Grayson: Only 1 Agency Should Regulate Wall Street
Spitzer "Disappointed" in Wall Street's Regulators
Weekly Brief: New DOJ Tact Pushes Bank Subsidiaries To Admit Guilt
Should Wall Street Fear Mary Jo White?
Welcome to our Q2 Trade Secret and Restrictive Covenant Update. As you can tell from the update, Q2 was a busy quarter in this space from both a regulatory, legislative, civil litigation and criminal litigation perspective....more
The Senate passed its version of President Biden’s $1.9 trillion Covid stimulus bill this weekend “after a grueling 27-hour session” that featured “the longest vote in modern Senate history.” ...more
A new bill that has now passed the House would further increase oversight of “Chinese companies listed on American stock markets, the latest attempt by the United States to scrutinize financial ties with China.” The law...more
JPMorgan is preparing to finalize a deal with federal prosecutors and regulators in which the bank would pay nearly $1 billion to “settle civil and criminal charges that its traders rigged futures and securities markets”...more
The path for extradition of Huawei exec Meng Wanzhou is much clearer now that a Canadian court has ruled that “the conduct she is accused of in the United States, if proved, also constitutes a crime in Canada.” That...more
HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more
Big-Tech/Antitrust Update: the FTC has demanded information from Amazon.com Inc., Apple Inc., Facebook Inc., Microsoft Corp., and Alphabet Inc. regarding acquisitions of small firms over the past 10 years that may have been...more
Because who wants a nice quiet December, right? Yesterday, the U.S. opened yet another trade war front by proposing retaliatory tariffs of up to 100% on a wide range of French imports after announcing that “it found France’s...more
AT&T announced yesterday that it’s resolved an ongoing battle with activist Paul Singer and his Elliott Management by agreeing to keep CEO Randall Stephenson on the job through “at least 2020,” with the chair and CEO roles to...more
The EU has granted the UK another extension for the Brexit process, giving Britain until January 31 to leave (unless its Parliament passes a divorce deal sooner)....more
We Work’s largest investor, SoftBank, is reportedly sketching out plans in which it would drop billions of additional money on the company in return for giving Masa Son control of WeWork “and further sidelin[ing] its founder...more
Fed Chair Powell, speaking at an economics conference in Denver yesterday, made news by indicating that the central bank would “once again begin expanding its portfolio of government-backed securities”—a shift in policy...more
A survey of the country’s most powerful CEOs by the Business Roundtable shows an interesting shift in how they view their top priority—no longer does advancing the interests of shareholders take the top spot. Instead, the...more
A volatile August on Wall Street has insiders asking whether we should be taking our cues from 1998 or 2007. With that in mind, our financial term of the week is “countercyclical capital buffer,” a wonkish special for you...more
Les Wexner, the billionaire CEO of Victoria’s Secret and Bath & Body Works parent company L Brands, has accused his former money manager and confidant, Jeffrey Epstein, of misappropriating “vast sums of money” from Wexner and...more
HSBC chief John Flint is out just 18 months after he assumed the role as head of the London-based bank, likely due to clashes with Board Chair Mark Tucker and the lender’s focus on expanding in China. HSBC also announced it...more
Well, that was short lived. FiatChrysler broke news late yesterday that it’s withdrawing its offer to merge with France’s Renault, mere weeks after the companies bowled over the auto world with the proposal. Fiat blamed the...more
The Federal Reserve’s Open Market Committee wrapped its March meetings yesterday with Chair Powell highlighting the central bank’s “fairly downbeat economic assessment” and the expectation that it will keep rates steady for...more
Fascinating weekend feature from the Journal exploring how Sears Roebuck went from the dominant force in American retailing to the bankrupt shell of a company that it is now—all within a period of just 40 years....more
Federal regulators moved this week to “ease oversight of Wall Street firms by scaling back two major mechanisms that were imposed to scrutinize big financial companies in the wake of the financial crisis.” ...more
In what can only be classified as a second major “Oh yeah? Try this on for size” moment from Jeff Bezos in as many weeks, Amazon has announced that it’s canceling its planned HQ2 project in Queens, NY. Some local activists...more
A quick spin through the Fed’s December minutes shows that most Fed officials are set on slowing their previously regular rate hike schedule, only reinforcing the message that Fed Chair Powell delivered last week that the...more
Markets took a beating yesterday, with investors apparently put off by tech stocks, tensions with China, a recent jump in interest rates and government bond yields, and a tightening Fed monetary policy....more
We’ll say this—it’s not been dull over in the UK. There’s Wimbledon, the march of the Three Lions, oh, and also, less than a day after Brexit secretary David Davis and a key associate quit her government, PM May’s foreign...more
After more than 110 years as one of its mainstays, General Electric is out of the Dow Jones Industrial Average. It will be replaced by drugstore retailer Walgreens Boots Alliance....more