regulatory arm of the New York Stock Exchange (NYSE), reports The Am Law Daily. Susan Merrill, who spent a total of six years as head of enforcement for the NYSE's regulatory arm and the entity that succeeded it, will join Bingham's broker-dealer group in New York this week.
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By Sofia Lind | April 1, 2010
The Postal Services Commission (Postcomm) has appointed a Simmons & Simmons partner to take on the role of legal director at the regulatory body. The unusual appointment sees Simmons City competition partner Jenny Block act as Postcomm legal director while also remaining a partner at Simmons, working part-time on her usual client work.
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By Claire Ruckin | April 1, 2010
The Financial Services Authority (FSA) has charged seven people in relation to alleged insider dealing in the latest crackdown on market abuse by the City watchdog. The group faces charges on 13 counts of insider trading following a 21-month investigation which relates to dealing in shares of 12 companies, including Morgan Crucible, Misys, Reuters and Enodis, between 2006 and 2008. According to the FSA, activity during the two-year period involved alleged unlawful profits of around £2.5m.
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By Suzi Ring | March 31, 2010
Ashurst has moved to expand its Washington DC practice with its first lateral hire in the US since its high-profile American launch last year. Margaret Sheehan is set to join Ashurst after resigning from US law firm Alston & Bird. Sheehan has worked as a partner at Alston since 1996 in the firm's financial services and products department and will join Ashurst as a partner in its financial regulation group.
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By Jeremy Hodges | March 11, 2010
The Financial Services Authority (FSA) has secured its most significant conviction to date with former Cazenove partner Malcolm Calvert this week being convicted on five counts of insider dealing. The verdict yesterday (10 March) represented the FSA's most high-profile conviction and the third successful prosecution for insider dealing by the City regulator, which hailed the result as a "milestone".
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By Legal Week | March 10, 2010
The 5 November 2009 was a good day for the Securities and Exchange Commission (SEC). At a press conference with the US attorney's office in Manhattan, new SEC enforcement director Robert Khuzami announced that his agency was bringing civil charges against 13 people associated with the Galleon Group insider trading scandal. In the post-Madoff era, it was a chance for the SEC to show that it is back on the beat, aggressively policing the securities markets. And it was an opportunity for Khuzami, who can mix financial crime gravitas with Jon Stewart-age ironical detachment, to set a different tone.
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By Friederike Heine | March 10, 2010
Water and sewerage regulator Ofwat has finalised its first-ever external legal panel, appointing three firms to the roster. Addleshaw Goddard, Norton Rose and Wragge & Co have all won spots on the panel, with the trio appointed following a tender process that kicked off in November last year.
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By Mike Scarcella | April 27, 2021
Welcome to Compliance Hot Spots, our weekly snapshot on white-collar, regulatory and compliance news and trends.
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By Cheryl Miller | April 26, 2021
Southern California tax and defense counsel Nathan Hochman, a Republican and a Big Law alum, said last week he will run for Bonta's job in 2022. Now, Sacramento County District Attorney Anne Marie Schubert has launched a campaign.
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By Jeffrey Dintzer and Gregory Berlin | April 26, 2021
A recent wave of PFAS investigation orders will have broad implications not only for refineries and bulk fuel storage terminals, but also for the larger regulated community as California continues to aggressively investigate PFAS contamination across the state and identify responsible parties, says Jeffrey Dintzer and Gregory Berlin of Alston & Bird in Los Angeles.
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By Victoria Hudgins | April 23, 2021
Utah recently became the second state to enact an affirmative defense for data breaches. But complicated compliance and added responsibilities might scare some companies off from leveraging the legal mechanism.
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By Cheryl Miller | April 22, 2021
Welcome to Higher Law. This week we're looking at: the Ninth Circuit's rejection of dispensary Harborside's 280E challenge • a new Law.com survey of cannabis law professionals. Thanks for reading!
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By Mike Scarcella | April 22, 2021
Welcome to Labor of Law, our labor and employment dispatch spotlighting big cases, key issues and developing trends.
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By Wendy Johnson Lario, Alan Brody and Scott Humphreys | April 22, 2021
A look at relevant employment laws and litigation vulnerabilities that companies, including their owners, officers and directors, should consider before ceasing operations or filing for bankruptcy.
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By Justin Henry | April 22, 2021
Firm co-founder James Murphy said the boutique has been seeking someone to lead a bank-focused practice for five years.
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By Linda A. Thompson | April 22, 2021
The new rules for "human-friendly AI" will impose major new obligations on AI providers, importers, distributors and users.
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By Lisa Shuchman | April 21, 2021
The new rules for "human-friendly AI" will impose major new obligations on AI providers, importers, distributors and users.
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Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
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