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SEC bans short-selling of 799 financial stocks
WASHINGTON AP-The federal government, trying to boost investor confidence in the face of a market crisis, took the unprecedented step Friday of temporarily banning a practice of betting against financial stocks.The move by the Securities and Exchange Commission will temporarily ban what is called short selling of 799 financial stocks.Wary investors seek higher yields without higher risk
Wealth managers say clients who fled to cash after last fall's economic meltdown are cautiously dipping their feet back into financial waters.Vote by Advisory Commission on E-Commerce To Extend Internet Tax Ban Lacks Supermajority
In its final meeting before submitting its report to Congress, the Advisory Commission on Electronic Commerce voted to support a proposal that no Internet sales taxes be collected until at least 2006 in states where the Internet sellers have a brick-and-mortar presence. But the vote of 11-1 with seven abstentions tells the story of an acrimonious meeting. Those abstaining, as well as members of Congress, argued that the lack of a two-thirds "supermajority" makes the commission's vote moot.Singh v. United Cerebral Palsy of New York City
Free With Registration: Defendant Had No Notice of Allegedly Defective Door Condition, But Res Ipsa Loquitur Issues Prevent Dismissal
Mortgage failures could create nightmare situation
When Domenico Colombo saw that his monthly mortgage payment was about to balloon by 30 percent, he had a clear picture of how bad it could get.His payment was scheduled to surge by an extra $1,500 in December. With his daughter headed to college next fall and tuition to be paid, he feared ending up like so many neighbors in Ft.Tweeting rules leave brokers with little to say
Social media sites such as LinkedIn and Twitter are redefining the way businesses reach their customers. Securities firms are largely absent from the revolution. Regulators and company rules at brokerages have slowed the adoption of social media by the financial services industry, said Margaret Paradis, a New York-based partner at law firm Baker McKenzie who advises brokers and fund managers.Howard Rice Loses Litigation Partner to Dechert
Howard, Rice, Nemerovski, Canady, Falk & Rabkin lost its former litigation group chairman, H. Joseph Escher, to Dechert this week. Escher, who gained prominence as lead California counsel for R.J. Reynolds Tobacco in class action, governmental and product liability matters, said he was drawn to Dechert because of its ranking in defense litigation. The latest in a string of partners to leave Howard Rice in recent months, Escher said his decision was not related to his former colleagues' departures.TRENDING STORIES
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