Allen Stanford's multimillion dollar defense has hit a snag. In testimony before a federal judge in Houston, Lloyd's of London is arguing that it should be able to refuse to pay legal fees in the case against Mr. Stanford and other former...
The SEC is still trying to prove it's back in the saddle--especially after two recent cases against Citibank and Bank of America were questioned by judges who felt the regulator was too lenient. ...
Governor David A. Paterson signed a law earlier this month that could mean more tax audits of your wealthy New York-based clients, says a New York Times City Room blog post. Apparently, the law, which takes effect Friday, would make it easier for...
Do your clients read Rolling Stone magazine? Certainly some your future clients do, and maybe even a few current clients. You might want to check in occasionally, too. After all, Matt Taibbi, perhaps the financial services industry's most outraged...
Due to the Volcker rule in the Frank-Dodd bill, according to a story in the Huffington Post, which cites CNBC. Will other brokerage firms follow?
And related, from FierceFinance: Has Goldman Found a Loophole in the Volcker Rule?
Updated: I originally stated that under federal securities laws, brokers are only held to a fiduciary standard in discretionary accounts, but this is incorrect. In fact, brokers who provide advice on non-discretionary advisory accounts (which...
