Thursday, February 23rd, 2012

Insider Suspects Await Regulator’s Decision

Arrested nearly 2 years ago by the U.K.’s Financial Services Authority, or FSA, 7 suspects may learn as early as next month whether they’ll be charged with insider trading. At the time of their arrests, which was part of…

New York’s New Federal Judge

The U.S. Senate voted 62-34 in favor of his nomination. And so, Jesse Furman, 39, was confirmed Friday as the latest judge to serve the Southern District of New York. Mr. Furman, who has been a prosecutor in the…

Bonus Scorecard

With BNP Paribas, Societe Generale and UBS having recently announced firm-wide bonus cuts, we now have statistics on 11 different firms that can be compared. Average firm-wide cuts ranged widely, from 15% to nearly 50%.

And, firms in the U.S….

BofA CEO Moynihan Takes a Cut

At Bank of America, everyone takes a hit – though not everyone is secure in holding onto his or her job. After the share price of the 2nd-biggest U.S. lender plunged 58% in 2011, the firm sold off…

Blankfein Planning Summer Announcement?

Goldman CEO Lloyd Blankfein could be the next Goldman partner to retire, according to Wall Street rumors, as early as this summer. Fortune magazine, which issued the report, notes that a leading candidate to replace Blankfein is…

BigLaw: Fulbright and Pillsbury Are Talking

Not long ago AboveTheLaw was reporting that Fulbright & Jaworski was busy conducting staff layoffs, while Pillsbury Winthrop was exploring on-shore outsourcing options. Times change and so do priorities. Last week, it was reported that the 2 BigLaw firms…

Goldman Enters Consumer Credit Reporting

TransUnion, one of the nation’s 3 largest consumer credit reporting companies, agreed on Friday to be acquired by a pair of private equity funds – Advent International and GS Capital Partners, a Goldman Sachs unit. The sellers, both based…

Morgan Stanley Chairman to Retire

Morgan Stanley announced the retirement of Stephen Roach, the non-executive chairman of the firm’s Asia operations, and one of its best-known figures. In an internal memo to employees, CEO James Gorman said Mr. Roach will return to academia on the…

U.K. Enforcement Chief Stepping Down

The head of enforcement at Britain’s financial regulator will depart the organization ahead of its break-up next year. Margaret Cole, the current managing director of enforcement and financial crime at the Financial Services Authority, will leave the organization…

Ex-Bear Managers v. SEC – Settlement Details

Settlements of the SEC civil cases against Ralph Cioffi and Matthew Tannin were announced on Monday, the same day that their trial was scheduled to begin. The settlement requires court approval. Both had been accused of lying about the…