Your Daily Dose of Financial News

Robins Kaplan LLP

American Express Chair and CEO Kenneth Chenault announced that he’s stepping down next year after 16 years at the helm of AmEx.   He’ll be succeeded by Vice Chair Stephen Squeri – NYTimes and WSJ and Bloomberg

The Dow hit 23,000 for the first time yesterday. Might want to keep that bubbly on ice, though, as “signs of caution loom” – WSJ and MarketWatch

Breakingviews is far from in love with plans some are bandying about for the Treasury Department to scrap Dodd-Frank’s failing-bank liquidation plans – NYTimes

The investment advisory affiliates of BlackRock and other financial services firms are none too pleased with Wells Fargo’s attempt to help them cover any potential judgment it might face in the firms’ lawsuit against Wells over its alleged failings as trustee of 12 MBS trusts – Law360

More on what appears to be a Spartan new GE in the John Flannery era.  Aka, so long to planes, cars, fancy retreats, and likely a whole mess of execs – WSJ

Royal Park has tweaked its class definition and asked the Court for another go around in its bid to certify a class against BNY Mellon over its alleged failures as trustee for $1.12 billion in RMBS – Law360

Feel free to file this under “good to know”: turns out that being “less psychopathic” (and narcissistic, for that matter) should actually mean greater investment success (for hedge fund managers, at least) – Bloomberg

Just months after Samsung scion Lee Jae-yong was imprisoned on corruption charges, Samsung is facing more legal trouble. South Korean authorities raided its construction arm’s offices yesterday as part of an investigation into misappropriated company funds – NYTimes

A look at the tribal payday lending landscape in the aftermath of the $2 billion Scott Tucker debacle – Law360

So, what exactly would a fully Google-ized city (or at least a whole chunk of it) look like?  Toronto and its 800 acres of waterfront-redevelopment zone could be ripe for experimentation – NYTimes

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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